GeneDx (NASDAQ:WGS) CEO Sells $1,025,002.61 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CEO Katherine Stueland sold 10,501 shares of GeneDx stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $97.61, for a total value of $1,025,002.61. Following the completion of the sale, the chief executive officer owned 115,476 shares of the company’s stock, valued at $11,271,612.36. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, September 9th, Katherine Stueland sold 3,692 shares of GeneDx stock. The shares were sold at an average price of $84.22, for a total transaction of $310,940.24.

GeneDx Stock Performance

Shares of WGS traded down $3.85 during mid-day trading on Friday, hitting $101.10. 682,042 shares of the company traded hands, compared to its average volume of 932,933. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.06 and a current ratio of 3.30. The stock has a 50-day moving average price of $77.02 and a two-hundred day moving average price of $67.10. GeneDx Holdings Corp. has a 1 year low of $32.21 and a 1 year high of $170.87. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of -27.77 and a beta of 1.99.

GeneDx (NASDAQ:WGS) last announced its earnings results on Monday, August 3rd. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.20. The business had revenue of $114.44 million during the quarter, compared to analyst estimates of $111.01 million. GeneDx had a negative net margin of 23.41% and a positive return on equity of 4.12%. During the same period in the previous year, the business earned $0.36 EPS. Equities analysts anticipate that GeneDx Holdings Corp. will post -0.41 earnings per share for the current year.

Analyst Ratings Changes

WGS has been the subject of several recent analyst reports. Wall Street Zen raised shares of GeneDx from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Guggenheim restated a “buy” rating and issued a $74.00 price target (up from $70.00) on shares of GeneDx in a research note on Monday, June 29th. TD Cowen reaffirmed a “buy” rating on shares of GeneDx in a report on Wednesday, July 15th. Weiss Ratings upgraded shares of GeneDx from a “sell (e+)” rating to a “sell (d)” rating in a research report on Tuesday, August 4th. Finally, Canaccord Genuity Group boosted their target price on shares of GeneDx from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, GeneDx has a consensus rating of “Moderate Buy” and an average price target of $89.57.

Institutional Trading of GeneDx

Hedge funds have recently modified their holdings of the company. Main Management ETF Advisors LLC grew its stake in GeneDx by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 15,660 shares of the company’s stock worth $2,037,000 after acquiring an additional 160 shares in the last quarter. Strs Ohio boosted its holdings in shares of GeneDx by 8.7% in the first quarter. Strs Ohio now owns 2,500 shares of the company’s stock valued at $161,000 after purchasing an additional 200 shares during the period. Ramirez Asset Management Inc. bought a new position in GeneDx in the fourth quarter worth approximately $33,000. ProShare Advisors LLC grew its stake in GeneDx by 8.0% in the fourth quarter. ProShare Advisors LLC now owns 3,467 shares of the company’s stock worth $451,000 after purchasing an additional 257 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in GeneDx by 12.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 3,300 shares of the company’s stock worth $212,000 after purchasing an additional 378 shares during the period. 61.72% of the stock is owned by hedge funds and other institutional investors.

About GeneDx

GeneDx Holdings Corp., doing business as GeneDx, is a healthcare company focused on genetic testing and genomic diagnostics. The company provides testing designed to help healthcare professionals diagnose rare and inherited conditions, guide clinical management, and support research into genetic disease.

Its offerings include whole exome and whole genome sequencing, targeted genetic tests, chromosomal microarray analysis, and other tests used to identify disease-causing genetic variants.