GeneDx (NASDAQ:WGS) Stock Price Down 5.6% - Here's What Happened

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) shares were down 5.6% on Wednesday . The stock traded as low as $75.00 and last traded at $74.83. Approximately 226,379 shares changed hands during trading, a decline of 75% from the average daily volume of 891,348 shares. The stock had previously closed at $79.24.

Analyst Ratings Changes

A number of research analysts have issued reports on WGS shares. Wells Fargo & Company boosted their price target on GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Craig Hallum increased their price target on shares of GeneDx from $70.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. TD Cowen lifted their price objective on shares of GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group increased their target price on shares of GeneDx from $54.00 to $70.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $70.67.

GeneDx Stock Down 4.5 %

The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -24.33 and a beta of 2.02. The business has a fifty day simple moving average of $78.13 and a 200 day simple moving average of $57.42. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.21) by $0.25. The company had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The firm's revenue for the quarter was up 44.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.82) EPS. As a group, equities analysts forecast that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Insider Transactions at GeneDx

In related news, CFO Kevin Feeley sold 1,137 shares of the business's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $76.37, for a total value of $86,832.69. Following the sale, the chief financial officer now directly owns 24,731 shares in the company, valued at approximately $1,888,706.47. The trade was a 4.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of GeneDx stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $69.78, for a total transaction of $1,420,651.02. Following the completion of the sale, the insider now owns 2,846,474 shares of the company's stock, valued at $198,626,955.72. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,227,537 shares of company stock worth $92,844,458 in the last ninety days. Insiders own 27.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. lifted its stake in GeneDx by 36.1% during the second quarter. American Century Companies Inc. now owns 17,258 shares of the company's stock worth $451,000 after purchasing an additional 4,573 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of GeneDx in the 2nd quarter valued at $2,362,000. Cubist Systematic Strategies LLC boosted its stake in GeneDx by 573.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 76,701 shares of the company's stock worth $2,005,000 after purchasing an additional 65,312 shares during the period. Squarepoint Ops LLC grew its position in GeneDx by 124.9% during the 2nd quarter. Squarepoint Ops LLC now owns 59,949 shares of the company's stock worth $1,567,000 after purchasing an additional 33,293 shares during the last quarter. Finally, Millennium Management LLC increased its stake in GeneDx by 193.5% in the second quarter. Millennium Management LLC now owns 311,401 shares of the company's stock valued at $8,140,000 after purchasing an additional 205,318 shares during the period. 61.72% of the stock is currently 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.

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