GeneDx (NASDAQ:WGS) Shares Gap Down – Should You Sell?

GeneDx Holdings Corp. (NASDAQ:WGS)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $75.30, but opened at $72.35. GeneDx shares last traded at $74.60, with a volume of 34,377 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WGS shares. Craig Hallum boosted their price target on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group increased their price target on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.33.

GeneDx Stock Up 2.9 %

The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -24.93 and a beta of 2.03. The business has a 50 day moving average of $72.11 and a 200 day moving average of $46.96. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.25. The firm had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The company’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.82) earnings per share. On average, equities analysts anticipate that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Insider Transactions at GeneDx

In other news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the sale, the insider now directly owns 2,866,833 shares of the company’s stock, valued at $215,012,475. This represents a 23.20 % 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 2,154 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total transaction of $143,456.40. Following the completion of the transaction, the chief executive officer now owns 105,426 shares of the company’s stock, valued at $7,021,371.60. This trade represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,123,603 shares of company stock valued at $83,300,382 in the last three months. 27.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WGS. Calamos Advisors LLC bought a new position in shares of GeneDx in the 2nd quarter worth $1,137,000. Bank of New York Mellon Corp acquired a new position in GeneDx in the second quarter valued at about $991,000. nVerses Capital LLC bought a new position in GeneDx during the second quarter worth about $50,000. Rhumbline Advisers boosted its holdings in GeneDx by 8,096.4% during the second quarter. Rhumbline Advisers now owns 18,360 shares of the company’s stock worth $480,000 after buying an additional 18,136 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of GeneDx during the 2nd quarter worth about $34,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

About GeneDx

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.