GeneDx (NASDAQ:WGS) Shares Gap Down - Should You Sell?

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $75.30, but opened at $72.35. GeneDx shares last traded at $74.60, with a volume of 34,377 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently commented on WGS. Craig Hallum boosted their price target on GeneDx from $70.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of GeneDx from $34.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price target on shares of GeneDx from $54.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, GeneDx has an average rating of "Moderate Buy" and a consensus target price of $59.33.

GeneDx Stock Up 2.8 %

The firm's 50-day simple moving average is $72.11 and its 200-day simple moving average is $46.96. 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 company has a market capitalization of $2.13 billion, a price-to-earnings ratio of -24.89 and a beta of 2.03.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 13.35% and a negative net margin of 31.25%. The company's quarterly revenue was up 44.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.82) EPS. Sell-side analysts forecast that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

Insider Transactions at GeneDx

In other news, major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $69.78, for a total value of $1,420,651.02. Following the transaction, the insider now directly owns 2,846,474 shares of the company's stock, valued at $198,626,955.72. The trade was a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Katherine Stueland sold 2,154 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total value of $143,456.40. Following the sale, the chief executive officer now owns 105,426 shares in the company, valued at approximately $7,021,371.60. This trade represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,123,603 shares of company stock valued at $83,300,382. Corporate insiders own 27.30% of the company's stock.

Institutional Investors Weigh In On GeneDx

A number of hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new stake in shares of GeneDx in the 2nd quarter valued at $34,000. nVerses Capital LLC acquired a new stake in GeneDx in the second quarter worth about $50,000. CWM LLC acquired a new stake in GeneDx in the third quarter worth about $89,000. Verition Fund Management LLC raised its holdings in GeneDx by 12.9% during the 3rd quarter. Verition Fund Management LLC now owns 25,845 shares of the company's stock worth $1,097,000 after purchasing an additional 2,945 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in GeneDx by 36.1% during the 2nd quarter. American Century Companies Inc. now owns 17,258 shares of the company's stock valued at $451,000 after purchasing an additional 4,573 shares during the period. Institutional investors own 61.72% of the company's stock.

GeneDx Company Profile

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.