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

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) CEO Katherine Stueland sold 23,108 shares of the firm's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $70.48, for a total transaction of $1,628,651.84. Following the completion of the transaction, the chief executive officer now directly owns 82,318 shares in the company, 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 the SEC website.

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 transaction 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 transaction 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 transaction of $121,287.87.

GeneDx Stock Down 2.2 %

Shares of NASDAQ WGS traded down $1.55 during midday trading on Wednesday, reaching $69.49. The company's stock had a trading volume of 163,977 shares, compared to its average volume of 449,691. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. GeneDx Holdings Corp. has a fifty-two week low of $1.29 and a fifty-two week high of $89.11. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -22.84 and a beta of 2.11. The stock has a 50 day simple moving average of $57.43 and a 200-day simple moving average of $38.69.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $64.98 million. During the same period last year, the company earned ($0.82) earnings per share. The firm's revenue was up 44.3% compared to the same quarter last year. Equities research analysts predict that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On GeneDx

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Oracle Investment Management Inc. grew its stake in shares of GeneDx by 531.7% in the first 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. Vanguard Group Inc. grew its stake in shares of GeneDx by 4.2% in the first quarter. Vanguard Group Inc. now owns 707,612 shares of the company's stock valued at $6,460,000 after buying an additional 28,678 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of GeneDx in the second quarter valued at $11,335,000. Fred Alger Management LLC bought a new position in GeneDx during the third quarter worth $16,731,000. Finally, Geode Capital Management LLC increased its holdings in shares of GeneDx by 8.7% in the third quarter. Geode Capital Management LLC now owns 377,631 shares of the company's stock valued at $16,030,000 after purchasing an additional 30,379 shares during the last quarter. 61.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on WGS shares. TD Cowen increased their price target on shares of GeneDx from $46.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised their target price on shares of GeneDx from $34.00 to $75.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their target price on shares of GeneDx from $54.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. BTIG Research raised their target price on shares of GeneDx from $35.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Finally, Craig Hallum raised their target price on shares of 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $59.33.

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.