GeneDx (NASDAQ:WGS) Trading Down 6.3% – Should You Sell?

GeneDx Holdings Corp. (NASDAQ:WGS) shares were down 6.3% during trading on Wednesday . The stock traded as low as $104.41 and last traded at $105.68. Approximately 433,367 shares were traded during trading, a decline of 64% from the average daily volume of 1,199,471 shares. The stock had previously closed at $112.76.

Analyst Upgrades and Downgrades

Several analysts have recently commented on WGS shares. Wells Fargo & Company increased 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. TD Cowen boosted their target price on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Craig Hallum boosted their target price on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their target price on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.33.

GeneDx Stock Down 4.6 %

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 business’s fifty day simple moving average is $77.30 and its two-hundred day simple moving average is $61.79. The company has a market cap of $2.96 billion, a PE ratio of -34.61 and a beta of 2.01.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.66. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The company had revenue of $95.64 million during the quarter, compared to analysts’ expectations of $82.24 million. On average, analysts predict that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

Insider Activity at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 1,137 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $76.37, for a total value of $86,832.69. Following the transaction, the chief financial officer now directly owns 24,731 shares in the company, valued at $1,888,706.47. The trade was a 4.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Katherine Stueland sold 3,661 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $76.37, for a total transaction of $279,590.57. Following the completion of the transaction, the chief executive officer now owns 62,897 shares in the company, valued at $4,803,443.89. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 139,603 shares of company stock valued at $12,223,041. Corporate insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in GeneDx by 18.5% in the fourth quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company’s stock valued at $77,337,000 after buying an additional 156,768 shares during the last quarter. Summit Partners Public Asset Management LLC lifted its position in GeneDx by 336.9% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock valued at $58,073,000 after buying an additional 582,619 shares during the last quarter. William Blair Investment Management LLC acquired a new position in GeneDx in the fourth quarter valued at about $51,496,000. Lord Abbett & CO. LLC acquired a new position in GeneDx in the fourth quarter valued at about $48,458,000. Finally, Fred Alger Management LLC lifted its position in GeneDx by 38.5% in the fourth quarter. Fred Alger Management LLC now owns 546,054 shares of the company’s stock valued at $41,970,000 after buying an additional 151,824 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.