GeneDx (NASDAQ:WGS) Shares Gap Down – What’s Next?

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) gapped down prior to trading on Monday . The stock had previously closed at $68.43, but opened at $66.36. GeneDx shares last traded at $69.32, with a volume of 72,210 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WGS. Craig Hallum upped their price target on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. TD Cowen upped their price objective on shares of GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. 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, October 30th. BTIG Research increased their price target on shares of GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company lifted 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, GeneDx has an average rating of “Moderate Buy” and an average target price of $59.33.

GeneDx Price Performance

The firm has a market cap of $1.97 billion, a PE ratio of -23.73 and a beta of 2.11. The stock’s fifty day moving average price is $55.94 and its 200-day moving average price is $37.97. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data 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 business had revenue of $76.90 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.82) earnings per share. As a group, equities analysts forecast that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other GeneDx news, CEO Katherine Stueland sold 3,639 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 95,457 shares in the company, valued at $3,181,581.81. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the sale, the insider now directly owns 2,866,833 shares of the company’s stock, valued at approximately $215,012,475. This trade represents a 23.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 873,024 shares of company stock valued at $65,256,131. Insiders own 27.30% of the company’s stock.

Institutional Trading of GeneDx

Hedge funds and other institutional investors have recently modified their holdings of the business. Oracle Investment Management Inc. boosted its stake in shares of GeneDx by 531.7% during the 1st quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock valued at $10,286,000 after buying an additional 948,253 shares during the last quarter. Vanguard Group Inc. boosted its stake in GeneDx by 4.2% in the first quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after acquiring an additional 28,678 shares during the period. Gagnon Securities LLC grew its holdings in shares of GeneDx by 59.3% during the first quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock valued at $5,079,000 after purchasing an additional 207,027 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of GeneDx during the 2nd quarter worth approximately $11,335,000. Finally, Fred Alger Management LLC bought a new stake in shares of GeneDx in the 3rd quarter worth approximately $16,731,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.