GeneDx (NASDAQ:WGS) Shares Gap Down – Here’s Why

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $135.38, but opened at $130.00. GeneDx shares last traded at $120.0070, with a volume of 201,473 shares traded.

Analyst Ratings Changes

Several brokerages have recently issued reports on WGS. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, October 8th. Guggenheim reiterated a “buy” rating and set a $170.00 target price (up previously from $115.00) on shares of GeneDx in a research report on Wednesday, October 29th. Canaccord Genuity Group increased their price target on shares of GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Wall Street Zen lowered GeneDx from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Zacks Research downgraded shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, GeneDx presently has an average rating of “Moderate Buy” and an average target price of $138.13.

GeneDx Trading Down 4.8%

The business’s 50-day moving average price is $142.51 and its two-hundred day moving average price is $123.53. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.71 and a quick ratio of 2.59. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 1,161.78 and a beta of 2.01.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, October 28th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.28 by $0.21. GeneDx had a return on equity of 20.22% and a net margin of 0.52%.The firm had revenue of $116.74 million during the quarter, compared to analyst estimates of $104.33 million. Equities analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Katherine Stueland sold 10,857 shares of GeneDx stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $143.89, for a total value of $1,562,213.73. Following the transaction, the chief executive officer owned 14,237 shares in the company, valued at approximately $2,048,561.93. This trade represents a 43.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Feeley sold 3,855 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $143.87, for a total value of $554,618.85. Following the sale, the chief financial officer owned 8,731 shares of the company’s stock, valued at $1,256,128.97. The trade was a 30.63% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 60,163 shares of company stock valued at $9,339,792. 29.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GeneDx

A number of institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its holdings in GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after buying an additional 186 shares during the last quarter. Quarry LP increased its holdings in shares of GeneDx by 248.8% during the third quarter. Quarry LP now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 209 shares during the period. Gordian Capital Singapore Pte Ltd bought a new stake in shares of GeneDx during the 3rd quarter worth about $65,000. AlphaQuest LLC lifted its position in GeneDx by 351.5% in the second quarter. AlphaQuest LLC now owns 763 shares of the company’s stock worth $70,000 after purchasing an additional 594 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in GeneDx by 479.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,818 shares of the company’s stock worth $168,000 after acquiring an additional 1,504 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.