GeneDx (NASDAQ:WGS) Shares Down 6.6% – Time to Sell?

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price dropped 6.6% during mid-day trading on Monday . The company traded as low as $75.22 and last traded at $74.4120. Approximately 208,743 shares traded hands during trading, a decline of 72% from the average daily volume of 744,258 shares. The stock had previously closed at $79.71.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WGS shares. Piper Sandler reissued an “overweight” rating and issued a $130.00 price objective (down from $160.00) on shares of GeneDx in a report on Tuesday, February 24th. Zacks Research upgraded shares of GeneDx from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. Jefferies Financial Group set a $150.00 price objective on shares of GeneDx in a research report on Monday, February 23rd. Wells Fargo & Company raised shares of GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 target price for the company in a report on Monday, February 9th. Finally, BTIG Research decreased their target price on shares of GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $150.71.

GeneDx Price Performance

The company has a market cap of $2.33 billion, a price-to-earnings ratio of -106.03 and a beta of 2.03. The company has a current ratio of 2.46, a quick ratio of 2.34 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average price is $103.96 and its 200 day moving average price is $123.01.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $120.99 million for the quarter, compared to analyst estimates of $120.80 million. GeneDx had a negative net margin of 4.92% and a positive return on equity of 14.73%. Equities research analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Transactions at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 10,857 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $143.89, for a total value of $1,562,213.73. Following the completion of the transaction, the chief executive officer owned 14,237 shares in the company, valued at approximately $2,048,561.93. This represents a 43.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin Feeley sold 3,855 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $143.87, for a total transaction of $554,618.85. Following the sale, the chief financial officer owned 8,731 shares in the company, valued at $1,256,128.97. The trade was a 30.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 30,961 shares of company stock valued at $3,933,831. Corporate insiders own 29.60% of the company’s stock.

Institutional Trading of GeneDx

Institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC purchased a new position in shares of GeneDx in the fourth quarter valued at $27,000. Jones Financial Companies Lllp grew its stake in GeneDx by 664.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after acquiring an additional 186 shares during the last quarter. Ramirez Asset Management Inc. purchased a new position in GeneDx during the 4th quarter valued at about $33,000. Greenline Wealth Management LLC acquired a new position in GeneDx during the fourth quarter worth about $33,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of GeneDx in the fourth quarter valued at about $35,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.