Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells 12,994 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder Opko Health, Inc. sold 12,994 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $29.35, for a total transaction of $381,373.90. Following the completion of the sale, the insider now directly owns 2,971,570 shares in the company, valued at $87,215,579.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Opko Health, Inc. also recently made the following trade(s):

• On Thursday, August 8th, Opko Health, Inc. sold 100,000 shares of GeneDx stock. The stock was sold at an average price of $31.82, for a total transaction of $3,182,000.00.
• On Wednesday, July 31st, Opko Health, Inc. sold 88,839 shares of GeneDx stock. The shares were sold at an average price of $33.50, for a total transaction of $2,976,106.50.
• On Monday, July 29th, Opko Health, Inc. sold 50,000 shares of GeneDx stock. The shares were sold at an average price of $33.86, for a total transaction of $1,693,000.00.
• On Friday, July 26th, Opko Health, Inc. sold 60,000 shares of GeneDx stock. The stock was sold at an average price of $33.85, for a total transaction of $2,031,000.00.
• On Wednesday, July 24th, Opko Health, Inc. sold 75,000 shares of GeneDx stock. The stock was sold at an average price of $33.72, for a total transaction of $2,529,000.00.
• On Monday, July 22nd, Opko Health, Inc. sold 50,000 shares of GeneDx stock. The shares were sold at an average price of $32.61, for a total transaction of $1,630,500.00.
• On Friday, July 19th, Opko Health, Inc. sold 25,000 shares of GeneDx stock. The shares were sold at an average price of $32.29, for a total transaction of $807,250.00.
• On Wednesday, July 17th, Opko Health, Inc. sold 25,000 shares of GeneDx stock. The stock was sold at an average price of $32.93, for a total transaction of $823,250.00.
• On Friday, July 5th, Opko Health, Inc. sold 36,118 shares of GeneDx stock. The stock was sold at an average price of $28.24, for a total transaction of $1,019,972.32.
• On Wednesday, July 3rd, Opko Health, Inc. sold 14,082 shares of GeneDx stock. The shares were sold at an average price of $28.23, for a total transaction of $397,534.86.

GeneDx Stock Up 12.8 %

Shares of WGS stock traded up $3.73 on Thursday, hitting $32.83. The stock had a trading volume of 423,833 shares, compared to its average volume of 404,765. The company has a quick ratio of 2.99, a current ratio of 2.38 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average price of $28.91 and a 200 day moving average price of $17.14. The company has a market cap of $857.59 million, a PE ratio of -6.34 and a beta of 2.29. GeneDx Holdings Corp. has a one year low of $1.16 and a one year high of $35.65.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group upped their price target on shares of GeneDx from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. TD Cowen increased their price objective on shares of GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Jefferies Financial Group started coverage on shares of GeneDx in a research report on Monday, June 3rd. They set a “hold” rating and a $21.00 price objective on the stock. Craig Hallum increased their price objective on shares of GeneDx from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, BTIG Research raised their price target on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, GeneDx presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

Hedge Funds Weigh In On GeneDx

A number of large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in GeneDx in the second quarter valued at approximately $34,000. nVerses Capital LLC purchased a new stake in GeneDx in the second quarter valued at approximately $50,000. PFG Investments LLC purchased a new stake in GeneDx in the first quarter valued at approximately $95,000. American Century Companies Inc. boosted its position in GeneDx by 36.1% in the second quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock valued at $451,000 after buying an additional 4,573 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in GeneDx by 8,096.4% in the second quarter. Rhumbline Advisers now owns 18,360 shares of the company’s stock valued at $480,000 after buying an additional 18,136 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

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.