GeneDx (NASDAQ:WGS) Stock Price Down 6.7% – Time to Sell?

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price dropped 6.7% during mid-day trading on Thursday . The company traded as low as $62.43 and last traded at $62.71. Approximately 444,893 shares were traded during trading, a decline of 55% from the average daily volume of 999,337 shares. The stock had previously closed at $67.18.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. TD Cowen raised their target price on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Craig Hallum upped their price target on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group increased their price target on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.67.

GeneDx Stock Down 4.2 %

The company’s fifty day simple moving average is $76.94 and its 200 day simple moving average is $59.14. The firm has a market capitalization of $1.64 billion, a P/E ratio of -19.14 and a beta of 2.01. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25.

Insiders Place Their Bets

In other news, major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $70.78, for a total value of $8,973,629.96. Following the sale, the insider now directly owns 2,719,692 shares of the company’s stock, valued at $192,499,799.76. The trade was a 4.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Katherine Stueland sold 1,657 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $78.48, for a total value of $130,041.36. Following the transaction, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at approximately $308,975.76. This trade represents a 29.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 363,669 shares of company stock worth $28,061,081. 27.30% of the stock is owned by corporate insiders.

Institutional Trading of GeneDx

Several institutional investors have recently added to or reduced their stakes in the business. MCF Advisors LLC increased its position in GeneDx by 107.7% during the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after acquiring an additional 182 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of GeneDx during the 4th quarter valued at about $28,000. Rhumbline Advisers lifted its stake in shares of GeneDx by 5.5% in the 4th quarter. Rhumbline Advisers now owns 19,750 shares of the company’s stock worth $1,518,000 after purchasing an additional 1,021 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of GeneDx by 10.6% in the fourth quarter. Principal Financial Group Inc. now owns 15,751 shares of the company’s stock worth $1,211,000 after buying an additional 1,511 shares during the last quarter. Finally, Palumbo Wealth Management LLC grew its position in GeneDx by 22.8% during the fourth quarter. Palumbo Wealth Management LLC now owns 8,303 shares of the company’s stock valued at $638,000 after buying an additional 1,542 shares during the period. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

GeneDx Company Profile

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.