GeneDx (NASDAQ:WGS) Shares Down 3% - Here's Why

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report)'s stock price traded down 3% during trading on Monday . The company traded as low as $57.02 and last traded at $57.05. 274,082 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 416,097 shares. The stock had previously closed at $58.82.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company began coverage on shares of GeneDx in a research note on Tuesday, August 27th. They set an "equal weight" rating and a $34.00 target price for the company. The Goldman Sachs Group boosted their price objective on GeneDx from $32.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday, October 16th. Craig Hallum upped their target price on GeneDx from $46.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday. BTIG Research lifted their target price on GeneDx from $35.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Finally, TD Cowen increased their price target on GeneDx from $46.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $45.67.

GeneDx Price Performance

The business has a 50-day moving average of $43.27 and a 200 day moving average of $31.22. The company has a current ratio of 2.38, a quick ratio of 2.22 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.46 billion, a P/E ratio of -11.36 and a beta of 2.32.

GeneDx (NASDAQ:WGS - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.15. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. The firm had revenue of $70.51 million during the quarter, compared to the consensus estimate of $58.90 million. On average, sell-side analysts predict that GeneDx Holdings Corp. will post -0.75 earnings per share for the current fiscal year.

Insider Transactions at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 3,639 shares of GeneDx stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $121,287.87. Following the completion of the transaction, the chief executive officer now owns 95,457 shares in the company, valued at approximately $3,181,581.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Katherine Stueland sold 3,639 shares of the firm's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.33, for a total transaction of $121,287.87. Following the transaction, the chief executive officer now directly owns 95,457 shares of the company's stock, valued at $3,181,581.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Opko Health, Inc. sold 88,839 shares of the company's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $33.50, for a total transaction of $2,976,106.50. Following the completion of the sale, the insider now directly owns 2,984,564 shares of the company's stock, valued at $99,982,894. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 356,240 shares of company stock valued at $11,770,553 over the last three months. Corporate insiders own 28.10% of the company's stock.

Institutional Trading of GeneDx

Hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC purchased a new position in GeneDx in the second quarter valued at about $34,000. nVerses Capital LLC bought a new position in GeneDx during the second quarter valued at $50,000. CWM LLC purchased a new stake in GeneDx in the third quarter worth $89,000. SG Americas Securities LLC bought a new stake in shares of GeneDx in the third quarter valued at $198,000. Finally, Thompson Davis & CO. Inc. raised its stake in shares of GeneDx by 20.8% in the first quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company's stock valued at $220,000 after buying an additional 4,150 shares during the period. 61.72% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.