GeneDx (NASDAQ:WGS) Stock Price Down 5.4%

GeneDx Holdings Corp. (NASDAQ:WGS) shares traded down 5.4% on Thursday . The company traded as low as $31.62 and last traded at $32.00. 346,949 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 389,437 shares. The stock had previously closed at $33.84.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. BTIG Research upped their price objective on GeneDx from $19.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. TD Cowen raised their price objective on GeneDx from $14.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Jefferies Financial Group started coverage on GeneDx in a report on Monday, June 3rd. They set a “hold” rating and a $21.00 target price for the company. Craig Hallum started coverage on shares of GeneDx in a report on Wednesday, July 10th. They issued a “buy” rating and a $43.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price objective on shares of GeneDx from $12.50 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.20.

GeneDx Trading Down 3.3 %

The firm has a market cap of $854.65 million, a price-to-earnings ratio of -6.32 and a beta of 2.29. The company has a quick ratio of 2.99, a current ratio of 3.22 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average price of $26.91 and a 200-day moving average price of $15.22.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data 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 for 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%. As a group, research analysts expect that GeneDx Holdings Corp. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at GeneDx

In other news, major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $26.63, for a total transaction of $1,331,500.00. Following the sale, the insider now directly owns 3,508,603 shares of the company’s stock, valued at $93,434,097.89. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Opko Health, Inc. sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $26.63, for a total transaction of $1,331,500.00. Following the completion of the sale, the insider now owns 3,508,603 shares of the company’s stock, valued at $93,434,097.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Casdin Capital, Llc acquired 7,500 shares of GeneDx stock in a transaction on Thursday, May 23rd. The shares were bought at an average price of $19.59 per share, for a total transaction of $146,925.00. Following the completion of the purchase, the director now directly owns 2,761,009 shares in the company, valued at $54,088,166.31. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 175,804 shares of company stock valued at $3,771,670 and sold 221,505 shares valued at $6,472,829. 28.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GeneDx

A number of hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new position in GeneDx during the 2nd quarter worth approximately $9,575,000. Legal Advantage Investments Inc. acquired a new stake in shares of GeneDx during the 2nd quarter valued at approximately $518,000. Oracle Investment Management Inc. lifted its stake in GeneDx by 531.7% during the first quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock worth $10,286,000 after purchasing an additional 948,253 shares during the last quarter. Gagnon Securities LLC boosted its holdings in GeneDx by 59.3% in the first 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. Finally, Gagnon Advisors LLC raised its holdings in shares of GeneDx by 41.6% during the first quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock worth $1,930,000 after purchasing an additional 62,059 shares during the period. 61.72% of the stock is currently owned by institutional investors and hedge funds.

About GeneDx

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.