Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) CFO Sells 35,506 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CFO Kevin Feeley sold 35,506 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $93.82, for a total transaction of $3,331,172.92. Following the completion of the sale, the chief financial officer now owns 2,472 shares of the company’s stock, valued at $231,923.04. This trade represents a 93.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Kevin Feeley also recently made the following trade(s):

• On Thursday, January 2nd, Kevin Feeley sold 1,430 shares of GeneDx stock. The shares were sold at an average price of $76.04, for a total transaction of $108,737.20.
• On Monday, December 16th, Kevin Feeley sold 3,728 shares of GeneDx stock. The stock was sold at an average price of $76.75, for a total value of $286,124.00.
• On Monday, December 9th, Kevin Feeley sold 1,137 shares of GeneDx stock. The shares were sold at an average price of $76.37, for a total value of $86,832.69.
• On Monday, December 2nd, Kevin Feeley sold 263 shares of GeneDx stock. The stock was sold at an average price of $78.39, for a total value of $20,616.57.
• On Thursday, November 21st, Kevin Feeley sold 12,019 shares of GeneDx stock. The shares were sold at an average price of $73.76, for a total value of $886,521.44.
• On Tuesday, October 29th, Kevin Feeley sold 274 shares of GeneDx stock. The stock was sold at an average price of $66.60, for a total transaction of $18,248.40.

GeneDx Price Performance

WGS stock opened at $89.38 on Monday. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -28.74 and a beta of 2.02. 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 Holdings Corp. has a 52-week low of $2.85 and a 52-week high of $98.87. The stock’s fifty day simple moving average is $78.01 and its 200-day simple moving average is $53.57.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $76.90 million during the quarter, compared to the consensus estimate of $64.98 million. During the same quarter in the prior year, the company posted ($0.82) EPS. The company’s quarterly revenue was up 44.3% compared to the same quarter last year. Equities research analysts expect that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WGS. The Goldman Sachs Group lifted 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. TD Cowen upped their target price on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Wells Fargo & Company increased 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, Craig Hallum boosted their price target on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.67.

GeneDx Company Profile

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.