GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells $1,420,651.02 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $69.78, for a total transaction of $1,420,651.02. Following the sale, the insider now directly owns 2,846,474 shares of the company’s stock, valued at approximately $198,626,955.72. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, November 18th, School Of Medicine At Mo Icahn sold 126,782 shares of GeneDx stock. The stock was sold at an average price of $70.78, for a total transaction of $8,973,629.96.
• 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 transaction of $64,935,000.00.

GeneDx Stock Up 3.9 %

GeneDx stock opened at $72.07 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The stock has a market cap of $1.98 billion, a PE ratio of -23.17 and a beta of 2.11. GeneDx Holdings Corp. has a fifty-two week low of $1.32 and a fifty-two week high of $89.11. The firm’s 50-day simple moving average is $58.79 and its 200 day simple moving average is $39.14.

GeneDx (NASDAQ:WGS) last issued its quarterly 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. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The company had revenue of $76.90 million during the quarter, compared to the consensus estimate of $64.98 million. During the same period last year, the business posted ($0.82) earnings per share. GeneDx’s revenue was up 44.3% on a year-over-year basis. Research analysts predict that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On GeneDx

Hedge funds have recently made changes to their positions in the business. Oracle Investment Management Inc. lifted its stake in GeneDx by 531.7% in the first quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock valued at $10,286,000 after purchasing an additional 948,253 shares during the last quarter. Vanguard Group Inc. raised its stake 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 period. Driehaus Capital Management LLC purchased a new position in shares of GeneDx during the 2nd quarter valued at $11,335,000. Fred Alger Management LLC bought a new position in shares of GeneDx during the 3rd quarter worth $16,731,000. Finally, Geode Capital Management LLC increased its holdings in GeneDx by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 377,631 shares of the company’s stock worth $16,030,000 after acquiring an additional 30,379 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. TD Cowen upped their price target on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Craig Hallum increased 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. BTIG Research boosted their price target on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company lifted their price objective on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their target price on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $59.33.

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.