GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Opko Health, Inc. Sells 50,000 Shares

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder Opko Health, Inc. sold 50,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $26.63, for a total value of $1,331,500.00. Following the completion of the transaction, the insider now owns 3,508,603 shares of the company’s stock, valued at $93,434,097.89. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 shares were sold at an average price of $28.23, for a total transaction of $397,534.86.

GeneDx Stock Performance

WGS opened at $28.00 on Thursday. The company has a current ratio of 3.22, a quick ratio of 2.99 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $22.88 and a two-hundred day simple moving average of $12.17. GeneDx Holdings Corp. has a 12-month low of $1.16 and a 12-month high of $31.35.

GeneDx (NASDAQ:WGS) last released its earnings results on Monday, April 29th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.35. GeneDx had a negative net margin of 60.86% and a negative return on equity of 36.23%. The firm had revenue of $62.42 million for the quarter, compared to the consensus estimate of $49.80 million. Equities research analysts expect that GeneDx Holdings Corp. will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On GeneDx

A number of institutional investors and hedge funds have recently made changes to their positions in WGS. Oracle Investment Management Inc. increased its position in 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 buying an additional 948,253 shares in the last quarter. Gagnon Securities LLC raised its position in shares of GeneDx by 59.3% in the 1st quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock worth $5,079,000 after purchasing an additional 207,027 shares during the last quarter. Gagnon Advisors LLC boosted its stake in GeneDx by 41.6% in the 1st quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock worth $1,930,000 after purchasing an additional 62,059 shares in the last quarter. Vanguard Group Inc. increased its stake in GeneDx by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after purchasing an additional 28,678 shares in the last quarter. Finally, Thompson Davis & CO. Inc. raised its holdings in GeneDx by 20.8% in the first quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock worth $220,000 after buying an additional 4,150 shares during the last quarter. Institutional investors own 61.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of GeneDx to $11.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Jefferies Financial Group started coverage on GeneDx in a report on Monday, June 3rd. They set a “hold” rating and a $21.00 target price for the company. BTIG Research lifted their price target on GeneDx from $19.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, TD Cowen lifted their target price on shares of GeneDx from $14.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th.

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.