GeneDx (NASDAQ:WGS) Trading Down 7.8% – Should You Sell?
by Danessa Lincoln · The Markets DailyGeneDx Holdings Corp. (NASDAQ:WGS – Get Free Report)’s stock price traded down 7.8% during trading on Tuesday . The stock traded as low as $101.00 and last traded at $99.6950. 288,804 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 688,320 shares. The stock had previously closed at $108.08.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on WGS shares. Zacks Research cut shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. BTIG Research raised their target price on GeneDx from $165.00 to $200.00 and gave the company a “buy” rating in a report on Friday, December 12th. Wells Fargo & Company set a $155.00 price target on GeneDx and gave the company an “equal weight” rating in a research note on Monday, December 15th. Wall Street Zen downgraded GeneDx from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, GeneDx has an average rating of “Moderate Buy” and an average price target of $138.13.
Get Our Latest Stock Report on WGS
GeneDx Stock Down 7.8%
The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 1,107.56 and a beta of 2.01. 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’s fifty day moving average price is $139.95 and its 200-day moving average price is $124.00.
GeneDx (NASDAQ:WGS – Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.21. GeneDx had a return on equity of 20.22% and a net margin of 0.52%.The business had revenue of $116.74 million for the quarter, compared to analyst estimates of $104.33 million. Sell-side analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.
Insider Transactions at GeneDx
In other news, CFO Kevin Feeley sold 3,855 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $143.87, for a total value of $554,618.85. Following the completion of the transaction, the chief financial officer owned 8,731 shares of the company’s stock, valued at $1,256,128.97. This represents a 30.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joshua Ruch sold 38,000 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $160.37, for a total transaction of $6,094,060.00. Following the completion of the transaction, the director owned 11,941 shares of the company’s stock, valued at approximately $1,914,978.17. This trade represents a 76.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 60,163 shares of company stock worth $9,339,792. Insiders own 29.60% of the company’s stock.
Institutional Trading of GeneDx
Institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp increased its holdings in GeneDx by 664.3% in the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after purchasing an additional 186 shares during the period. Quarry LP grew its position in shares of GeneDx by 248.8% in the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 209 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of GeneDx in the third quarter valued at about $65,000. AlphaQuest LLC increased its stake in shares of GeneDx by 351.5% in the second quarter. AlphaQuest LLC now owns 763 shares of the company’s stock valued at $70,000 after buying an additional 594 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of 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 last quarter. 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.