GeneDx (NASDAQ:WGS) Stock Price Down 8.9% – What’s Next?

GeneDx Holdings Corp. (NASDAQ:WGS) fell 8.9% on Tuesday . The stock traded as low as $112.96 and last traded at $108.5780. 137,763 shares changed hands during trading, a decline of 75% from the average session volume of 555,672 shares. The stock had previously closed at $119.24.

Analysts Set New Price Targets

A number of research analysts have recently commented on WGS shares. Guggenheim reiterated a “buy” rating and set a $170.00 target price (up from $115.00) on shares of GeneDx in a research report on Wednesday, October 29th. Zacks Research cut shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Wall Street Zen lowered shares of GeneDx from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company set a $155.00 target price on shares of GeneDx and gave the stock an “equal weight” rating in a report on Monday, December 15th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, GeneDx currently has an average rating of “Moderate Buy” and an average price target of $138.13.

GeneDx Price Performance

The company has a quick ratio of 2.59, a current ratio of 2.71 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $3.16 billion, a PE ratio of 1,214.22 and a beta of 2.01. The firm’s 50 day simple moving average is $141.27 and its 200 day simple moving average is $123.30.

GeneDx (NASDAQ:WGS) last announced its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, beating 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 the consensus estimate of $104.33 million. As a group, research analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other GeneDx news, CFO Kevin Feeley sold 3,855 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $143.87, for a total value of $554,618.85. Following the completion of the sale, the chief financial officer owned 8,731 shares of the company’s stock, valued at $1,256,128.97. This trade represents a 30.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Katherine Stueland sold 10,857 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $143.89, for a total value of $1,562,213.73. Following the transaction, the chief executive officer directly owned 14,237 shares in the company, valued at approximately $2,048,561.93. This represents a 43.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 60,163 shares of company stock valued at $9,339,792 over the last 90 days. Insiders own 29.60% of the company’s stock.

Institutional Trading of GeneDx

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp boosted its stake in shares of GeneDx by 664.3% during the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after purchasing an additional 186 shares during the period. Quarry LP increased its stake in GeneDx by 248.8% in the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after buying an additional 209 shares during the period. Gordian Capital Singapore Pte Ltd bought a new stake in GeneDx during the 3rd quarter valued at about $65,000. AlphaQuest LLC boosted its position in GeneDx by 351.5% in the 2nd quarter. AlphaQuest LLC now owns 763 shares of the company’s stock valued at $70,000 after buying an additional 594 shares during the period. Finally, Spire Wealth Management purchased a new stake in GeneDx in the 4th quarter valued at about $221,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.