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

GeneDx Holdings Corp. (NASDAQ:WGS) shares gapped down prior to trading on Monday . The stock had previously closed at $68.43, but opened at $66.36. GeneDx shares last traded at $69.32, with a volume of 72,210 shares.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Craig Hallum upped their price target on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. BTIG Research lifted their target price on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. TD Cowen raised their price objective on GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group increased their target price on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.33.

GeneDx Stock Down 0.1 %

The company has a market capitalization of $1.95 billion, a PE ratio of -22.84 and a beta of 2.11. 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 firm has a fifty day simple moving average of $57.43 and a 200-day simple moving average of $38.69.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.25. The company had revenue of $76.90 million during the quarter, compared to the consensus estimate of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The company’s revenue was up 44.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.82) EPS. Equities research analysts anticipate that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling at GeneDx

In other news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the sale, the insider now owns 2,866,833 shares of the company’s stock, valued at approximately $215,012,475. The trade was a 23.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 3,639 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $121,287.87. Following the completion of the transaction, the chief executive officer now directly owns 95,457 shares of the company’s stock, valued at $3,181,581.81. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,065,580 shares of company stock worth $78,848,138 over the last ninety days. Company insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WGS. Acadian Asset Management LLC bought a new position in shares of GeneDx in the second quarter valued at approximately $34,000. nVerses Capital LLC acquired a new stake in shares of GeneDx in the second quarter valued at $50,000. CWM LLC acquired a new position in GeneDx during the third quarter worth about $89,000. SG Americas Securities LLC acquired a new position in GeneDx in the 3rd quarter worth approximately $198,000. Finally, Point72 DIFC Ltd purchased a new position in GeneDx during the 3rd quarter worth approximately $220,000. Institutional investors own 61.72% of the company’s stock.

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.