GeneDx (NASDAQ:WGS) Stock Price Down 4.1%

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price traded down 4.1% on Thursday . The company traded as low as $25.10 and last traded at $25.11. 121,288 shares changed hands during trading, a decline of 67% from the average session volume of 371,080 shares. The stock had previously closed at $26.19.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BTIG Research raised their target price on shares of GeneDx from $19.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group started coverage on shares of GeneDx in a research note on Monday, June 3rd. They issued a “hold” rating and a $21.00 price objective for the company. TD Cowen raised their price objective on shares of GeneDx from $14.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, The Goldman Sachs Group raised their price objective on shares of GeneDx to $11.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th.

GeneDx Price Performance

The business’s 50 day simple moving average is $21.87 and its 200-day simple moving average is $11.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.99 and a current ratio of 3.22.

GeneDx (NASDAQ:WGS) last issued its earnings results on Monday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.35. The company had revenue of $62.42 million during the quarter, compared to analyst estimates of $49.80 million. GeneDx had a negative net margin of 60.86% and a negative return on equity of 36.23%. Equities analysts forecast that GeneDx Holdings Corp. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at GeneDx

In related news, CEO Katherine Stueland sold 6,325 shares of GeneDx stock in a transaction on Monday, April 29th. The shares were sold at an average price of $11.04, for a total value of $69,828.00. Following the completion of the sale, the chief executive officer now owns 75,869 shares of the company’s stock, valued at approximately $837,593.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Katherine Stueland sold 6,325 shares of GeneDx stock in a transaction on Monday, April 29th. The shares were sold at an average price of $11.04, for a total value of $69,828.00. Following the completion of the sale, the chief executive officer now owns 75,869 shares of the company’s stock, valued at approximately $837,593.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Feeley sold 2,646 shares of GeneDx stock in a transaction on Monday, June 17th. The shares were sold at an average price of $28.31, for a total transaction of $74,908.26. Following the completion of the sale, the chief financial officer now directly owns 37,409 shares of the company’s stock, valued at approximately $1,059,048.79. The disclosure for this sale can be found here. In the last quarter, insiders purchased 175,804 shares of company stock valued at $3,771,670 and sold 21,305 shares valued at $462,821. Company insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WGS. Decheng Capital LLC bought a new position in shares of GeneDx during the 4th quarter worth about $285,000. Oracle Investment Management Inc. increased its holdings in shares of GeneDx by 14.9% during the 3rd quarter. Oracle Investment Management Inc. now owns 994,580 shares of the company’s stock worth $3,620,000 after purchasing an additional 128,731 shares during the period. Thompson Davis & CO. Inc. increased its holdings in shares of GeneDx by 99.4% during the 4th quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock worth $55,000 after purchasing an additional 9,944 shares during the period. Vanguard Group Inc. increased its holdings in shares of GeneDx by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock worth $6,460,000 after purchasing an additional 28,678 shares during the period. Finally, Gagnon Securities LLC increased its holdings in shares of GeneDx by 59.3% during the 1st quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock worth $5,079,000 after purchasing an additional 207,027 shares during the period. Institutional investors own 61.72% of the company’s stock.

GeneDx Company Profile

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.