GeneDx (NASDAQ:WGS) Trading Down 3% – Should You Sell?

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WGS shares. TD Cowen upped their price target on shares of GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BTIG Research increased their target price on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group boosted their price objective on GeneDx from $32.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Craig Hallum raised their target price on GeneDx from $46.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company began coverage on shares of GeneDx in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.67.

GeneDx Stock Down 4.7 %

The stock’s fifty day moving average price is $43.27 and its 200 day moving average price is $31.22. The company has a current ratio of 2.38, a quick ratio of 2.22 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.46 billion, a P/E ratio of -11.36 and a beta of 2.32.

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

Insider Buying and Selling

In other GeneDx news, CEO Katherine Stueland sold 3,639 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.33, for a total transaction of $121,287.87. Following the transaction, the chief executive officer now directly owns 95,457 shares in the company, valued at $3,181,581.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Opko Health, Inc. sold 12,994 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $29.35, for a total transaction of $381,373.90. Following the completion of the sale, the insider now directly owns 2,971,570 shares in the company, valued at $87,215,579.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Katherine Stueland sold 3,639 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $121,287.87. Following the transaction, the chief executive officer now owns 95,457 shares in the company, valued at approximately $3,181,581.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 356,240 shares of company stock worth $11,770,553 in the last quarter. 28.10% of the stock is owned by insiders.

Institutional Trading of GeneDx

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new position in shares of GeneDx in the second quarter worth $34,000. nVerses Capital LLC purchased a new position in shares of GeneDx in the second quarter valued at about $50,000. CWM LLC bought a new position in shares of GeneDx during the third quarter valued at about $89,000. SG Americas Securities LLC purchased a new stake in shares of GeneDx during the third quarter worth about $198,000. Finally, Palumbo Wealth Management LLC bought a new stake in shares of GeneDx in the third quarter worth about $287,000. 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.