GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells $8,973,629.96 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of GeneDx stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $70.78, for a total transaction of $8,973,629.96. Following the sale, the insider now owns 2,719,692 shares in the company, valued at approximately $192,499,799.76. This represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

School Of Medicine At Mo Icahn also recently made the following trade(s):

• On Friday, November 15th, School Of Medicine At Mo Icahn sold 20,359 shares of GeneDx stock. The stock was sold at an average price of $69.78, for a total transaction of $1,420,651.02.
• On Thursday, October 31st, School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock. The shares were sold at an average price of $75.00, for a total value of $64,935,000.00.

GeneDx Trading Down 0.1 %

NASDAQ:WGS opened at $71.04 on Wednesday. GeneDx Holdings Corp. has a 12 month low of $1.29 and a 12 month high of $89.11. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -22.84 and a beta of 2.11. The firm has a fifty day simple moving average of $57.43 and a two-hundred day simple moving average of $38.69.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.25. The business had revenue of $76.90 million during the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The firm’s revenue was up 44.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.82) EPS. Analysts expect that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WGS has been the topic of a number of analyst reports. Craig Hallum upped their price target on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BTIG Research increased their target price on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their price target 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. The Goldman Sachs Group increased their price objective on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, TD Cowen boosted their target price on shares of GeneDx from $46.00 to $50.00 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.33.

Institutional Investors Weigh In On GeneDx

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new position in GeneDx during the 2nd quarter valued at about $34,000. nVerses Capital LLC bought a new position in shares of GeneDx in the second quarter valued at approximately $50,000. CWM LLC purchased a new position in shares of GeneDx during the third quarter valued at approximately $89,000. SG Americas Securities LLC bought a new stake in GeneDx during the third quarter worth $198,000. Finally, Point72 DIFC Ltd bought a new stake in GeneDx during the third quarter worth $220,000. 61.72% of the stock is owned by 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.