GeneDx (NASDAQ:WGS) Trading Down 7.2% – What’s Next?

GeneDx Holdings Corp. (NASDAQ:WGS) shares dropped 7.2% on Thursday . The stock traded as low as $67.35 and last traded at $67.17. Approximately 420,323 shares changed hands during trading, a decline of 60% from the average daily volume of 1,038,112 shares. The stock had previously closed at $72.41.

Analyst Upgrades and Downgrades

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

GeneDx Stock Performance

The stock has a market cap of $1.91 billion, a PE ratio of -22.34 and a beta of 2.02. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The business has a 50 day moving average price of $77.77 and a two-hundred day moving average price of $54.81.

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

Insider Activity at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total value of $143,456.40. Following the completion of the transaction, the chief executive officer now owns 105,426 shares in the company, valued at approximately $7,021,371.60. This represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Feeley sold 35,506 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $93.82, for a total value of $3,331,172.92. Following the completion of the transaction, the chief financial officer now owns 2,472 shares of the company’s stock, valued at approximately $231,923.04. This trade represents a 93.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,229,965 shares of company stock worth $93,006,163 over the last quarter. 27.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GeneDx

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new position in shares of GeneDx during the second quarter valued at $991,000. Rhumbline Advisers increased its holdings in shares of GeneDx by 8,096.4% during the second quarter. Rhumbline Advisers now owns 18,360 shares of the company’s stock valued at $480,000 after acquiring an additional 18,136 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of GeneDx during the second quarter valued at $34,000. American Century Companies Inc. increased its holdings in shares of GeneDx by 36.1% during the second quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock valued at $451,000 after acquiring an additional 4,573 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of GeneDx during the second quarter valued at $2,362,000. Institutional investors own 61.72% of the company’s stock.

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.