GeneDx (NASDAQ:WGS) Stock Price Down 5.6% – What’s Next?

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price fell 5.6% during mid-day trading on Wednesday . The company traded as low as $75.00 and last traded at $74.83. 226,379 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 891,348 shares. The stock had previously closed at $79.24.

Analysts Set New Price Targets

Several equities analysts recently weighed in on WGS shares. Craig Hallum raised their price objective on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. TD Cowen lifted their price target on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group increased their price objective on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price target on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.67.

GeneDx Stock Down 4.5 %

The firm’s 50 day moving average is $78.13 and its 200-day moving average is $57.42. 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 firm has a market cap of $2.08 billion, a PE ratio of -24.33 and a beta of 2.02.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.25. The company had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. 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 company earned ($0.82) EPS. As a group, equities research analysts expect that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Kevin Feeley sold 35,506 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $93.82, for a total value of $3,331,172.92. Following the sale, the chief financial officer now owns 2,472 shares of the company’s stock, valued at $231,923.04. This trade represents a 93.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 23,108 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $70.48, for a total value of $1,628,651.84. Following the transaction, the chief executive officer now owns 82,318 shares of the company’s stock, valued at $5,801,772.64. This trade represents a 21.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,227,537 shares of company stock worth $92,844,458 over the last quarter. 27.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GeneDx

A number of institutional investors and hedge funds have recently bought and sold shares of WGS. MCF Advisors LLC boosted its holdings in GeneDx by 107.7% during the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after buying an additional 182 shares in the last quarter. CWM LLC purchased a new stake in shares of GeneDx in the 3rd quarter valued at approximately $89,000. Evolution Wealth Advisors LLC purchased a new position in GeneDx during the 4th quarter worth approximately $202,000. PFG Investments LLC purchased a new stake in shares of GeneDx in the fourth quarter valued at $252,000. Finally, SG Americas Securities LLC acquired a new stake in GeneDx during the 3rd quarter worth about $198,000. 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.