GeneDx (NASDAQ:WGS) Shares Down 5.6% – What’s Next?

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price traded down 5.6% on Tuesday . The stock traded as low as $88.40 and last traded at $89.20. 354,673 shares changed hands during trading, a decline of 54% from the average session volume of 778,342 shares. The stock had previously closed at $94.51.

Analyst Ratings Changes

A number of brokerages recently issued reports on WGS. Jefferies Financial Group set a $150.00 price target on shares of GeneDx in a research report on Monday, February 23rd. Wells Fargo & Company upgraded shares of GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price objective on the stock in a research report on Monday, February 9th. Canaccord Genuity Group lifted their price objective on GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, January 21st. Finally, Wall Street Zen cut GeneDx from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, GeneDx presently has an average rating of “Moderate Buy” and a consensus target price of $150.71.

GeneDx Price Performance

The firm has a market cap of $2.29 billion, a PE ratio of -104.33 and a beta of 2.03. The firm’s fifty day simple moving average is $98.42 and its two-hundred day simple moving average is $121.46. The company has a quick ratio of 2.34, a current ratio of 2.46 and a debt-to-equity ratio of 0.16.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.11 by $0.03. GeneDx had a negative net margin of 4.92% and a positive return on equity of 14.73%. The firm had revenue of $120.99 million for the quarter, compared to the consensus estimate of $120.80 million. As a group, research analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Activity at GeneDx

In related news, Director Keith A. Meister bought 140,026 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was bought at an average cost of $81.19 per share, with a total value of $11,368,710.94. Following the completion of the purchase, the director owned 3,228,150 shares of the company’s stock, valued at approximately $262,093,498.50. The trade was a 4.53% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Katherine Stueland sold 25,459 shares of GeneDx stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $78.61, for a total transaction of $2,001,331.99. Following the completion of the sale, the chief executive officer owned 38,683 shares in the company, valued at approximately $3,040,870.63. This represents a 39.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 57,702 shares of company stock valued at $5,640,255. Corporate insiders own 29.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WGS. Arizona State Retirement System lifted its position in shares of GeneDx by 2.1% in the fourth quarter. Arizona State Retirement System now owns 5,594 shares of the company’s stock worth $728,000 after buying an additional 113 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of GeneDx by 6.0% during the 4th quarter. Cerity Partners LLC now owns 2,527 shares of the company’s stock worth $329,000 after acquiring an additional 142 shares in the last quarter. Main Management ETF Advisors LLC boosted its position in shares of GeneDx by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 15,660 shares of the company’s stock valued at $2,037,000 after acquiring an additional 160 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of GeneDx by 5.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,702 shares of the company’s stock valued at $399,000 after purchasing an additional 181 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its position in GeneDx by 664.3% in the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after purchasing an additional 186 shares during the last quarter. Hedge funds and other institutional investors 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.