GeneDx (NASDAQ:WGS) Trading Down 6.3% – Should You Sell?

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price was down 6.3% during mid-day trading on Wednesday . The company traded as low as $104.41 and last traded at $105.68. Approximately 433,367 shares changed hands during trading, a decline of 64% from the average daily volume of 1,199,471 shares. The stock had previously closed at $112.76.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on WGS shares. TD Cowen boosted their price target on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Wells Fargo & Company boosted their price objective on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Craig Hallum lifted their price target on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price objective on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.33.

GeneDx Trading Down 4.6 %

The business’s fifty day simple moving average is $77.30 and its two-hundred day simple moving average is $61.79. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The company has a market cap of $2.96 billion, a price-to-earnings ratio of -34.61 and a beta of 2.01.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.66. The firm had revenue of $95.64 million during the quarter, compared to analysts’ expectations of $82.24 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. On average, equities analysts predict that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kevin Feeley sold 35,506 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $93.82, for a total value of $3,331,172.92. Following the completion of the sale, the chief financial officer now owns 2,472 shares in the company, valued at $231,923.04. This represents a 93.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Katherine Stueland sold 1,657 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $78.48, for a total transaction of $130,041.36. Following the completion of the sale, the chief executive officer now owns 3,937 shares of the company’s stock, valued at approximately $308,975.76. This trade represents a 29.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 139,603 shares of company stock worth $12,223,041 in the last quarter. 27.30% of the stock is owned by insiders.

Institutional Trading of GeneDx

Institutional investors and hedge funds have recently bought and sold shares of the business. William Blair Investment Management LLC purchased a new position in GeneDx during the 4th quarter worth $51,496,000. Lord Abbett & CO. LLC purchased a new position in GeneDx during the 4th quarter worth $48,458,000. Summit Partners Public Asset Management LLC raised its position in GeneDx by 336.9% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock worth $58,073,000 after buying an additional 582,619 shares during the last quarter. Science & Technology Partners L.P. purchased a new position in GeneDx during the 4th quarter worth $30,821,000. Finally, Fred Alger Management LLC purchased a new position in GeneDx during the 3rd quarter worth $16,731,000. Hedge funds and other 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.