Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells 865,800 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the sale, the insider now owns 2,866,833 shares in the company, valued at approximately $215,012,475. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

GeneDx Price Performance

Shares of WGS traded down $2.58 during mid-day trading on Monday, reaching $75.16. The company had a trading volume of 672,079 shares, compared to its average volume of 441,410. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -25.33 and a beta of 2.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.22 and a current ratio of 2.40. The company’s 50 day simple moving average is $47.44 and its 200 day simple moving average is $33.39. GeneDx Holdings Corp. has a 1-year low of $1.16 and a 1-year high of $89.11.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data 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 business had revenue of $76.90 million for 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%. GeneDx’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.82) EPS. Analysts expect that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Institutional Investors Weigh In On GeneDx

Several hedge funds have recently added to or reduced their stakes in the business. Chartwell Investment Partners LLC bought a new position in GeneDx during the 3rd quarter worth $1,722,000. Principal Financial Group Inc. bought a new stake in shares of GeneDx in the 3rd quarter valued at $604,000. Palumbo Wealth Management LLC acquired a new position in GeneDx in the third quarter valued at $287,000. Precision Wealth Strategies LLC bought a new stake in GeneDx during the third quarter valued at $364,000. Finally, Raymond James & Associates acquired a new stake in GeneDx during the 3rd quarter worth about $8,090,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WGS has been the topic of several analyst reports. BTIG Research boosted their price target 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. Craig Hallum upped 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. The Goldman Sachs Group raised their price target on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price objective on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, TD Cowen raised their target price on shares of GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, GeneDx currently has a consensus rating of “Moderate Buy” and an average 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.