GeneDx (NASDAQ:WGS) Shares Down 2.6%

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report)'s stock price traded down 2.6% on Friday . The stock traded as low as $33.34 and last traded at $33.34. 11,786 shares were traded during mid-day trading, a decline of 97% from the average session volume of 384,516 shares. The stock had previously closed at $34.22.

Analyst Upgrades and Downgrades

WGS has been the subject of several research reports. The Goldman Sachs Group upped their price objective on shares of GeneDx to $11.00 and gave the stock a "neutral" rating in a report on Monday, April 15th. TD Cowen raised their price objective on shares of GeneDx from $14.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, April 30th. BTIG Research upped their target price on GeneDx from $19.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, June 26th. Craig Hallum assumed coverage on GeneDx in a research note on Wednesday. They issued a "buy" rating and a $43.00 target price for the company. Finally, Jefferies Financial Group began coverage on GeneDx in a research note on Monday, June 3rd. They issued a "hold" rating and a $21.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, GeneDx presently has an average rating of "Moderate Buy" and an average target price of $26.80.

GeneDx Stock Down 4.1 %

The company has a debt-to-equity ratio of 0.25, a current ratio of 3.22 and a quick ratio of 2.99. The stock's 50 day simple moving average is $24.93 and its two-hundred day simple moving average is $13.46. The firm has a market cap of $856.80 million, a P/E ratio of -6.33 and a beta of 2.29.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Monday, April 29th. The company reported ($0.33) earnings per share for the quarter, beating analysts' consensus estimates of ($0.68) by $0.35. GeneDx had a negative return on equity of 36.23% and a negative net margin of 60.86%. The company had revenue of $62.42 million during the quarter, compared to analyst estimates of $49.80 million. As a group, research analysts forecast that GeneDx Holdings Corp. will post -0.92 earnings per share for the current year.

Insider Buying and Selling at GeneDx

In related news, CEO Katherine Stueland sold 6,325 shares of the firm's stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $11.04, for a total value of $69,828.00. Following the transaction, the chief executive officer now owns 75,869 shares of the company's stock, valued at $837,593.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other GeneDx news, Director Casdin Capital, Llc acquired 7,500 shares of the stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average cost of $19.59 per share, for a total transaction of $146,925.00. Following the completion of the transaction, the director now directly owns 2,761,009 shares of the company's stock, valued at $54,088,166.31. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Katherine Stueland sold 6,325 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $11.04, for a total value of $69,828.00. Following the sale, the chief executive officer now owns 75,869 shares of the company's stock, valued at approximately $837,593.76. The disclosure for this sale can be found here. In the last three months, insiders have acquired 175,804 shares of company stock worth $3,771,670 and have sold 121,505 shares worth $3,211,829. Company insiders own 28.10% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WGS. PFG Investments LLC bought a new stake in shares of GeneDx in the first quarter worth about $95,000. Legal Advantage Investments Inc. purchased a new stake in shares of GeneDx during the 2nd quarter worth approximately $518,000. Thompson Davis & CO. Inc. boosted its position in shares of GeneDx by 99.4% during the 4th quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company's stock valued at $55,000 after acquiring an additional 9,944 shares during the last quarter. Decheng Capital LLC purchased a new position in shares of GeneDx in the fourth quarter valued at $285,000. Finally, Gagnon Advisors LLC increased its position in GeneDx by 41.6% in the first quarter. Gagnon Advisors LLC now owns 211,393 shares of the company's stock worth $1,930,000 after purchasing an additional 62,059 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.