School Of Medicine At Mo Icahn Sells 865,800 Shares of GeneDx Holdings Corp. (NASDAQ:WGS) Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the transaction, the insider now directly owns 2,866,833 shares in the company, valued at $215,012,475. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

GeneDx Trading Down 0.4 %

NASDAQ WGS opened at $74.86 on Wednesday. GeneDx Holdings Corp. has a one year low of $1.16 and a one year high of $89.11. The company has a 50-day simple moving average of $48.23 and a 200-day simple moving average of $34.03. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The firm has a market capitalization of $2.02 billion, a PE ratio of -24.37 and a beta of 2.11.

GeneDx (NASDAQ:WGS) last posted its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.25. The firm had revenue of $76.90 million during the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. GeneDx’s revenue was up 44.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.82) EPS. On average, equities analysts forecast that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on WGS. TD Cowen increased their price target on shares of GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. 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. Wells Fargo & Company lifted their price target on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Craig Hallum lifted their price target 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. Finally, The Goldman Sachs Group lifted their price target on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.33.

Institutional Investors Weigh In On GeneDx

A number of large investors have recently made changes to their positions in WGS. Acadian Asset Management LLC bought a new stake in GeneDx in the second quarter worth approximately $34,000. nVerses Capital LLC acquired a new position in shares of GeneDx in the 2nd quarter valued at $50,000. CWM LLC acquired a new position in shares of GeneDx in the 3rd quarter valued at $89,000. SG Americas Securities LLC acquired a new stake in shares of GeneDx during the 3rd quarter worth about $198,000. Finally, Palumbo Wealth Management LLC acquired a new stake in shares of GeneDx during the 3rd quarter worth about $287,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.