Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) Director Sells 31,510 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Jason Ryan sold 31,510 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $71.28, for a total transaction of $2,246,032.80. Following the completion of the transaction, the director now owns 15,490 shares of the company’s stock, valued at approximately $1,104,127.20. This trade represents a 67.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

GeneDx Trading Up 9.2 %

Shares of WGS stock opened at $78.71 on Friday. GeneDx Holdings Corp. has a fifty-two week low of $1.41 and a fifty-two week high of $89.11. 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’s fifty day moving average is $59.61 and its two-hundred day moving average is $39.69. The firm has a market capitalization of $2.16 billion, a P/E ratio of -25.31 and a beta of 2.11.

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

Institutional Investors Weigh In On GeneDx

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in GeneDx in the 2nd quarter valued at $34,000. nVerses Capital LLC acquired a new position in shares of GeneDx during the 2nd quarter valued at about $50,000. CWM LLC acquired a new stake in GeneDx during the third quarter worth about $89,000. Verition Fund Management LLC raised its stake in GeneDx by 12.9% during the third quarter. Verition Fund Management LLC now owns 25,845 shares of the company’s stock worth $1,097,000 after purchasing an additional 2,945 shares during the period. Finally, American Century Companies Inc. boosted its holdings in GeneDx by 36.1% in the 2nd quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock valued at $451,000 after purchasing an additional 4,573 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WGS shares. Wells Fargo & Company upped their price target on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. TD Cowen upped their target price 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 lifted their price target on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. BTIG Research upped their price objective on shares of GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group increased their price objective on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, GeneDx presently has an average rating of “Moderate Buy” and an average target price of $59.33.

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.