GeneDx (NASDAQ:WGS) Stock Price Down 7.2% – Time to Sell?

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price was down 7.2% during trading on Thursday . The company traded as low as $67.35 and last traded at $67.17. Approximately 420,323 shares traded hands during trading, a decline of 60% from the average daily volume of 1,038,112 shares. The stock had previously closed at $72.41.

Analysts Set New Price Targets

A number of analysts recently weighed in on WGS shares. The Goldman Sachs Group upped their target price on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. TD Cowen upped their price objective on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Craig Hallum raised their target price on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price target on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, GeneDx currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.67.

GeneDx Stock Down 5.7 %

The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -21.95 and a beta of 2.02. The firm has a fifty day moving average price of $78.08 and a 200 day moving average price of $54.43. 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:WGS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $64.98 million. During the same quarter in the previous year, the firm earned ($0.82) earnings per share. The business’s revenue was up 44.3% on a year-over-year basis. Sell-side analysts anticipate that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling at GeneDx

In related news, CEO Katherine Stueland sold 23,108 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $70.48, for a total value of $1,628,651.84. Following the transaction, the chief executive officer now owns 82,318 shares in the company, valued at $5,801,772.64. This trade represents a 21.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $75.00, for a total value of $64,935,000.00. Following the sale, the insider now directly owns 2,866,833 shares of the company’s stock, valued at $215,012,475. This represents a 23.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,229,965 shares of company stock worth $93,006,163. 27.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GeneDx

Several institutional investors have recently modified their holdings of the business. Driehaus Capital Management LLC bought a new position in GeneDx in the second quarter valued at approximately $11,335,000. Fred Alger Management LLC acquired a new position in shares of GeneDx in the 3rd quarter valued at $16,731,000. Geode Capital Management LLC boosted its position in shares of GeneDx by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 377,631 shares of the company’s stock worth $16,030,000 after purchasing an additional 30,379 shares during the last quarter. State Street Corp grew its stake in shares of GeneDx by 18.3% during the third quarter. State Street Corp now owns 314,914 shares of the company’s stock worth $13,365,000 after purchasing an additional 48,735 shares during the period. Finally, Millennium Management LLC increased its holdings in GeneDx by 193.5% in the second quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock valued at $8,140,000 after purchasing an additional 205,318 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

About GeneDx

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.