GeneDx (NASDAQ:WGS) Stock Price Down 8.2% – Here’s What Happened

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price was down 8.2% on Tuesday . The stock traded as low as $95.42 and last traded at $96.25. Approximately 410,200 shares traded hands during trading, a decline of 42% from the average daily volume of 702,986 shares. The stock had previously closed at $104.88.

Analyst Upgrades and Downgrades

WGS has been the topic of a number of recent analyst reports. Guggenheim reissued a “buy” rating and set a $170.00 price target (up from $115.00) on shares of GeneDx in a research report on Wednesday, October 29th. Weiss Ratings restated a “sell (d)” rating on shares of GeneDx in a report on Wednesday, January 21st. Zacks Research lowered GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Canaccord Genuity Group boosted their price objective on GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Finally, BTIG Research raised their target price on shares of GeneDx from $165.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.13.

GeneDx Trading Up 3.0%

The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 1,090.67 and a beta of 2.01. The business has a 50-day moving average of $134.72 and a 200-day moving average of $124.18. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.71 and a quick ratio of 2.59.

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

Insider Activity at GeneDx

In other news, Director Joshua Ruch sold 38,000 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $160.37, for a total value of $6,094,060.00. Following the completion of the sale, the director owned 11,941 shares of the company’s stock, valued at approximately $1,914,978.17. The trade was a 76.09% 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, CEO Katherine Stueland sold 10,857 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $143.89, for a total value of $1,562,213.73. Following the completion of the transaction, the chief executive officer owned 14,237 shares in the company, valued at $2,048,561.93. The trade was a 43.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 57,617 shares of company stock worth $8,992,161 in the last ninety days. 29.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On GeneDx

Institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp boosted its stake in GeneDx by 664.3% in the third 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. Quarry LP lifted its holdings in shares of GeneDx by 248.8% in the third quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 209 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of GeneDx in the 3rd quarter valued at approximately $65,000. AlphaQuest LLC grew its holdings in shares of GeneDx by 351.5% during the 2nd quarter. AlphaQuest LLC now owns 763 shares of the company’s stock valued at $70,000 after purchasing an additional 594 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in GeneDx by 479.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,818 shares of the company’s stock worth $168,000 after purchasing an additional 1,504 shares in the last quarter. Institutional investors and hedge funds 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.