Investors Purchase Large Volume of GeneDx Put Options (NASDAQ:WGS)

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Traders purchased 2,566 put options on the company. This represents an increase of 220% compared to the average daily volume of 802 put options.

GeneDx Price Performance

NASDAQ WGS traded down $2.63 on Friday, reaching $59.54. The company's stock had a trading volume of 1,276,246 shares, compared to its average volume of 1,019,063. GeneDx has a 52 week low of $3.68 and a 52 week high of $98.87. 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 firm has a market cap of $1.64 billion, a PE ratio of -19.14 and a beta of 2.01. The business has a 50-day moving average price of $76.94 and a 200 day moving average price of $59.32.

Insider Buying and Selling at GeneDx

In other news, CEO Katherine Stueland sold 1,657 shares of the company's stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $78.48, for a total transaction of $130,041.36. Following the completion of the sale, the chief executive officer now owns 3,937 shares in the company, valued at approximately $308,975.76. This represents a 29.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Feeley sold 35,506 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $93.82, for a total value of $3,331,172.92. Following the sale, the chief financial officer now directly owns 2,472 shares of the company's stock, valued at $231,923.04. The trade was a 93.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 363,669 shares of company stock worth $28,061,081 over the last ninety days. 27.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GeneDx

A number of institutional investors have recently added to or reduced their stakes in WGS. Millennium Management LLC raised its position in GeneDx by 193.5% in the 2nd quarter. Millennium Management LLC now owns 311,401 shares of the company's stock valued at $8,140,000 after purchasing an additional 205,318 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of GeneDx in the second quarter valued at about $290,000. Algert Global LLC acquired a new position in GeneDx during the 2nd quarter valued at about $356,000. SG Americas Securities LLC acquired a new stake in shares of GeneDx during the 3rd quarter worth approximately $198,000. Finally, CWM LLC acquired a new stake in shares of GeneDx during the 3rd quarter worth approximately $89,000. 61.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. TD Cowen raised their price objective on shares of GeneDx from $75.00 to $118.00 and gave the stock a "buy" rating in a research note on Tuesday, January 7th. The Goldman Sachs Group boosted their price objective on shares of GeneDx from $54.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their target price on shares of GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Finally, Craig Hallum boosted their price target on GeneDx from $70.00 to $95.00 and gave the company a "buy" rating in a research note 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $70.67.

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.