GeneDx (NASDAQ:WGS) Stock Price Down 6.7% - What's Next?

Shares of GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) dropped 6.7% during mid-day trading on Thursday . The stock traded as low as $62.43 and last traded at $62.71. Approximately 444,893 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 999,337 shares. The stock had previously closed at $67.18.

Wall Street Analyst Weigh In

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

GeneDx Trading Up 14.5 %

The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $1.87 billion, a PE ratio of -21.91 and a beta of 2.01. The stock's fifty day simple moving average is $76.76 and its 200 day simple moving average is $59.75.

Insider Transactions at GeneDx

In related news, major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of GeneDx stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $70.78, for a total transaction of $8,973,629.96. Following the sale, the insider now owns 2,719,692 shares of the company's stock, valued at approximately $192,499,799.76. This trade represents a 4.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Katherine Stueland sold 23,108 shares of the company's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $70.48, for a total value of $1,628,651.84. Following the completion of the transaction, the chief executive officer now owns 82,318 shares of the company's stock, valued at $5,801,772.64. The trade was a 21.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 363,669 shares of company stock worth $28,061,081 in the last three months. Corporate insiders own 27.30% of the company's stock.

Hedge Funds Weigh In On GeneDx

Several institutional investors have recently bought and sold shares of the stock. MCF Advisors LLC grew its position in shares of GeneDx by 107.7% during the fourth quarter. MCF Advisors LLC now owns 351 shares of the company's stock valued at $27,000 after purchasing an additional 182 shares in the last quarter. Global Retirement Partners LLC bought a new position in GeneDx during the fourth quarter valued at approximately $28,000. Rhumbline Advisers grew its holdings in GeneDx by 5.5% during the 4th quarter. Rhumbline Advisers now owns 19,750 shares of the company's stock valued at $1,518,000 after buying an additional 1,021 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of GeneDx by 10.6% during the 4th quarter. Principal Financial Group Inc. now owns 15,751 shares of the company's stock worth $1,211,000 after acquiring an additional 1,511 shares in the last quarter. Finally, Palumbo Wealth Management LLC boosted its position in shares of GeneDx by 22.8% during the 4th quarter. Palumbo Wealth Management LLC now owns 8,303 shares of the company's stock valued at $638,000 after acquiring an additional 1,542 shares during the last quarter. 61.72% of the stock is owned by hedge funds and other 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.