GeneDx (NASDAQ:WGS) Trading Down 5.6% – Time to Sell?

GeneDx Holdings Corp. (NASDAQ:WGS) shares traded down 5.6% during mid-day trading on Wednesday . The company traded as low as $75.00 and last traded at $74.83. 226,379 shares changed hands during trading, a decline of 75% from the average session volume of 891,348 shares. The stock had previously closed at $79.24.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. TD Cowen raised their price target on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Craig Hallum raised their price target on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their price target on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price target on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.67.

GeneDx Stock Performance

The company has a market cap of $2.06 billion, a PE ratio of -24.07 and a beta of 2.02. The firm’s fifty day moving average is $78.37 and its 200 day moving average is $57.69. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.25. The company had revenue of $76.90 million during the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The firm’s revenue was up 44.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.82) EPS. As a group, research analysts predict that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $69.78, for a total transaction of $1,420,651.02. Following the transaction, the insider now owns 2,846,474 shares of the company’s stock, valued at approximately $198,626,955.72. The trade was a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jason Ryan sold 31,510 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $71.28, for a total transaction of $2,246,032.80. Following the transaction, the director now directly owns 15,490 shares in the company, valued at approximately $1,104,127.20. The trade was a 67.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 363,669 shares of company stock valued at $28,061,081. 27.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WGS. MCF Advisors LLC boosted its stake in GeneDx by 107.7% during the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after buying an additional 182 shares during the period. Global Retirement Partners LLC purchased a new position in GeneDx during the fourth quarter worth about $28,000. CWM LLC purchased a new position in GeneDx during the third quarter worth about $89,000. Evolution Wealth Advisors LLC purchased a new position in GeneDx during the fourth quarter worth about $202,000. Finally, PFG Investments LLC purchased a new position in GeneDx during the fourth quarter worth about $252,000. Institutional investors and hedge funds 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.