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

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) dropped 3.6% on Wednesday . The company traded as low as $77.58 and last traded at $77.62. Approximately 82,697 shares traded hands during trading, a decline of 82% from the average daily volume of 451,381 shares. The stock had previously closed at $80.52.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WGS shares. The Goldman Sachs Group increased their price objective on GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their target price on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Craig Hallum boosted their target price on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.33.

GeneDx Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -25.54 and a beta of 2.11. The firm’s 50 day moving average is $62.14 and its 200-day moving average is $40.95.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The company had revenue of $76.90 million during the quarter, compared to the consensus estimate of $64.98 million. During the same quarter in the prior year, the company posted ($0.82) EPS. The firm’s revenue was up 44.3% on a year-over-year basis. Sell-side analysts anticipate that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jason Ryan sold 31,510 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $71.28, for a total transaction of $2,246,032.80. Following the completion of the transaction, the director now directly owns 15,490 shares in the company, valued at $1,104,127.20. This represents a 67.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the 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 sale, the insider now directly owns 2,866,833 shares of the company’s stock, valued at approximately $215,012,475. This trade represents a 23.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,109,109 shares of company stock valued at $81,980,692. Company insiders own 27.30% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Several hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in GeneDx in the second quarter worth $34,000. nVerses Capital LLC bought a new position in shares of GeneDx during the 2nd quarter worth about $50,000. CWM LLC acquired a new stake in shares of GeneDx during the 3rd quarter valued at about $89,000. SG Americas Securities LLC bought a new stake in GeneDx in the third quarter valued at about $198,000. Finally, Point72 DIFC Ltd acquired a new position in GeneDx in the third quarter worth about $220,000. 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.