GeneDx (NASDAQ:WGS) Shares Down 5.9% – Should You Sell?

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price was down 5.9% during mid-day trading on Tuesday. The company traded as low as $83.06 and last traded at $80.8290. 141,509 shares changed hands during trading, a decline of 85% from the average daily volume of 930,850 shares. The stock had previously closed at $85.93.

Analyst Ratings Changes

A number of brokerages recently commented on WGS. Zacks Research upgraded shares of GeneDx from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 26th. Guggenheim reiterated a “buy” rating and set a $74.00 target price (up from $70.00) on shares of GeneDx in a research report on Monday, June 29th. Canaccord Genuity Group lifted their price target on GeneDx from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. TD Cowen reaffirmed a “buy” rating on shares of GeneDx in a report on Wednesday, July 15th. Finally, BTIG Research reiterated a “buy” rating and issued a $90.00 price objective on shares of GeneDx in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.57.

GeneDx Stock Performance

The firm has a fifty day moving average of $80.89 and a 200-day moving average of $67.48. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of -21.43 and a beta of 1.99. The company has a quick ratio of 3.06, a current ratio of 3.30 and a debt-to-equity ratio of 0.40.

GeneDx (NASDAQ:WGS) last posted its earnings results on Monday, August 3rd. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.20. GeneDx had a positive return on equity of 4.12% and a negative net margin of 23.41%.The company had revenue of $114.44 million for the quarter, compared to analyst estimates of $111.01 million. During the same quarter in the prior year, the company earned $0.36 earnings per share. As a group, sell-side analysts anticipate that GeneDx Holdings Corp. will post -0.41 EPS for the current year.

Insider Transactions at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 3,728 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $97.61, for a total transaction of $363,890.08. Following the completion of the transaction, the chief financial officer directly owned 44,945 shares in the company, valued at approximately $4,387,081.45. This trade represents a 7.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Katherine Stueland sold 10,501 shares of GeneDx stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $97.61, for a total transaction of $1,025,002.61. Following the transaction, the chief executive officer owned 115,476 shares of the company’s stock, valued at approximately $11,271,612.36. The trade was a 8.34% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 19,206 shares of company stock worth $1,808,056. 25.17% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GeneDx

A number of institutional investors and hedge funds have recently bought and sold shares of WGS. Main Management ETF Advisors LLC grew its position in shares of GeneDx by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 15,660 shares of the company’s stock worth $2,037,000 after buying an additional 160 shares in the last quarter. Strs Ohio boosted its stake in GeneDx by 8.7% during the 1st quarter. Strs Ohio now owns 2,500 shares of the company’s stock valued at $161,000 after acquiring an additional 200 shares during the last quarter. Ramirez Asset Management Inc. bought a new position in GeneDx during the 4th quarter valued at $33,000. Pictet Asset Management Holding SA grew its holdings in GeneDx by 12.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 3,300 shares of the company’s stock worth $212,000 after acquiring an additional 378 shares in the last quarter. Finally, Swiss National Bank grew its holdings in GeneDx by 1.0% during the 1st quarter. Swiss National Bank now owns 40,000 shares of the company’s stock worth $2,569,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

About GeneDx

GeneDx Holdings Corp., doing business as GeneDx, is a healthcare company focused on genetic testing and genomic diagnostics. The company provides testing designed to help healthcare professionals diagnose rare and inherited conditions, guide clinical management, and support research into genetic disease.

Its offerings include whole exome and whole genome sequencing, targeted genetic tests, chromosomal microarray analysis, and other tests used to identify disease-causing genetic variants.