GeneDx (NASDAQ:WGS) Stock Price Down 3% – Here’s What Happened

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price traded down 3% during mid-day trading on Monday . The company traded as low as $57.02 and last traded at $57.05. 274,082 shares traded hands during trading, a decline of 34% from the average session volume of 416,097 shares. The stock had previously closed at $58.82.

Analyst Ratings Changes

WGS has been the subject of a number of research reports. TD Cowen increased their price target on shares of GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group raised their price objective on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday. Craig Hallum boosted their price target on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday. BTIG Research raised their target price on shares of GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their price target on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.33.

GeneDx Stock Down 1.0 %

The company’s fifty day simple moving average is $44.67 and its 200-day simple moving average is $32.06. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.38 and a quick ratio of 2.22. The firm has a market capitalization of $2.17 billion, a PE ratio of -15.73 and a beta of 2.32.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.15. The business had revenue of $70.51 million for the quarter, compared to the consensus estimate of $58.90 million. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. On average, analysts forecast that GeneDx Holdings Corp. will post -0.75 EPS for the current year.

Insider Activity

In other news, major shareholder Opko Health, Inc. sold 100,000 shares of GeneDx stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.82, for a total value of $3,182,000.00. Following the sale, the insider now owns 2,871,570 shares in the company, valued at $91,373,357.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Katherine Stueland sold 3,639 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $121,287.87. Following the completion of the sale, the chief executive officer now directly owns 95,457 shares in the company, valued at $3,181,581.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Opko Health, Inc. sold 100,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the completion of the sale, the insider now owns 2,871,570 shares of the company’s stock, valued at approximately $91,373,357.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 267,401 shares of company stock worth $8,794,447 over the last three months. 28.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GeneDx

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in shares of GeneDx during the 2nd quarter valued at approximately $34,000. nVerses Capital LLC acquired a new stake in GeneDx during the second quarter worth $50,000. CWM LLC purchased a new stake in GeneDx in the third quarter valued at $89,000. SG Americas Securities LLC purchased a new position in shares of GeneDx during the 3rd quarter worth $198,000. Finally, Palumbo Wealth Management LLC purchased a new position in shares of GeneDx during the 3rd quarter worth $287,000. 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.