GeneDx (NASDAQ:WGS) Stock Price Down 6.3% - What's Next?

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report)'s stock price traded down 6.3% during mid-day trading on Friday . The company traded as low as $88.25 and last traded at $90.48. 91,160 shares changed hands during trading, a decline of 88% from the average session volume of 792,299 shares. The stock had previously closed at $96.57.

Analyst Upgrades and Downgrades

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

GeneDx Stock Performance

The company's 50 day simple moving average is $77.78 and its 200 day simple moving average is $52.76. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -28.74 and a beta of 2.02. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40.

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

Insider Activity

In other news, Director Jason Ryan sold 31,510 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $71.28, for a total transaction of $2,246,032.80. Following the completion of the sale, the director now directly owns 15,490 shares of the company's stock, valued at $1,104,127.20. This trade represents a 67.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Katherine Stueland sold 2,154 shares of the firm's stock in a transaction 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 directly owns 105,426 shares of the company's stock, valued at approximately $7,021,371.60. This 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 have sold 1,143,039 shares of company stock worth $84,816,828. 27.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On GeneDx

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new stake in shares of GeneDx during the 2nd quarter worth $2,362,000. Chartwell Investment Partners LLC acquired a new stake in shares of GeneDx in the third quarter worth $1,722,000. Charles Schwab Investment Management Inc. boosted its position in shares of GeneDx by 304.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company's stock worth $6,240,000 after buying an additional 110,666 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of GeneDx in the third quarter worth $325,000. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of GeneDx in the third quarter worth $1,554,000. 61.72% of the stock is owned by institutional investors.

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.