Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) CEO Sells 3,661 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CEO Katherine Stueland sold 3,661 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $76.37, for a total value of $279,590.57. Following the transaction, the chief executive officer now owns 62,897 shares of the company’s stock, valued at $4,803,443.89. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Katherine Stueland also recently made the following trade(s):

• On Monday, November 18th, Katherine Stueland sold 22,307 shares of GeneDx stock. The shares were sold at an average price of $70.34, for a total transaction of $1,569,074.38.
• On Friday, November 15th, Katherine Stueland sold 23,108 shares of GeneDx stock. The stock was sold at an average price of $70.48, for a total transaction of $1,628,651.84.
• On Tuesday, October 29th, Katherine Stueland sold 2,154 shares of GeneDx stock. The stock was sold at an average price of $66.60, for a total transaction of $143,456.40.

GeneDx Price Performance

WGS stock opened at $75.43 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The company’s 50-day moving average is $70.21 and its 200-day moving average is $45.36. The stock has a market capitalization of $2.07 billion, a PE ratio of -24.25 and a beta of 2.03. GeneDx Holdings Corp. has a 1 year low of $1.76 and a 1 year high of $89.11.

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

Analysts Set New Price Targets

A number of analysts have commented on the stock. The Goldman Sachs Group upped their price target on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their target price on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Craig Hallum lifted their target price on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.33.

Institutional Trading of GeneDx

Several hedge funds have recently bought and sold shares of WGS. Vanguard Group Inc. grew its holdings in shares of GeneDx by 4.2% during the first quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after buying an additional 28,678 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in GeneDx during the 2nd quarter valued at about $11,335,000. Fred Alger Management LLC bought a new stake in GeneDx during the 3rd quarter worth approximately $16,731,000. Geode Capital Management LLC raised its stake in shares of GeneDx by 8.7% in the third quarter. Geode Capital Management LLC now owns 377,631 shares of the company’s stock worth $16,030,000 after purchasing an additional 30,379 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of GeneDx in the second quarter valued at approximately $9,575,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.