GeneDx (NASDAQ:WGS) Stock Price Down 6.3% – Time to Sell?

GeneDx Holdings Corp. (NASDAQ:WGS) shares fell 6.3% during mid-day trading on Friday . The stock traded as low as $88.25 and last traded at $90.48. 91,160 shares were traded during trading, a decline of 88% from the average session volume of 792,299 shares. The stock had previously closed at $96.57.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WGS. Wells Fargo & Company raised their price target on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their target price on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. TD Cowen boosted their price target on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Craig Hallum raised their price objective on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.67.

GeneDx Trading Down 4.0 %

The stock’s fifty day simple moving average is $77.78 and its two-hundred day simple moving average is $52.76. The firm has a market cap of $2.55 billion, a PE ratio of -29.82 and a beta of 2.02. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last released 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. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The business had revenue of $76.90 million during the quarter, compared to analyst estimates of $64.98 million. During the same period last year, the business earned ($0.82) EPS. GeneDx’s revenue was up 44.3% compared to the same quarter last year. On average, sell-side analysts forecast that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Katherine Stueland sold 18,006 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $78.18, for a total transaction of $1,407,709.08. Following the completion of the sale, the chief executive officer now owns 53,140 shares in the company, valued at approximately $4,154,485.20. This represents a 25.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Feeley sold 1,430 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.04, for a total value of $108,737.20. Following the sale, the chief financial officer now owns 26,770 shares of the company’s stock, valued at approximately $2,035,590.80. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,143,039 shares of company stock valued at $84,816,828. Corporate insiders own 27.30% of the company’s stock.

Institutional Trading of GeneDx

Several large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new stake in shares of GeneDx during the 2nd quarter valued at $2,362,000. Chartwell Investment Partners LLC purchased a new stake in GeneDx in the third quarter worth about $1,722,000. Charles Schwab Investment Management Inc. increased its position in GeneDx by 304.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company’s stock worth $6,240,000 after buying an additional 110,666 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of GeneDx during the 3rd quarter valued at about $325,000. Finally, Lisanti Capital Growth LLC bought a new position in shares of GeneDx during the 3rd quarter valued at approximately $1,554,000. 61.72% of the stock is currently owned by 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.