GeneDx (NASDAQ:WGS) Stock Price Down 7.2% – What’s Next?

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price fell 7.2% during trading on Thursday . The stock traded as low as $67.35 and last traded at $67.17. 420,323 shares changed hands during trading, a decline of 60% from the average session volume of 1,038,112 shares. The stock had previously closed at $72.41.

Analysts Set New Price Targets

Several research firms recently commented on WGS. The Goldman Sachs Group increased their price objective on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Craig Hallum increased their price objective on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. TD Cowen increased their price objective on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, 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 research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $70.67.

GeneDx Price Performance

The firm has a 50 day moving average price of $77.77 and a 200 day moving average price of $54.81. 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 market cap of $1.91 billion, a P/E ratio of -22.34 and a beta of 2.02.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The firm had revenue of $76.90 million for the quarter, compared to the consensus estimate of $64.98 million. During the same quarter last year, the company earned ($0.82) earnings per share. The business’s revenue for the quarter was up 44.3% compared to the same quarter last year. On average, analysts forecast that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Insider Activity at GeneDx

In other GeneDx news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $75.00, for a total value of $64,935,000.00. Following the sale, the insider now owns 2,866,833 shares of the company’s stock, valued at $215,012,475. The trade was a 23.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Katherine Stueland sold 2,154 shares of GeneDx stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total value of $143,456.40. Following the completion of the sale, the chief executive officer now directly owns 105,426 shares in the company, valued at approximately $7,021,371.60. The trade was a 2.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,229,965 shares of company stock valued at $93,006,163. 27.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On GeneDx

A number of institutional investors and hedge funds have recently modified their holdings of WGS. MCF Advisors LLC boosted its holdings in GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after acquiring an additional 182 shares during the period. Acadian Asset Management LLC purchased a new position in GeneDx during the 2nd quarter valued at $34,000. CWM LLC purchased a new stake in shares of GeneDx in the 3rd quarter worth $89,000. Evolution Wealth Advisors LLC purchased a new stake in shares of GeneDx in the 4th quarter worth $202,000. Finally, SG Americas Securities LLC purchased a new stake in shares of GeneDx in the 3rd quarter worth $198,000. 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.