GeneDx (NASDAQ:WGS) Shares Gap Down After Insider Selling

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) gapped down before the market opened on Friday after an insider sold shares in the company. The stock had previously closed at $81.69, but opened at $75.83. GeneDx shares last traded at $76.27, with a volume of 191,332 shares changing hands.

Specifically, CEO Katherine Stueland sold 2,154 shares of the firm's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $66.60, for a total transaction of $143,456.40. Following the completion of the transaction, the chief executive officer now owns 105,426 shares in the company, valued at approximately $7,021,371.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Analyst Ratings Changes

A number of research analysts have recently weighed in on WGS shares. Craig Hallum raised their price target on shares of GeneDx from $70.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday. The Goldman Sachs Group upped their price objective on shares of GeneDx from $54.00 to $70.00 and gave the company a "neutral" rating in a research report on Wednesday. TD Cowen boosted their price target on shares of GeneDx from $46.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. BTIG Research upped their target price on shares of GeneDx from $35.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company lifted their price objective on GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, GeneDx has a consensus rating of "Moderate Buy" and an average target price of $59.33.

GeneDx Price Performance

The company has a current ratio of 2.40, a quick ratio of 2.22 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -24.72 and a beta of 2.32. The stock has a fifty day moving average of $46.60 and a two-hundred day moving average of $32.76.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.25. The firm had revenue of $76.90 million during the quarter, compared to analysts' expectations of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. GeneDx's revenue was up 44.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.82) EPS. As a group, equities research analysts forecast that GeneDx Holdings Corp. will post -0.75 earnings per share for the current year.

Institutional Investors Weigh In On GeneDx

Several institutional investors have recently modified their holdings of WGS. Acadian Asset Management LLC bought a new stake in GeneDx in the second quarter valued at about $34,000. nVerses Capital LLC acquired a new stake in shares of GeneDx in the 2nd quarter valued at approximately $50,000. CWM LLC bought a new position in GeneDx during the 3rd quarter worth approximately $89,000. SG Americas Securities LLC bought a new stake in GeneDx in the third quarter valued at approximately $198,000. Finally, Palumbo Wealth Management LLC acquired a new stake in GeneDx in the third quarter worth $287,000. Institutional investors and hedge funds own 61.72% of the company's stock.

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.