GeneDx (NASDAQ:WGS) Stock Price Down 6.6% – Time to Sell?

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price dropped 6.6% during mid-day trading on Wednesday . The company traded as low as $95.62 and last traded at $93.93. Approximately 103,628 shares were traded during trading, a decline of 83% from the average daily volume of 619,638 shares. The stock had previously closed at $100.59.

Wall Street Analysts Forecast Growth

WGS has been the topic of several research reports. The Goldman Sachs Group boosted their target price on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. TD Cowen increased their target price on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.33.

GeneDx Trading Down 2.2 %

The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The firm has a fifty day moving average price of $86.83 and a 200 day moving average price of $73.52. The company has a market cap of $2.65 billion, a price-to-earnings ratio of -48.13 and a beta of 1.91.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.66. The firm had revenue of $95.64 million during the quarter, compared to analysts’ expectations of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. As a group, equities analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other GeneDx news, CFO Kevin Feeley sold 1,430 shares of GeneDx stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.04, for a total transaction of $108,737.20. Following the completion of the transaction, the chief financial officer now directly owns 26,770 shares of the company’s stock, valued at $2,035,590.80. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Katherine Stueland sold 51,420 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the completion of the transaction, the chief executive officer now directly owns 1,720 shares in the company, valued at $162,505.60. The trade was a 96.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,735 shares of company stock valued at $11,719,787 over the last 90 days. 27.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GeneDx

Institutional investors have recently made changes to their positions in the company. William Blair Investment Management LLC bought a new position in shares of GeneDx during the fourth quarter worth approximately $51,496,000. Lord Abbett & CO. LLC bought a new position in GeneDx during the 4th quarter worth $48,458,000. Summit Partners Public Asset Management LLC lifted its holdings in shares of GeneDx by 336.9% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock worth $58,073,000 after buying an additional 582,619 shares in the last quarter. Science & Technology Partners L.P. bought a new stake in shares of GeneDx in the fourth quarter valued at about $30,821,000. Finally, Fred Alger Management LLC acquired a new position in shares of GeneDx in the third quarter valued at about $16,731,000. 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.