GeneDx (NASDAQ:WGS) Trading Down 4.5%

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price dropped 4.5% during mid-day trading on Wednesday . The company traded as low as $35.88 and last traded at $37.31. Approximately 204,628 shares traded hands during trading, a decline of 49% from the average daily volume of 398,119 shares. The stock had previously closed at $39.07.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. The Goldman Sachs Group increased their price target on shares of GeneDx from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. BTIG Research increased their target price on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. TD Cowen upped their price target on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company assumed coverage on GeneDx in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price objective for the company. Finally, Craig Hallum boosted their price objective on shares of GeneDx from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, GeneDx has an average rating of “Moderate Buy” and an average price target of $38.00.

GeneDx Trading Down 3.7 %

The stock has a market cap of $982.45 million, a P/E ratio of -7.12 and a beta of 2.29. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.38 and a quick ratio of 2.22. The firm’s 50 day moving average price is $33.89 and its 200-day moving average price is $24.25.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share for the quarter, topping 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 analysts’ expectations of $58.90 million. As a group, equities research analysts forecast that GeneDx Holdings Corp. will post -0.75 earnings per share for the current year.

Insider Transactions at GeneDx

In other GeneDx news, major shareholder Opko Health, Inc. sold 100,000 shares of GeneDx stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.82, for a total value of $3,182,000.00. Following the sale, the insider now directly owns 2,871,570 shares in the company, valued at approximately $91,373,357.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other GeneDx news, major shareholder Opko Health, Inc. sold 100,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the completion of the transaction, the insider now owns 2,871,570 shares in the company, valued at $91,373,357.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Katherine Stueland sold 2,154 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $33.54, for a total value of $72,245.16. Following the completion of the sale, the chief executive officer now owns 92,550 shares in the company, valued at approximately $3,104,127. The disclosure for this sale can be found here. Insiders sold 743,868 shares of company stock worth $24,114,996 in the last three months. Corporate insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On GeneDx

Several institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in shares of GeneDx in the 2nd quarter valued at about $34,000. nVerses Capital LLC acquired a new position in shares of GeneDx during the 2nd quarter worth approximately $50,000. Thompson Davis & CO. Inc. lifted its position in shares of GeneDx by 20.8% during the 1st 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 in the last quarter. Decheng Capital LLC acquired a new stake in GeneDx in the 4th quarter valued at $285,000. Finally, The Manufacturers Life Insurance Company purchased a new position in GeneDx in the 2nd quarter valued at $290,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.