GeneDx (NASDAQ:WGS) Shares Down 3.6% – Time to Sell?

GeneDx Holdings Corp. (NASDAQ:WGS) dropped 3.6% during mid-day trading on Wednesday . The company traded as low as $77.58 and last traded at $77.62. Approximately 82,697 shares traded hands during trading, a decline of 82% from the average daily volume of 451,381 shares. The stock had previously closed at $80.52.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price objective 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. Finally, Craig Hallum lifted their target price on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, GeneDx presently has an average rating of “Moderate Buy” and a consensus target price of $59.33.

GeneDx Trading Down 1.4 %

The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.18 billion, a P/E ratio of -25.54 and a beta of 2.11. The business’s fifty day simple moving average is $62.14 and its 200 day simple moving average is $40.95.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $64.98 million. During the same period in the prior year, the firm earned ($0.82) earnings per share. GeneDx’s revenue was up 44.3% compared to the same quarter last year. As a group, analysts expect that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Insider Activity

In related news, CEO Katherine Stueland sold 3,639 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $121,287.87. Following the sale, the chief executive officer now directly owns 95,457 shares in the company, valued at $3,181,581.81. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin Feeley sold 12,019 shares of GeneDx stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $73.76, for a total transaction of $886,521.44. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,109,109 shares of company stock valued at $81,980,692. Company insiders own 27.30% of the company’s stock.

Institutional Trading of GeneDx

Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new position in shares of GeneDx in the 2nd quarter valued at approximately $34,000. nVerses Capital LLC bought a new stake in GeneDx in the 2nd quarter valued at $50,000. CWM LLC acquired a new position in GeneDx in the 3rd quarter worth $89,000. SG Americas Securities LLC bought a new position in GeneDx during the 3rd quarter worth about $198,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of GeneDx in the 3rd quarter valued at about $220,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

GeneDx Company Profile

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.