GeneDx (NASDAQ:WGS) Shares Down 7.8% – Here’s Why

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price was down 7.8% during trading on Tuesday . The company traded as low as $101.00 and last traded at $99.6950. Approximately 288,804 shares were traded during trading, a decline of 58% from the average daily volume of 688,320 shares. The stock had previously closed at $108.08.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Zacks Research cut GeneDx from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, October 8th. Wells Fargo & Company set a $155.00 target price on GeneDx and gave the company an “equal weight” rating in a research report on Monday, December 15th. Wall Street Zen downgraded GeneDx from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, BTIG Research lifted their price objective on shares of GeneDx from $165.00 to $200.00 and gave the company a “buy” rating in a report on Friday, December 12th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, GeneDx currently has a consensus rating of “Moderate Buy” and an average price target of $138.13.

GeneDx Stock Down 7.8%

The company has a market cap of $2.88 billion, a price-to-earnings ratio of 1,107.56 and a beta of 2.01. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.71 and a quick ratio of 2.59. The firm has a 50-day moving average price of $139.95 and a 200 day moving average price of $124.00.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.21. The business had revenue of $116.74 million during the quarter, compared to the consensus estimate of $104.33 million. GeneDx had a return on equity of 20.22% and a net margin of 0.52%. Sell-side analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Buying and Selling

In other GeneDx news, CFO Kevin Feeley sold 3,855 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $143.87, for a total transaction of $554,618.85. Following the transaction, the chief financial officer owned 8,731 shares in the company, valued at $1,256,128.97. This represents a 30.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joshua Ruch sold 38,000 shares of GeneDx stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $160.37, for a total transaction of $6,094,060.00. Following the completion of the sale, the director owned 11,941 shares of the company’s stock, valued at approximately $1,914,978.17. The trade was a 76.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 60,163 shares of company stock valued at $9,339,792. 29.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On GeneDx

A number of hedge funds have recently added to or reduced their stakes in WGS. Jones Financial Companies Lllp raised its holdings in GeneDx by 664.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after acquiring an additional 186 shares in the last quarter. Quarry LP increased its position in shares of GeneDx by 248.8% in the third quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 209 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new position in GeneDx in the third quarter valued at about $65,000. AlphaQuest LLC lifted its position in GeneDx by 351.5% during the second quarter. AlphaQuest LLC now owns 763 shares of the company’s stock worth $70,000 after purchasing an additional 594 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in GeneDx by 479.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,818 shares of the company’s stock worth $168,000 after buying an additional 1,504 shares in the last quarter. Institutional investors own 61.72% of the company’s stock.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.