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

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Canaccord Genuity Group increased their price target on shares of GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Guggenheim reiterated a “buy” rating and issued a $170.00 price objective (up previously from $115.00) on shares of GeneDx in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, October 8th. BTIG Research lifted their price target on shares of GeneDx from $165.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, Wall Street Zen lowered shares of GeneDx from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, GeneDx presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.13.

GeneDx Price Performance

The company has a 50-day moving average of $143.10 and a 200 day moving average of $123.40. 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 stock has a market capitalization of $3.21 billion, a PE ratio of 1,219.03 and a beta of 2.01.

GeneDx (NASDAQ:WGS) last announced its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.21. The company had revenue of $116.74 million for the quarter, compared to analysts’ expectations of $104.33 million. GeneDx had a net margin of 0.52% and a return on equity of 20.22%. Sell-side analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Activity at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 10,857 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 14,237 shares in the company, valued at approximately $2,048,561.93. This represents a 43.27% 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, CFO Kevin Feeley sold 3,855 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $143.87, for a total value of $554,618.85. Following the transaction, the chief financial officer owned 8,731 shares in the company, valued at approximately $1,256,128.97. This represents a 30.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 60,163 shares of company stock valued at $9,339,792. Corporate insiders own 29.60% of the company’s stock.

Institutional Trading of GeneDx

A number of hedge funds and other institutional investors have recently modified their holdings of WGS. Harbor Capital Advisors Inc. lifted its stake in GeneDx by 150.9% during the second quarter. Harbor Capital Advisors Inc. now owns 39,979 shares of the company’s stock worth $3,690,000 after purchasing an additional 24,042 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of GeneDx by 42.7% in the 2nd quarter. Rhumbline Advisers now owns 27,610 shares of the company’s stock valued at $2,549,000 after buying an additional 8,258 shares during the period. MRA Advisory Group acquired a new position in GeneDx during the 2nd quarter worth about $298,000. Perigon Wealth Management LLC acquired a new position in GeneDx during the 2nd quarter worth about $479,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in GeneDx during the 2nd quarter valued at about $589,000. 61.72% of the stock is owned by institutional investors and hedge funds.

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.