School Of Medicine At Mo Icahn Sells 126,782 Shares of GeneDx Holdings Corp. (NASDAQ:WGS) Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $70.78, for a total value of $8,973,629.96. Following the transaction, the insider now owns 2,719,692 shares of the company’s stock, valued at approximately $192,499,799.76. The trade was a 4.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

School Of Medicine At Mo Icahn also recently made the following trade(s):

• On Friday, November 15th, School Of Medicine At Mo Icahn sold 20,359 shares of GeneDx stock. The shares were sold at an average price of $69.78, for a total value of $1,420,651.02.
• On Thursday, October 31st, School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock. The shares were sold at an average price of $75.00, for a total value of $64,935,000.00.

GeneDx Stock Down 2.3 %

Shares of NASDAQ WGS opened at $69.38 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The company has a market cap of $1.91 billion, a P/E ratio of -22.31 and a beta of 2.11. GeneDx Holdings Corp. has a 1 year low of $1.29 and a 1 year high of $89.11. The firm has a 50-day simple moving average of $58.11 and a two-hundred day simple moving average of $38.91.

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

Wall Street Analyst Weigh In

Several research firms recently commented on WGS. The Goldman Sachs Group lifted their price target on 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 target on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price target on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. TD Cowen lifted their price target on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, BTIG Research lifted their price target on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.33.

Institutional Trading of GeneDx

Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new stake in shares of GeneDx during the second quarter valued at approximately $2,362,000. Lisanti Capital Growth LLC bought a new position in GeneDx in the third quarter worth approximately $1,554,000. Millennium Management LLC raised its stake in GeneDx by 193.5% in the second quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock worth $8,140,000 after buying an additional 205,318 shares in the last quarter. Chartwell Investment Partners LLC bought a new position in GeneDx in the third quarter worth approximately $1,722,000. Finally, Algert Global LLC bought a new position in GeneDx in the second quarter worth approximately $356,000. Institutional investors own 61.72% of the company’s stock.

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.