GeneDx (NASDAQ:WGS) Shares Gap Down – Here’s Why

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) gapped down before the market opened on Monday . The stock had previously closed at $135.38, but opened at $130.00. GeneDx shares last traded at $120.0070, with a volume of 201,473 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of GeneDx from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Guggenheim restated a “buy” rating and issued a $170.00 target price (up from $115.00) on shares of GeneDx in a research note on Wednesday, October 29th. BTIG Research increased their price target on GeneDx from $165.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Wells Fargo & Company set a $155.00 price target on GeneDx and gave the stock an “equal weight” rating in a report on Monday, December 15th. Finally, Canaccord Genuity Group upped their price objective on GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.13.

GeneDx Stock Performance

The company has a quick ratio of 2.59, a current ratio of 2.71 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 1,324.89 and a beta of 2.01. The company has a 50-day moving average price of $143.48 and a 200-day moving average price of $123.19.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.21. The company had revenue of $116.74 million during the quarter, compared to analyst estimates of $104.33 million. GeneDx had a return on equity of 20.22% and a net margin of 0.52%. As a group, equities research analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Activity at GeneDx

In related news, CEO Katherine Stueland sold 10,857 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $143.89, for a total transaction of $1,562,213.73. Following the transaction, the chief executive officer owned 14,237 shares in the company, valued at $2,048,561.93. This trade represents a 43.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Feeley sold 3,855 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $143.87, for a total value of $554,618.85. Following the completion of the sale, the chief financial officer owned 8,731 shares of the company’s stock, valued at $1,256,128.97. This trade represents a 30.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 60,163 shares of company stock worth $9,339,792 in the last 90 days. Corporate insiders own 29.60% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. raised its holdings in GeneDx by 150.9% during the second quarter. Harbor Capital Advisors Inc. now owns 39,979 shares of the company’s stock valued at $3,690,000 after buying an additional 24,042 shares in the last quarter. Rhumbline Advisers grew its stake in shares of GeneDx by 42.7% in the second quarter. Rhumbline Advisers now owns 27,610 shares of the company’s stock worth $2,549,000 after acquiring an additional 8,258 shares during the last quarter. MRA Advisory Group bought a new position in shares of GeneDx during the 2nd quarter worth about $298,000. Perigon Wealth Management LLC bought a new position in GeneDx during the second quarter valued at about $479,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of GeneDx in the second quarter valued at $589,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.