GeneDx (NASDAQ:WGS) Stock Price Down 8.9% – Here’s Why

GeneDx Holdings Corp. (NASDAQ:WGS) shares were down 8.9% during trading on Thursday . The stock traded as low as $60.47 and last traded at $59.7290. Approximately 133,282 shares changed hands during trading, a decline of 82% from the average daily volume of 752,813 shares. The stock had previously closed at $65.59.

Analysts Set New Price Targets

Several analysts have commented on WGS shares. Wall Street Zen downgraded GeneDx from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Jefferies Financial Group set a $150.00 target price on GeneDx in a research note on Monday, February 23rd. Canaccord Genuity Group increased their target price on GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Piper Sandler reiterated an “overweight” rating and set a $130.00 target price (down from $160.00) on shares of GeneDx in a research note on Tuesday, February 24th. Finally, Zacks Research upgraded GeneDx from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, GeneDx currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.71.

GeneDx Trading Down 6.6%

The stock has a market capitalization of $1.79 billion, a PE ratio of -81.60 and a beta of 2.17. 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 stock has a 50 day moving average price of $79.81 and a 200-day moving average price of $113.24.

GeneDx (NASDAQ:WGS) last released 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 firm had revenue of $120.99 million for the quarter, compared to the consensus estimate of $120.80 million. GeneDx had a positive return on equity of 14.73% and a negative net margin of 4.92%. Sell-side analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Transactions at GeneDx

In other news, Director Keith A. Meister purchased 140,026 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were purchased at an average cost of $81.19 per share, for a total transaction of $11,368,710.94. Following the purchase, the director directly owned 3,228,150 shares in the company, valued at approximately $262,093,498.50. This represents a 4.53% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 46,933 shares of the firm’s stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $63.17, for a total value of $2,964,757.61. Following the completion of the transaction, the chief executive officer owned 91,514 shares in the company, valued at approximately $5,780,939.38. This trade represents a 33.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 112,808 shares of company stock valued at $8,245,748. Corporate insiders own 29.60% of the company’s stock.

Hedge Funds Weigh In On GeneDx

A number of institutional investors have recently bought and sold shares of WGS. Jones Financial Companies Lllp raised its holdings in GeneDx by 664.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after purchasing an additional 186 shares during the period. Kestra Advisory Services LLC bought a new position in GeneDx in the 4th quarter worth $27,000. Quarry LP raised its holdings in GeneDx by 248.8% in the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 209 shares during the period. Ramirez Asset Management Inc. bought a new position in GeneDx in the 4th quarter worth $33,000. Finally, Greenline Wealth Management LLC bought a new position in GeneDx in the 4th quarter worth $33,000. 61.72% of the stock is owned by institutional investors.

About GeneDx

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.