GeneDx (NASDAQ:WGS) Stock Price Down 6.2% – What’s Next?

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price was down 6.2% during trading on Thursday . The company traded as low as $98.02 and last traded at $98.75. Approximately 217,041 shares traded hands during trading, a decline of 64% from the average daily volume of 596,225 shares. The stock had previously closed at $105.31.

Wall Street Analysts Forecast Growth

WGS has been the subject of a number of analyst reports. TD Cowen boosted their price target on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. The Goldman Sachs Group raised their price target on shares of GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, GeneDx currently has a consensus rating of “Moderate Buy” and an average price target of $72.33.

GeneDx Price Performance

The company’s 50-day moving average is $82.49 and its 200-day moving average is $66.82. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -49.59 and a beta of 2.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The company had revenue of $95.64 million for the quarter, compared to the consensus estimate of $82.24 million. On average, research analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Transactions at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 51,420 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $94.48, for a total value of $4,858,161.60. Following the completion of the transaction, the chief executive officer now owns 1,720 shares in the company, valued at $162,505.60. This represents a 96.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Feeley sold 3,728 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $76.75, for a total transaction of $286,124.00. Following the completion of the sale, the chief financial officer now directly owns 28,200 shares of the company’s stock, valued at $2,164,350. This trade represents a 11.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,321 shares of company stock valued at $11,315,903 over the last 90 days. Corporate insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new position in shares of GeneDx in the fourth quarter worth about $51,496,000. Lord Abbett & CO. LLC acquired a new stake in shares of GeneDx in the 4th quarter valued at about $48,458,000. Summit Partners Public Asset Management LLC raised its stake in shares of GeneDx by 336.9% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock valued at $58,073,000 after purchasing an additional 582,619 shares in the last quarter. Science & Technology Partners L.P. bought a new position in shares of GeneDx during the fourth quarter worth about $30,821,000. Finally, Fred Alger Management LLC acquired a new position in GeneDx in the third quarter worth about $16,731,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.