GeneDx (NASDAQ:WGS) Trading Down 3% – Should You Sell?

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) dropped 3% during trading on Monday . The stock traded as low as $57.02 and last traded at $57.05. Approximately 274,082 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 416,097 shares. The stock had previously closed at $58.82.

Analysts Set New Price Targets

WGS has been the subject of several research reports. The Goldman Sachs Group lifted 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. Craig Hallum boosted their price objective on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday. BTIG Research raised their target price on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. TD Cowen lifted their target price on GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company increased 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. Three investment 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.com, GeneDx presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.33.

GeneDx Stock Down 1.0 %

The firm has a market cap of $2.17 billion, a PE ratio of -15.73 and a beta of 2.32. The company has a current ratio of 2.38, a quick ratio of 2.22 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average price of $44.67 and a 200-day moving average price of $32.06.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. The company had revenue of $70.51 million during the quarter, compared to the consensus estimate of $58.90 million. Research analysts forecast that GeneDx Holdings Corp. will post -0.75 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Opko Health, Inc. sold 12,994 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $29.35, for a total transaction of $381,373.90. Following the sale, the insider now owns 2,971,570 shares of the company’s stock, valued at approximately $87,215,579.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other GeneDx news, major shareholder Opko Health, Inc. sold 12,994 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $29.35, for a total value of $381,373.90. Following the transaction, the insider now directly owns 2,971,570 shares in the company, valued at $87,215,579.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Katherine Stueland sold 3,639 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.33, for a total transaction of $121,287.87. Following the completion of the transaction, the chief executive officer now owns 95,457 shares of the company’s stock, valued at approximately $3,181,581.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 267,401 shares of company stock worth $8,794,447. Corporate insiders own 28.10% of the company’s stock.

Institutional Trading of GeneDx

Hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in GeneDx during the 2nd quarter worth $34,000. nVerses Capital LLC purchased a new stake in shares of GeneDx in the second quarter valued at about $50,000. CWM LLC acquired a new stake in shares of GeneDx during the third quarter worth about $89,000. SG Americas Securities LLC purchased a new position in shares of GeneDx during the third quarter worth about $198,000. Finally, Thompson Davis & CO. Inc. increased its position in GeneDx by 20.8% in the 1st quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock valued at $220,000 after acquiring an additional 4,150 shares during the period. 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.