GeneDx Holdings Corp. (NASDAQ:WGS – Get Free Report) traded down 7.6% on Wednesday . The company traded as low as $32.44 and last traded at $32.67. 166,859 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 398,326 shares. The stock had previously closed at $35.35.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on WGS shares. TD Cowen lifted their target price on GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Craig Hallum upped their target price 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. The Goldman Sachs Group raised their target price on shares of GeneDx from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company initiated coverage on shares of GeneDx in a report on Tuesday. They set an “equal weight” rating and a $34.00 price target for the company. Finally, BTIG Research raised their price objective on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, GeneDx presently has a consensus rating of “Moderate Buy” and an average price target of $38.00.
GeneDx Stock Down 10.4 %
The firm has a market capitalization of $827.81 million, a PE ratio of -6.36 and a beta of 2.29. The business’s fifty day moving average price is $31.36 and its 200 day moving average price is $20.25. The company has a quick ratio of 2.99, a current ratio of 2.38 and a debt-to-equity ratio of 0.27.
GeneDx (NASDAQ:WGS – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, beating 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%. On average, equities research analysts forecast that GeneDx Holdings Corp. will post -0.75 earnings per share for the current fiscal year.
Insider Transactions at GeneDx
In other news, major shareholder Opko Health, Inc. sold 50,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $34.49, for a total transaction of $1,724,500.00. Following the transaction, the insider now directly owns 2,646,972 shares of the company’s stock, valued at approximately $91,294,064.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Casdin Capital, Llc bought 100,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were purchased at an average price of $20.82 per share, for a total transaction of $2,082,000.00. Following the completion of the transaction, the director now owns 3,063,509 shares in the company, valued at $63,782,257.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Opko Health, Inc. sold 50,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $34.49, for a total value of $1,724,500.00. Following the completion of the transaction, the insider now owns 2,646,972 shares of the company’s stock, valued at $91,294,064.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 752,948 shares of company stock worth $24,336,375. Company insiders own 28.10% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Decheng Capital LLC acquired a new position in GeneDx in the fourth quarter valued at $285,000. Calamos Advisors LLC acquired a new position in shares of GeneDx in the 2nd quarter valued at about $1,137,000. Vanguard Group Inc. grew its holdings in shares of GeneDx by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock worth $6,460,000 after purchasing an additional 28,678 shares during the period. Assenagon Asset Management S.A. acquired a new stake in GeneDx during the 2nd quarter worth approximately $9,575,000. Finally, Thompson Davis & CO. Inc. raised its holdings in GeneDx by 99.4% in the fourth quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock valued at $55,000 after buying an additional 9,944 shares during the period. 61.72% of the stock is currently 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.