Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) CEO Sells 18,006 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CEO Katherine Stueland sold 18,006 shares of GeneDx stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $78.18, for a total transaction of $1,407,709.08. Following the transaction, the chief executive officer now directly owns 53,140 shares in the company, valued at $4,154,485.20. This represents a 25.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, December 16th, Katherine Stueland sold 10,501 shares of GeneDx stock. The shares were sold at an average price of $76.75, for a total transaction of $805,951.75.
• On Monday, December 9th, Katherine Stueland sold 3,661 shares of GeneDx stock. The shares were sold at an average price of $76.37, for a total transaction of $279,590.57.
• On Monday, November 18th, Katherine Stueland sold 22,307 shares of GeneDx stock. The shares were sold at an average price of $70.34, for a total transaction of $1,569,074.38.
• On Friday, November 15th, Katherine Stueland sold 23,108 shares of GeneDx stock. The stock was sold at an average price of $70.48, for a total transaction 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 transaction of $143,456.40.

GeneDx Trading Up 8.3 %

Shares of WGS opened at $97.04 on Wednesday. GeneDx Holdings Corp. has a 12-month low of $2.80 and a 12-month high of $98.87. The firm has a market capitalization of $2.67 billion, a P/E ratio of -31.20 and a beta of 2.02. The firm has a 50-day moving average price of $77.21 and a 200 day moving average price of $52.15. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.25. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The business had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $64.98 million. During the same quarter in the prior year, the company earned ($0.82) earnings per share. The business’s quarterly revenue was up 44.3% on a year-over-year basis. Sell-side analysts forecast that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Institutional Investors Weigh In On GeneDx

A number of large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new stake in GeneDx in the 2nd quarter worth about $991,000. Rhumbline Advisers raised its position in GeneDx by 8,096.4% in the second quarter. Rhumbline Advisers now owns 18,360 shares of the company’s stock valued at $480,000 after purchasing an additional 18,136 shares during the period. Acadian Asset Management LLC acquired a new position in GeneDx during the 2nd quarter worth approximately $34,000. American Century Companies Inc. boosted its stake in shares of GeneDx by 36.1% in the second quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock valued at $451,000 after purchasing an additional 4,573 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in GeneDx in the 2nd quarter valued at about $2,362,000. 61.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WGS has been the subject of several research analyst reports. Craig Hallum raised their price target on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. TD Cowen raised their price objective on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group lifted their price target on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price target on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.67.

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.