GeneDx (NASDAQ:WGS) Stock Price Down 12.2% on Insider Selling

GeneDx Holdings Corp. (NASDAQ:WGS) dropped 12.2% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $82.09 and last traded at $83.6350. Approximately 993,648 shares changed hands during trading, an increase of 37% from the average daily volume of 724,660 shares. The stock had previously closed at $95.23.

Specifically, COO Bryan Dechairo sold 3,413 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $99.53, for a total value of $339,695.89. Following the completion of the transaction, the chief operating officer directly owned 5,961 shares in the company, valued at $593,298.33. This trade represents a 36.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Katherine Stueland sold 1,653 shares of the business’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $94.00, for a total transaction of $155,382.00. Following the transaction, the chief executive officer owned 16,458 shares in the company, valued at $1,547,052. This represents a 9.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In related news, CFO Kevin Feeley sold 317 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $93.99, for a total value of $29,794.83. Following the completion of the sale, the chief financial officer directly owned 9,168 shares in the company, valued at approximately $861,700.32. This trade represents a 3.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WGS. Wall Street Zen raised GeneDx from a “hold” rating to a “buy” rating in a research report on Saturday. Canaccord Genuity Group lifted their price objective on shares of GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. BTIG Research raised their target price on shares of GeneDx from $165.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, January 21st. Finally, Guggenheim restated a “buy” rating and set a $170.00 price objective (up from $115.00) on shares of GeneDx in a research report on Wednesday, October 29th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $138.13.

GeneDx Price Performance

The company has a fifty day simple moving average of $131.03 and a two-hundred day simple moving average of $125.13. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 940.71 and a beta of 2.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.59 and a current ratio of 2.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp grew its holdings in shares of GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after purchasing an additional 186 shares during the last quarter. Quarry LP raised its holdings in GeneDx by 248.8% in the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 209 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in GeneDx during the 3rd quarter worth approximately $65,000. AlphaQuest LLC grew its holdings in GeneDx by 351.5% during the 2nd quarter. AlphaQuest LLC now owns 763 shares of the company’s stock worth $70,000 after acquiring an additional 594 shares during the last quarter. Finally, Spire Wealth Management acquired a new position in GeneDx in the 4th quarter valued at approximately $221,000. Institutional investors own 61.72% of the company’s stock.

About GeneDx

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.