GeneDx (NASDAQ:WGS) Trading Down 3.6% – Should You Sell?

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price was down 3.6% during mid-day trading on Wednesday . The company traded as low as $77.58 and last traded at $77.62. Approximately 82,697 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 451,381 shares. The stock had previously closed at $80.52.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WGS. TD Cowen increased their target price on shares of GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. 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 note on Wednesday, October 30th. Craig Hallum increased 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. BTIG Research boosted their price objective on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company upped their target price on GeneDx from $34.00 to $75.00 and gave the stock 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 given a buy rating to the company’s stock. According to MarketBeat.com, GeneDx currently has an average rating of “Moderate Buy” and an average target price of $59.33.

GeneDx Price Performance

The company has a 50-day moving average of $60.46 and a 200-day moving average of $40.26. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25.

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

Insiders Place Their Bets

In other news, CFO Kevin Feeley sold 895 shares of GeneDx stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $29,830.35. Following the completion of the transaction, the chief financial officer now directly owns 39,910 shares of the company’s stock, valued at approximately $1,330,200.30. This trade represents a 2.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Katherine Stueland sold 3,639 shares of GeneDx stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $121,287.87. Following the completion of the transaction, the chief executive officer now directly owns 95,457 shares of the company’s stock, valued at approximately $3,181,581.81. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,109,109 shares of company stock valued at $81,980,692. 27.30% of the stock is currently owned by company insiders.

Institutional Trading of GeneDx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in GeneDx during the 2nd quarter worth approximately $34,000. nVerses Capital LLC bought a new stake in GeneDx during the 2nd quarter worth approximately $50,000. CWM LLC bought a new stake in GeneDx during the 3rd quarter worth approximately $89,000. SG Americas Securities LLC bought a new stake in GeneDx during the 3rd quarter worth approximately $198,000. Finally, Point72 DIFC Ltd bought a new stake in GeneDx during the 3rd quarter worth approximately $220,000. 61.72% of the stock is owned by institutional investors.

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.