Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells 50,000 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder Opko Health, Inc. sold 50,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $26.63, for a total value of $1,331,500.00. Following the completion of the sale, the insider now owns 3,508,603 shares in the company, valued at $93,434,097.89. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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.

GeneDx Stock Up 0.9 %

NASDAQ WGS traded up $0.24 during mid-day trading on Wednesday, reaching $28.00. The stock had a trading volume of 231,735 shares, compared to its average volume of 389,039. The company has a fifty day moving average price of $22.56 and a 200 day moving average price of $12.06. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.22 and a quick ratio of 2.99. GeneDx Holdings Corp. has a 1 year low of $1.16 and a 1 year high of $31.35. The stock has a market cap of $731.42 million, a PE ratio of -5.36 and a beta of 2.29.

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 analysts’ consensus estimates of ($0.68) by $0.35. GeneDx had a negative return on equity of 36.23% and a negative net margin of 60.86%. The firm had revenue of $62.42 million for the quarter, compared to the consensus estimate of $49.80 million. On average, research analysts expect that GeneDx Holdings Corp. will post -0.92 earnings per share for the current year.

Institutional Investors Weigh In On GeneDx

Several hedge funds and other institutional investors have recently modified their holdings of WGS. Oracle Investment Management Inc. raised its position in shares of GeneDx by 531.7% during the 1st 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 period. Vanguard Group Inc. boosted its stake in GeneDx by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock worth $6,460,000 after purchasing an additional 28,678 shares during the period. Gagnon Securities LLC raised its position in shares of GeneDx by 59.3% during the first quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock valued at $5,079,000 after buying an additional 207,027 shares during the last quarter. Gagnon Advisors LLC raised its position in shares of GeneDx by 41.6% during 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. Finally, Decheng Capital LLC purchased a new position in shares of GeneDx in the fourth quarter worth $285,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on WGS shares. TD Cowen raised 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. The Goldman Sachs Group raised their target price on GeneDx to $11.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. BTIG Research upped their price target on GeneDx from $19.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, Jefferies Financial Group initiated coverage on shares of GeneDx in a report on Monday, June 3rd. They issued a “hold” rating and a $21.00 price target on the 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.