GeneDx (NASDAQ:WGS) Shares Down 4.1%

GeneDx Holdings Corp. (NASDAQ:WGS) shares fell 4.1% during mid-day trading on Thursday . The stock traded as low as $25.10 and last traded at $25.11. 121,288 shares were traded during mid-day trading, a decline of 67% from the average session volume of 371,080 shares. The stock had previously closed at $26.19.

Analyst Upgrades and Downgrades

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

GeneDx Stock Down 0.8 %

The company has a market capitalization of $678.86 million, a price-to-earnings ratio of -4.99 and a beta of 2.21. The firm’s 50 day moving average price is $21.20 and its two-hundred day moving average price is $11.28. The company has a current ratio of 3.22, a quick ratio of 2.99 and a debt-to-equity ratio of 0.25.

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

Insider Buying and Selling at GeneDx

In related news, CEO Katherine Stueland sold 6,325 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $11.04, for a total value of $69,828.00. Following the completion of the transaction, the chief executive officer now owns 75,869 shares of the company’s stock, valued at $837,593.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Katherine Stueland sold 6,325 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $11.04, for a total transaction of $69,828.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Feeley sold 2,646 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $28.31, for a total value of $74,908.26. Following the transaction, 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 three months, insiders purchased 175,804 shares of company stock valued at $3,771,670 and sold 21,305 shares valued at $462,821. Insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. boosted its stake in shares of GeneDx by 99.4% in the 4th quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock valued at $55,000 after purchasing an additional 9,944 shares during the last quarter. PFG Investments LLC bought a new stake in shares of GeneDx during the 1st quarter valued at about $95,000. Decheng Capital LLC bought a new stake in GeneDx in the fourth quarter worth approximately $285,000. HighTower Advisors LLC lifted its stake in GeneDx by 14.1% in the third quarter. HighTower Advisors LLC now owns 237,948 shares of the company’s stock valued at $865,000 after buying an additional 29,361 shares during the period. Finally, Gagnon Advisors LLC boosted its holdings in shares of GeneDx by 41.6% during the 1st quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock worth $1,930,000 after buying an additional 62,059 shares in the last quarter. 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.