GeneDx (NASDAQ:WGS) Trading Down 6.6% – Should You Sell?

GeneDx Holdings Corp. (NASDAQ:WGS) dropped 6.6% during mid-day trading on Wednesday . The stock traded as low as $95.62 and last traded at $93.93. Approximately 103,628 shares traded hands during trading, a decline of 83% from the average daily volume of 619,638 shares. The stock had previously closed at $100.59.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WGS shares. TD Cowen lifted their price objective on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group boosted their price target on shares of GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.33.

GeneDx Stock Performance

The stock has a fifty day moving average price of $86.83 and a 200 day moving average price of $73.52. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -48.13 and a beta of 1.91.

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

Insider Activity at GeneDx

In other news, CEO Katherine Stueland sold 1,078 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $89.44, for a total value of $96,416.32. Following the completion of the sale, the chief executive officer now directly owns 6,674 shares in the company, valued at approximately $596,922.56. This trade represents a 13.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin Feeley sold 1,430 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.04, for a total transaction of $108,737.20. Following the completion of the transaction, the chief financial officer now directly owns 26,770 shares of the company’s stock, valued at approximately $2,035,590.80. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,735 shares of company stock worth $11,719,787. 27.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. MCF Advisors LLC boosted its holdings in GeneDx by 107.7% during the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after buying an additional 182 shares during the last quarter. Sterling Capital Management LLC boosted its stake in GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock worth $27,000 after acquiring an additional 316 shares during the last quarter. Global Retirement Partners LLC acquired a new position in GeneDx during the fourth quarter valued at approximately $28,000. Lazard Asset Management LLC bought a new stake in GeneDx in the fourth quarter valued at approximately $35,000. Finally, Comerica Bank bought a new stake in GeneDx in the fourth quarter valued at approximately $50,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.