GeneDx (NASDAQ:WGS) Trading Down 5.6% – Time to Sell?

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) traded down 5.6% during trading on Wednesday . The company traded as low as $75.00 and last traded at $74.83. 226,379 shares were traded during trading, a decline of 75% from the average session volume of 891,348 shares. The stock had previously closed at $79.24.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. 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 report on Wednesday, October 30th. TD Cowen upped their price target on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Wells Fargo & Company upped their price target 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 upped their price target on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.67.

GeneDx Trading Down 3.9 %

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The stock’s 50-day moving average is $78.37 and its two-hundred day moving average is $57.69. The stock has a market cap of $2.06 billion, a P/E ratio of -24.07 and a beta of 2.02.

GeneDx (NASDAQ:WGS) 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. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The business had revenue of $76.90 million during the quarter, compared to analyst estimates of $64.98 million. During the same quarter last year, the business earned ($0.82) earnings per share. GeneDx’s quarterly revenue was up 44.3% compared to the same quarter last year. Equities research analysts anticipate that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Insider Buying and Selling at GeneDx

In other news, major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $70.78, for a total value of $8,973,629.96. Following the sale, the insider now owns 2,719,692 shares of the company’s stock, valued at approximately $192,499,799.76. This represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Katherine Stueland sold 22,307 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 60,011 shares in the company, valued at approximately $4,221,173.74. This represents a 27.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 363,669 shares of company stock worth $28,061,081 over the last 90 days. 27.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC grew its holdings in GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after acquiring an additional 182 shares in the last quarter. Global Retirement Partners LLC bought a new position in GeneDx during the 4th quarter worth about $28,000. CWM LLC bought a new position in GeneDx during the 3rd quarter worth about $89,000. SG Americas Securities LLC acquired a new stake in GeneDx in the 3rd quarter worth approximately $198,000. Finally, Evolution Wealth Advisors LLC acquired a new stake in GeneDx in the 4th quarter worth approximately $202,000. Hedge funds and other institutional investors 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.