GeneDx (NASDAQ:WGS) Trading Down 3.6% – Should You Sell?

GeneDx Holdings Corp. (NASDAQ:WGSGet Free Report)’s share price fell 3.6% during mid-day trading on Wednesday . The stock traded as low as $77.58 and last traded at $77.62. 82,697 shares were traded during trading, a decline of 82% from the average session volume of 451,381 shares. The stock had previously closed at $80.52.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on WGS shares. Wells Fargo & Company lifted their price objective on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. BTIG Research lifted their price objective on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. TD Cowen lifted their price objective on GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Craig Hallum lifted their price objective on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their price objective on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.33.

Read Our Latest Report on GeneDx

GeneDx Stock Performance

The firm has a fifty day moving average of $60.46 and a 200-day moving average of $40.26. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGSGet Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.25. The company had revenue of $76.90 million during the quarter, compared to the consensus estimate of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The firm’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.82) EPS. Equities research analysts predict that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Insider Buying and Selling

In other GeneDx news, CFO Kevin Feeley sold 12,019 shares of GeneDx stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $73.76, for a total transaction of $886,521.44. Following the completion of the transaction, the chief financial officer now directly owns 32,932 shares of the company’s stock, valued at $2,429,064.32. The trade was a 26.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the completion of the transaction, the insider now owns 2,866,833 shares in the company, valued at approximately $215,012,475. This represents a 23.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,109,109 shares of company stock worth $81,980,692. Company insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in GeneDx by 4.2% during the first quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock worth $6,460,000 after acquiring an additional 28,678 shares during the period. Legal Advantage Investments Inc. acquired a new stake in shares of GeneDx in the second quarter valued at approximately $518,000. Assenagon Asset Management S.A. acquired a new stake in shares of GeneDx in the second quarter valued at approximately $9,575,000. Calamos Advisors LLC acquired a new stake in shares of GeneDx in the second quarter valued at approximately $1,137,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of GeneDx in the second quarter valued at approximately $991,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

About GeneDx

(Get Free Report)

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.

See Also

Receive News & Ratings for GeneDx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GeneDx and related companies with MarketBeat.com's FREE daily email newsletter.