GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells $823,250.00 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder Opko Health, Inc. sold 25,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $32.93, for a total transaction of $823,250.00. Following the transaction, the insider now owns 3,408,403 shares in the company, valued at $112,238,710.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• 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 stock was sold at an average price of $28.23, for a total transaction of $397,534.86.
• On Monday, July 1st, Opko Health, Inc. sold 50,000 shares of GeneDx stock. The stock was sold at an average price of $26.63, for a total transaction of $1,331,500.00.

GeneDx Price Performance

Shares of NASDAQ WGS traded down $0.79 on Friday, hitting $31.83. The company’s stock had a trading volume of 340,259 shares, compared to its average volume of 390,835. GeneDx Holdings Corp. has a 12-month low of $1.16 and a 12-month high of $35.65. The company has a market capitalization of $831.40 million, a price-to-earnings ratio of -6.56 and a beta of 2.29. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.22 and a quick ratio of 2.99. The stock has a 50 day moving average of $26.02 and a 200-day moving average of $14.30.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Monday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.35. GeneDx had a negative net margin of 60.86% and a negative return on equity of 36.23%. The company had revenue of $62.42 million for the quarter, compared to the consensus estimate of $49.80 million. As a group, research analysts predict that GeneDx Holdings Corp. will post -0.92 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on WGS. Jefferies Financial Group began coverage on shares of GeneDx in a report on Monday, June 3rd. They set a “hold” rating and a $21.00 price objective on the stock. Craig Hallum began coverage on shares of GeneDx in a report on Wednesday, July 10th. They set a “buy” rating and a $43.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on shares of GeneDx from $12.50 to $28.00 and gave the stock a “neutral” rating in a report on Wednesday. TD Cowen boosted their price objective on shares of GeneDx from $14.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, BTIG Research boosted their price objective on shares of GeneDx from $19.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.20.

Institutional Trading of GeneDx

Several institutional investors and hedge funds have recently modified their holdings of the business. Thompson Davis & CO. Inc. lifted its holdings in shares of GeneDx by 20.8% in the first quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock valued at $220,000 after purchasing an additional 4,150 shares in the last quarter. PFG Investments LLC acquired a new position in shares of GeneDx in the first quarter valued at approximately $95,000. Legal Advantage Investments Inc. acquired a new position in shares of GeneDx in the second quarter valued at approximately $518,000. Vanguard Group Inc. raised its position in shares of GeneDx by 4.2% in 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. Finally, Gagnon Advisors LLC raised its position in shares of GeneDx by 41.6% in the first quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock valued at $1,930,000 after buying an additional 62,059 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

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.