GeneDx (NASDAQ:WGS) Trading Down 7.2%

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price traded down 7.2% during mid-day trading on Thursday . The stock traded as low as $19.12 and last traded at $19.42. 112,099 shares changed hands during trading, a decline of 68% from the average session volume of 347,329 shares. The stock had previously closed at $20.92.

Analyst Ratings Changes

A number of analysts have commented on WGS shares. TD Cowen upped their price target on GeneDx from $14.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group increased their target price on shares of GeneDx to $11.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Finally, BTIG Research lifted their price target on shares of GeneDx from $15.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday.

GeneDx Price Performance

The company has a current ratio of 3.22, a quick ratio of 2.95 and a debt-to-equity ratio of 0.25. The stock has a 50 day simple moving average of $10.37 and a 200-day simple moving average of $5.51. The firm has a market cap of $512.14 million, a PE ratio of -3.80 and a beta of 2.17.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.01. The firm had revenue of $57.42 million during the quarter, compared to analyst estimates of $57.00 million. GeneDx had a negative return on equity of 36.23% and a negative net margin of 60.86%. Equities analysts anticipate that GeneDx Holdings Corp. will post -2.02 earnings per share for the current fiscal year.

Insider Buying and Selling at GeneDx

In other news, CFO Kevin Feeley sold 3,253 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $10.59, for a total value of $34,449.27. Following the transaction, the chief financial officer now owns 28,927 shares of the company’s stock, valued at $306,336.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Kevin Feeley sold 3,253 shares of GeneDx stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $10.59, for a total value of $34,449.27. Following the sale, the chief financial officer now directly owns 28,927 shares of the company’s stock, valued at $306,336.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Katherine Stueland sold 6,325 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $11.04, for a total value of $69,828.00. Following the completion of the sale, the chief executive officer now owns 75,869 shares in the company, valued at $837,593.76. The disclosure for this sale can be found here. Insiders sold a total of 21,249 shares of company stock valued at $228,370 in the last three months. 28.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Thompson Davis & CO. Inc. lifted its position in GeneDx by 20.8% during the first quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock valued at $220,000 after purchasing an additional 4,150 shares during the last quarter. PFG Investments LLC purchased a new stake in shares of GeneDx during the 1st quarter valued at about $95,000. HighTower Advisors LLC increased its stake in GeneDx by 14.1% during the third quarter. HighTower Advisors LLC now owns 237,948 shares of the company’s stock worth $865,000 after acquiring an additional 29,361 shares during the last quarter. Pathstone Family Office LLC raised its position in GeneDx by 262.2% during the third quarter. Pathstone Family Office LLC now owns 54,327 shares of the company’s stock valued at $198,000 after purchasing an additional 39,327 shares during the period. Finally, Decheng Capital LLC bought a new stake in shares of GeneDx in the 4th quarter valued at approximately $285,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

About GeneDx

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.