GeneDx (NASDAQ:WGS) Stock Price Down 6.4% – What’s Next?

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) dropped 6.4% during mid-day trading on Tuesday . The company traded as low as $138.01 and last traded at $140.9990. Approximately 215,307 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 879,596 shares. The stock had previously closed at $150.61.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of GeneDx from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Guggenheim reissued a “buy” rating and set a $170.00 price target (up previously from $115.00) on shares of GeneDx in a research report on Wednesday, October 29th. Canaccord Genuity Group set a $160.00 price objective on shares of GeneDx and gave the stock a “buy” rating in a report on Wednesday, October 29th. Wall Street Zen lowered GeneDx from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Zacks Research downgraded GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, GeneDx has an average rating of “Moderate Buy” and a consensus target price of $134.78.

GeneDx Trading Down 6.3%

The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 1,571.81 and a beta of 1.98. The business has a fifty day moving average of $139.86 and a two-hundred day moving average of $114.72. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.59 and a current ratio of 2.71.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.28 by $0.21. GeneDx had a net margin of 0.52% and a return on equity of 20.22%. The business had revenue of $116.74 million for the quarter, compared to analyst estimates of $104.33 million. As a group, equities analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Katherine Stueland sold 3,639 shares of GeneDx stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $159.28, for a total transaction of $579,619.92. Following the completion of the sale, the chief executive officer directly owned 6,344 shares in the company, valued at $1,010,472.32. The trade was a 36.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin Feeley sold 1,266 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $159.28, for a total transaction of $201,648.48. Following the transaction, the chief financial officer directly owned 5,389 shares in the company, valued at $858,359.92. The trade was a 19.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 45,451 shares of company stock worth $7,222,959 over the last three months. 29.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GeneDx

Several institutional investors and hedge funds have recently bought and sold shares of WGS. US Bancorp DE boosted its holdings in shares of GeneDx by 3,223.5% in the 1st quarter. US Bancorp DE now owns 565 shares of the company’s stock valued at $50,000 after purchasing an additional 548 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in GeneDx in the first quarter valued at $132,000. Vanguard Group Inc. lifted its stake in shares of GeneDx by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 1,031,326 shares of the company’s stock valued at $91,339,000 after purchasing an additional 25,116 shares in the last quarter. Swiss National Bank grew its holdings in shares of GeneDx by 34.0% during the 1st quarter. Swiss National Bank now owns 31,900 shares of the company’s stock worth $2,825,000 after purchasing an additional 8,100 shares during the period. Finally, Invesco Ltd. increased its position in GeneDx by 52.6% during the 1st quarter. Invesco Ltd. now owns 389,579 shares of the company’s stock worth $34,503,000 after purchasing an additional 134,228 shares in the last quarter. 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.