GeneDx (NASDAQ:WGS) Trading Down 3.8% - Should You Sell?

Shares of GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) traded down 3.8% on Thursday . The company traded as low as $67.40 and last traded at $67.65. 51,301 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 775,365 shares. The stock had previously closed at $70.32.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WGS. Wells Fargo & Company decreased their price target 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. The Goldman Sachs Group lifted their target price on GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Jefferies Financial Group raised GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research note on Friday, May 9th. TD Securities dropped their target price on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Guggenheim began coverage on shares of GeneDx in a report on Thursday, May 15th. They set a "buy" rating and a $88.00 price target on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, GeneDx currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.75.

GeneDx Stock Down 2.7%

The firm has a 50-day simple moving average of $78.43 and a 200 day simple moving average of $81.89. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The stock has a market capitalization of $1.84 billion, a P/E ratio of -32.94 and a beta of 1.94.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.11 by $0.17. The business had revenue of $87.12 million for the quarter, compared to the consensus estimate of $79.90 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. On average, equities research analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Activity at GeneDx

In other news, Director Keith A. Meister purchased 100,000 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were purchased at an average price of $56.01 per share, for a total transaction of $5,601,000.00. Following the transaction, the director now owns 3,008,629 shares of the company's stock, valued at approximately $168,513,310.29. This trade represents a 3.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kevin Feeley sold 3,749 shares of GeneDx stock in a transaction on Monday, March 17th. The stock was sold at an average price of $96.71, for a total transaction of $362,565.79. Following the transaction, the chief financial officer now directly owns 8,492 shares of the company's stock, valued at $821,261.32. This represents a 30.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,627 shares of company stock worth $12,590,999 over the last three months. Company insiders own 29.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. William Blair Investment Management LLC bought a new position in shares of GeneDx during the 4th quarter worth approximately $51,496,000. Lord Abbett & CO. LLC acquired a new position in shares of GeneDx during the 4th quarter valued at $48,458,000. Summit Partners Public Asset Management LLC boosted its stake in GeneDx by 336.9% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock worth $58,073,000 after acquiring an additional 582,619 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in GeneDx during the first quarter worth $44,614,000. Finally, Alliancebernstein L.P. boosted its stake in GeneDx by 3,054.5% during the first quarter. Alliancebernstein L.P. now owns 436,900 shares of the company's stock worth $38,694,000 after acquiring an additional 423,050 shares in the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

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.