Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) CEO Sells $1,569,074.38 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CEO Katherine Stueland sold 22,307 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $70.34, for a total transaction of $1,569,074.38. Following the completion of the transaction, the chief executive officer now owns 60,011 shares of the company’s stock, valued at $4,221,173.74. This represents a 27.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, November 15th, Katherine Stueland sold 23,108 shares of GeneDx stock. The shares were sold at an average price of $70.48, for a total value of $1,628,651.84.
• On Tuesday, October 29th, Katherine Stueland sold 2,154 shares of GeneDx stock. The stock was sold at an average price of $66.60, for a total value of $143,456.40.
• On Monday, September 9th, Katherine Stueland sold 3,639 shares of GeneDx stock. The shares were sold at an average price of $33.33, for a total value of $121,287.87.

GeneDx Price Performance

Shares of NASDAQ:WGS opened at $78.71 on Friday. GeneDx Holdings Corp. has a 52 week low of $1.41 and a 52 week high of $89.11. The company has a 50-day moving average price of $59.61 and a 200 day moving average price of $39.55. The company has a market cap of $2.16 billion, a P/E ratio of -25.31 and a beta of 2.11. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last posted 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. The firm had revenue of $76.90 million for the quarter, compared to the consensus estimate of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The company’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.82) earnings per share. Research analysts predict that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On GeneDx

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

Wall Street Analysts Forecast Growth

WGS has been the topic of a number of recent research reports. BTIG Research lifted their target price on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. The Goldman Sachs Group upped their target price on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Craig Hallum increased their target price on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their price target on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, TD Cowen increased their price objective on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.