GeneDx (NASDAQ:WGS) Stock Price Down 6.7% – Should You Sell?

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price traded down 6.7% during mid-day trading on Thursday . The company traded as low as $62.43 and last traded at $62.71. 444,893 shares changed hands during trading, a decline of 55% from the average session volume of 999,337 shares. The stock had previously closed at $67.18.

Wall Street Analysts Forecast Growth

WGS has been the topic of several research analyst reports. Wells Fargo & Company increased their target price on shares of 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 GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. TD Cowen increased their price target on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Finally, Craig Hallum boosted their price objective on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, GeneDx has an average rating of “Moderate Buy” and a consensus price target of $70.67.

GeneDx Trading Down 4.2 %

The stock has a market capitalization of $1.64 billion, a PE ratio of -19.14 and a beta of 2.01. 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 50 day moving average price of $76.94 and a 200 day moving average price of $59.14.

Insider Buying and Selling at GeneDx

In related news, CEO Katherine Stueland sold 23,108 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $70.48, for a total transaction of $1,628,651.84. Following the completion of the sale, the chief executive officer now directly owns 82,318 shares of the company’s stock, valued at approximately $5,801,772.64. This trade represents a 21.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin Feeley sold 12,019 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $73.76, for a total value of $886,521.44. Following the completion of the transaction, the chief financial officer now directly owns 32,932 shares in the company, valued at approximately $2,429,064.32. This represents a 26.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 363,669 shares of company stock worth $28,061,081. Corporate insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC raised its stake in GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after acquiring an additional 182 shares during the period. Global Retirement Partners LLC bought a new stake in GeneDx during the 4th quarter valued at $28,000. CWM LLC purchased a new stake in GeneDx during the 3rd quarter worth about $89,000. SG Americas Securities LLC bought a new stake in GeneDx during the 3rd quarter worth approximately $198,000. Finally, Evolution Wealth Advisors LLC bought a new position in shares of GeneDx in the fourth quarter worth approximately $202,000. 61.72% of the stock is currently owned by hedge funds and other 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.