GeneDx (NASDAQ:WGS) Stock Price Down 6.6% – Should You Sell?

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price dropped 6.6% during trading on Wednesday . The stock traded as low as $95.62 and last traded at $93.93. Approximately 103,628 shares were traded during trading, a decline of 83% from the average daily volume of 619,638 shares. The stock had previously closed at $100.59.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. TD Cowen upped their target price on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $72.33.

GeneDx Stock Down 5.8 %

The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The stock’s fifty day moving average is $85.82 and its two-hundred day moving average is $73.21. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -48.36 and a beta of 1.91.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The business had revenue of $95.64 million during the quarter, compared to analyst estimates of $82.24 million. Sell-side analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at GeneDx

In other news, CEO Katherine Stueland sold 10,559 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $96.71, for a total transaction of $1,021,160.89. Following the completion of the transaction, the chief executive officer now directly owns 14,865 shares in the company, valued at $1,437,594.15. This trade represents a 41.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Feeley sold 1,430 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.04, for a total transaction of $108,737.20. Following the completion of the transaction, the chief financial officer now owns 26,770 shares in the company, valued at approximately $2,035,590.80. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,735 shares of company stock worth $11,719,787 over the last ninety days. Insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP bought a new position in GeneDx in the 4th quarter valued at approximately $10,821,000. California State Teachers Retirement System boosted its position in shares of GeneDx by 13.3% during the fourth quarter. California State Teachers Retirement System now owns 11,384 shares of the company’s stock valued at $875,000 after buying an additional 1,335 shares during the last quarter. Polar Asset Management Partners Inc. bought a new stake in GeneDx in the 4th quarter worth about $1,007,000. Palisades Investment Partners LLC purchased a new position in GeneDx in the 4th quarter worth about $6,425,000. Finally, Castleark Management LLC bought a new position in GeneDx during the 4th quarter valued at about $4,743,000. Institutional investors own 61.72% of the company’s stock.

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.