GeneDx (NASDAQ:WGS) Stock Price Down 6.3% – Here’s What Happened

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price was down 6.3% during trading on Friday . The company traded as low as $88.25 and last traded at $90.48. Approximately 91,160 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 792,299 shares. The stock had previously closed at $96.57.

Analyst Ratings Changes

WGS has been the topic of several recent research reports. Wells Fargo & Company increased their price target on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. TD Cowen raised their price objective on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday. The Goldman Sachs Group boosted their target price on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Craig Hallum lifted their price target on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, GeneDx currently has a consensus rating of “Moderate Buy” and an average target price of $70.67.

GeneDx Stock Down 4.0 %

The company has a market capitalization of $2.55 billion, a PE ratio of -29.82 and a beta of 2.02. 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 stock has a 50-day moving average of $77.78 and a 200 day moving average of $52.76.

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

Insider Activity

In other news, CEO Katherine Stueland sold 2,154 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $66.60, for a total value of $143,456.40. Following the transaction, the chief executive officer now owns 105,426 shares of the company’s stock, valued at approximately $7,021,371.60. This represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Feeley sold 1,137 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $76.37, for a total value of $86,832.69. Following the transaction, the chief financial officer now owns 24,731 shares of the company’s stock, valued at approximately $1,888,706.47. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,143,039 shares of company stock worth $84,816,828. 27.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GeneDx

A number of large investors have recently added to or reduced their stakes in WGS. Acadian Asset Management LLC bought a new position in shares of GeneDx during the second quarter valued at about $34,000. CWM LLC bought a new position in shares of GeneDx in the third quarter worth approximately $89,000. SG Americas Securities LLC purchased a new position in shares of GeneDx in the third quarter worth $198,000. Point72 DIFC Ltd bought a new stake in GeneDx during the 3rd quarter valued at $220,000. Finally, Palumbo Wealth Management LLC purchased a new stake in GeneDx during the 3rd quarter valued at $287,000. 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.