GeneDx (NASDAQ:WGS) Shares Down 8% – Here’s What Happened

GeneDx Holdings Corp. (NASDAQ:WGS) fell 8% on Friday . The company traded as low as $83.35 and last traded at $83.46. 432,873 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 712,922 shares. The stock had previously closed at $90.68.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WGS shares. BTIG Research lifted their price objective 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. Wells Fargo & Company raised shares of GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price target on the stock in a research note on Monday, February 9th. Canaccord Genuity Group boosted their price objective on shares of GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Weiss Ratings restated a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, January 21st. Finally, Wall Street Zen cut GeneDx from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $146.43.

GeneDx Price Performance

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 company has a 50 day simple moving average of $113.78 and a 200-day simple moving average of $124.71. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 911.78 and a beta of 2.00.

Insider Transactions at GeneDx

In other GeneDx news, Director Joshua Ruch sold 38,000 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $160.37, for a total transaction of $6,094,060.00. Following the sale, the director directly owned 11,941 shares of the company’s stock, valued at approximately $1,914,978.17. This represents a 76.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Katherine Stueland sold 1,653 shares of the firm’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $94.00, for a total transaction of $155,382.00. Following the completion of the transaction, the chief executive officer owned 16,458 shares in the company, valued at approximately $1,547,052. The trade was a 9.13% 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 68,961 shares of company stock valued at $10,027,891. 29.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GeneDx

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in GeneDx by 4.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,220,502 shares of the company’s stock worth $158,738,000 after acquiring an additional 52,322 shares during the last quarter. Vanguard Group Inc. raised its position in shares of GeneDx by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 1,189,069 shares of the company’s stock worth $154,650,000 after purchasing an additional 18,647 shares during the period. Franklin Resources Inc. lifted its holdings in shares of GeneDx by 60.4% in the 4th quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company’s stock worth $142,154,000 after purchasing an additional 411,607 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in GeneDx by 87.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock valued at $132,435,000 after purchasing an additional 474,167 shares during the period. Finally, Invesco Ltd. boosted its position in GeneDx by 59.2% during the 4th quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock valued at $102,288,000 after purchasing an additional 292,394 shares during the period. 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.