GeneDx (NASDAQ:WGS) Shares Down 8% – What’s Next?

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price was down 8% on Friday . The stock traded as low as $83.35 and last traded at $83.46. Approximately 432,873 shares changed hands during trading, a decline of 39% from the average daily volume of 712,922 shares. The stock had previously closed at $90.68.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company upgraded shares of GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research note on Monday, February 9th. Guggenheim reaffirmed a “buy” rating and issued a $170.00 target price (up from $115.00) on shares of GeneDx in a report on Wednesday, October 29th. BTIG Research increased their price target on GeneDx from $165.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Canaccord Genuity Group boosted their price objective on GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, January 21st. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, GeneDx has an average rating of “Moderate Buy” and a consensus target price of $146.43.

GeneDx Stock Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.59 and a current ratio of 2.71. The company has a market cap of $2.37 billion, a PE ratio of 911.78 and a beta of 2.00. The company’s 50 day moving average price is $112.39 and its 200-day moving average price is $124.65.

Insider Transactions at GeneDx

In related news, CEO Katherine Stueland sold 1,653 shares of GeneDx stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $94.00, for a total value of $155,382.00. Following the completion of the sale, the chief executive officer owned 16,458 shares of the company’s stock, valued at approximately $1,547,052. This trade represents a 9.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Feeley sold 317 shares of the business’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $93.99, for a total value of $29,794.83. Following the completion of the sale, the chief financial officer owned 9,168 shares in the company, valued at $861,700.32. This represents a 3.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 68,961 shares of company stock valued at $10,027,891. Corporate insiders own 29.60% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Several large investors have recently modified their holdings of WGS. Jones Financial Companies Lllp lifted its stake in shares of GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after buying an additional 186 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in GeneDx during the 4th quarter worth about $27,000. Quarry LP lifted its holdings in GeneDx by 248.8% during the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 209 shares in the last quarter. Ramirez Asset Management Inc. bought a new position in GeneDx in the 4th quarter worth about $33,000. Finally, Greenline Wealth Management LLC purchased a new position in GeneDx during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

About GeneDx

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.