Shares of GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) fell 5.1% during mid-day trading on Thursday . The company traded as low as $87.00 and last traded at $87.17. 463,343 shares traded hands during trading, a decline of 58% from the average session volume of 1,096,614 shares. The stock had previously closed at $91.88.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on WGS. TD Securities cut their price target on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research note on Friday, May 9th. Wall Street Zen upgraded GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Piper Sandler started coverage on GeneDx in a research note on Wednesday. They set an "overweight" rating and a $110.00 price target for the company. Finally, Wells Fargo & Company cut their target price on GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, GeneDx has an average rating of "Moderate Buy" and an average target price of $92.33.
Read Our Latest Report on WGS
GeneDx Stock Down 5.0%
The company has a quick ratio of 3.07, a current ratio of 3.25 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $2.36 billion, a PE ratio of -58.55 and a beta of 2.01. The stock has a 50-day moving average of $73.49 and a 200 day moving average of $82.69.
GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.11 by $0.17. GeneDx had a positive return on equity of 10.17% and a negative net margin of 11.69%. The business had revenue of $87.12 million for the quarter, compared to the consensus estimate of $79.90 million. Sell-side analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current year.
Insider Activity at GeneDx
In other news, Director Keith A. Meister acquired 100,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average price of $56.01 per share, for a total transaction of $5,601,000.00. Following the completion of the purchase, the director owned 3,008,629 shares in the company, valued at approximately $168,513,310.29. This trade represents a 3.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 9,657 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $90.94, for a total value of $878,207.58. Following the completion of the transaction, the chief executive officer owned 4,940 shares in the company, valued at approximately $449,243.60. The trade was a 66.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,411 shares of company stock worth $2,104,828. Insiders own 29.60% of the company's stock.
Hedge Funds Weigh In On GeneDx
Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in GeneDx by 151.7% during the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock valued at $39,000 after acquiring an additional 264 shares during the period. Palisades Investment Partners LLC raised its holdings in GeneDx by 0.4% during the 1st quarter. Palisades Investment Partners LLC now owns 83,913 shares of the company's stock valued at $7,432,000 after acquiring an additional 309 shares during the period. Sterling Capital Management LLC increased its holdings in shares of GeneDx by 877.8% in the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after purchasing an additional 316 shares during the period. MetLife Investment Management LLC increased its holdings in shares of GeneDx by 6.2% in the fourth quarter. MetLife Investment Management LLC now owns 7,750 shares of the company's stock worth $596,000 after purchasing an additional 453 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of GeneDx by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company's stock worth $677,000 after purchasing an additional 453 shares during the period. Hedge funds and other institutional investors own 61.72% of the company's stock.
About GeneDx
(
Get Free Report)
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.
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