GeneDx (NASDAQ:WGS) Stock Price Down 6.7% – Should You Sell?

GeneDx Holdings Corp. (NASDAQ:WGS) shares fell 6.7% during mid-day trading on Thursday . The company traded as low as $62.43 and last traded at $62.71. 444,893 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 999,337 shares. The stock had previously closed at $67.18.

Analyst Upgrades and Downgrades

Several research firms have commented on WGS. TD Cowen lifted their price target on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Wells Fargo & Company raised their price objective on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. 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. Finally, The Goldman Sachs Group lifted their price target on GeneDx from $54.00 to $70.00 and gave the stock a “neutral” 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.67.

GeneDx Trading Down 2.2 %

The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.80 billion, a P/E ratio of -21.03 and a beta of 2.01. The firm’s fifty day moving average is $77.66 and its two-hundred day moving average is $58.93.

Insider Buying and Selling at GeneDx

In other GeneDx news, major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of GeneDx stock in a transaction on Monday, November 18th. The stock was sold at an average price of $70.78, for a total transaction of $8,973,629.96. Following the completion of the transaction, the insider now owns 2,719,692 shares in the company, valued at approximately $192,499,799.76. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Katherine Stueland sold 22,307 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $70.34, for a total transaction of $1,569,074.38. Following the sale, the chief executive officer now directly owns 60,011 shares of the company’s stock, valued at $4,221,173.74. This trade represents a 27.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 363,669 shares of company stock valued at $28,061,081. 27.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fred Alger Management LLC bought a new stake in GeneDx in the third quarter worth $16,731,000. Zweig DiMenna Associates LLC bought a new stake in shares of GeneDx during the fourth quarter valued at approximately $23,788,000. Millennium Management LLC boosted its holdings in shares of 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 period. Raymond James & Associates purchased a new position in GeneDx during the 3rd quarter worth $8,090,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of GeneDx in the 3rd quarter worth $7,533,000. 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.