GeneDx Holdings Corp. (NASDAQ:WGS) Director Jason Ryan Sells 31,510 Shares

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 shares were sold at an average price of $71.28, for a total transaction of $2,246,032.80. Following the completion of the sale, the director now directly owns 15,490 shares of the company’s stock, valued at $1,104,127.20. This represents a 67.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

GeneDx Stock Performance

Shares of WGS traded up $2.69 during trading hours on Thursday, reaching $72.07. 675,200 shares of the company’s stock traded hands, compared to its average volume of 451,997. The business’s fifty day simple moving average is $58.79 and its two-hundred day simple moving average is $39.14. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -23.17 and a beta of 2.11. GeneDx Holdings Corp. has a twelve month low of $1.32 and a twelve month high of $89.11. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share 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 business had revenue of $76.90 million during the quarter, compared to analyst estimates of $64.98 million. During the same quarter last year, the company posted ($0.82) EPS. GeneDx’s revenue for the quarter was up 44.3% on a year-over-year basis. Analysts predict that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on WGS. 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 report on Wednesday, July 31st. The Goldman Sachs Group raised their target price on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Craig Hallum lifted their price objective on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their target price on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, BTIG Research boosted 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.33.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WGS. Renaissance Technologies LLC bought a new position in GeneDx in the 2nd quarter worth approximately $2,362,000. Lisanti Capital Growth LLC acquired a new stake in GeneDx in the 3rd quarter valued at $1,554,000. Millennium Management LLC boosted its stake in GeneDx by 193.5% in the 2nd quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock valued at $8,140,000 after buying an additional 205,318 shares in the last quarter. Chartwell Investment Partners LLC acquired a new stake in GeneDx in the 3rd quarter valued at $1,722,000. Finally, Algert Global LLC acquired a new position in GeneDx in the second quarter worth $356,000. 61.72% of the stock is owned by institutional investors.

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.