GeneDx Holdings Corp. (NASDAQ:WGS) CEO Sells $1,628,651.84 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CEO Katherine Stueland sold 23,108 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $70.48, for a total value of $1,628,651.84. Following the sale, the chief executive officer now owns 82,318 shares of the company’s stock, valued at $5,801,772.64. This trade represents a 21.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 value of $1,569,074.38.
• On Tuesday, October 29th, Katherine Stueland sold 2,154 shares of GeneDx stock. The shares were sold at an average price of $66.60, for a total value of $143,456.40.
• On Monday, September 9th, Katherine Stueland sold 3,639 shares of GeneDx stock. The shares were sold at an average price of $33.33, for a total value of $121,287.87.

GeneDx Trading Down 0.1 %

NASDAQ WGS opened at $71.04 on Wednesday. GeneDx Holdings Corp. has a 1-year low of $1.29 and a 1-year high of $89.11. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $1.95 billion, a PE ratio of -22.84 and a beta of 2.11. The firm’s fifty day simple moving average is $57.43 and its 200-day simple moving average is $38.69.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, topping 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 business had revenue of $76.90 million for the quarter, compared to the consensus estimate of $64.98 million. During the same period in the prior year, the business posted ($0.82) earnings per share. GeneDx’s revenue for the quarter was up 44.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. BTIG Research increased their target price on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. TD Cowen increased their target price on GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Craig Hallum increased their target price on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group increased their target price on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.33.

Hedge Funds Weigh In On GeneDx

Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new position in GeneDx during the second quarter valued at about $2,362,000. Lisanti Capital Growth LLC bought a new position in shares of GeneDx in the third quarter worth about $1,554,000. Millennium Management LLC increased its stake in shares of 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 purchasing an additional 205,318 shares during the period. Chartwell Investment Partners LLC bought a new position in shares of GeneDx in the third quarter worth about $1,722,000. Finally, Algert Global LLC bought a new position in shares of GeneDx in the second quarter worth about $356,000. 61.72% of the stock is currently owned by institutional investors.

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.