GeneDx (NASDAQ:WGS) Shares Down 6.7% - Should You Sell?

Shares of GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) dropped 6.7% during trading on Thursday . The company 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.

Analyst Ratings Changes

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

GeneDx Price Performance

The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The company's fifty day moving average is $76.62 and its two-hundred day moving average is $59.99. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -22.68 and a beta of 2.01.

Insider Buying and Selling at GeneDx

In other news, CEO Katherine Stueland sold 22,307 shares of GeneDx stock in a transaction on Monday, November 18th. The shares were sold at an average price of $70.34, for a total transaction of $1,569,074.38. Following the completion of the sale, the chief executive officer now directly owns 60,011 shares of the company's stock, valued at approximately $4,221,173.74. The trade was a 27.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of GeneDx stock in a transaction on Friday, November 15th. The stock was sold at an average price of $69.78, for a total transaction of $1,420,651.02. Following the sale, the insider now directly owns 2,846,474 shares of the company's stock, valued at approximately $198,626,955.72. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 363,669 shares of company stock valued at $28,061,081 in the last 90 days. Company insiders own 27.30% of the company's stock.

Institutional Investors Weigh In On GeneDx

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of GeneDx by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company's stock worth $77,337,000 after purchasing an additional 156,768 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of GeneDx during the 4th quarter worth $51,496,000. Fred Alger Management LLC purchased a new stake in shares of GeneDx during the 3rd quarter worth $16,731,000. Geode Capital Management LLC lifted its position in shares of GeneDx by 8.7% during the 3rd quarter. Geode Capital Management LLC now owns 377,631 shares of the company's stock worth $16,030,000 after purchasing an additional 30,379 shares during the last quarter. Finally, State Street Corp lifted its position in shares of GeneDx by 18.3% during the 3rd quarter. State Street Corp now owns 314,914 shares of the company's stock worth $13,365,000 after purchasing an additional 48,735 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.