Shares of GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) dropped 6.3% during trading on Wednesday . The company traded as low as $104.41 and last traded at $105.68. Approximately 433,367 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 1,199,471 shares. The stock had previously closed at $112.76.
Wall Street Analyst Weigh In
Several research firms recently weighed in on WGS. Craig Hallum upped their price objective 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. Wells Fargo & Company upped 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. 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 research note on Tuesday, January 7th. Finally, The Goldman Sachs Group upped their target price on GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $72.33.
Check Out Our Latest Stock Report on GeneDx
GeneDx Stock Performance
The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -48.89 and a beta of 2.01. 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 stock's 50-day moving average is $79.05 and its 200-day moving average is $62.88.
GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.66. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The company had revenue of $95.64 million during the quarter, compared to the consensus estimate of $82.24 million. On average, analysts predict that GeneDx Holdings Corp. will post 0.52 EPS for the current fiscal year.
Insider Buying and Selling at GeneDx
In related news, CEO Katherine Stueland sold 51,420 shares of the business's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total value of $4,858,161.60. Following the sale, the chief executive officer now owns 1,720 shares of the company's stock, valued at $162,505.60. The trade was a 96.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin Feeley sold 1,430 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.04, for a total value of $108,737.20. Following the completion of the sale, the chief financial officer now owns 26,770 shares of the company's stock, valued at $2,035,590.80. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,584 shares of company stock worth $11,336,520. 27.30% of the stock is currently owned by insiders.
Hedge Funds Weigh In On GeneDx
A number of hedge funds and other institutional investors have recently made changes to their positions in WGS. MCF Advisors LLC lifted its holdings in GeneDx by 107.7% in the fourth quarter. MCF Advisors LLC now owns 351 shares of the company's stock valued at $27,000 after buying an additional 182 shares during the period. Sterling Capital Management LLC raised its position in shares of GeneDx by 877.8% in the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after acquiring an additional 316 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of GeneDx in the 4th quarter valued at about $28,000. MetLife Investment Management LLC boosted its position in shares of GeneDx by 6.2% during the 4th quarter. MetLife Investment Management LLC now owns 7,750 shares of the company's stock valued at $596,000 after purchasing an additional 453 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in GeneDx during the fourth quarter worth approximately $35,000. 61.72% of the stock is owned by institutional investors and hedge funds.
GeneDx Company Profile
(
Get Free Report)
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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