Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells $1,420,651.02 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $69.78, for a total value of $1,420,651.02. Following the completion of the sale, the insider now owns 2,846,474 shares in the company, valued at $198,626,955.72. The trade was a 0.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

School Of Medicine At Mo Icahn also recently made the following trade(s):

• On Monday, November 18th, School Of Medicine At Mo Icahn sold 126,782 shares of GeneDx stock. The stock was sold at an average price of $70.78, for a total transaction of $8,973,629.96.
• On Thursday, October 31st, School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00.

GeneDx Stock Up 3.9 %

GeneDx stock opened at $72.07 on Friday. The company’s 50-day moving average price is $58.79 and its two-hundred day moving average price is $39.14. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The stock has a market cap of $1.98 billion, a P/E ratio of -23.17 and a beta of 2.11. GeneDx Holdings Corp. has a twelve month low of $1.32 and a twelve month high of $89.11.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The business had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $64.98 million. During the same period last year, the firm posted ($0.82) EPS. The firm’s revenue for the quarter was up 44.3% compared to the same quarter last year. As a group, analysts expect that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WGS shares. The Goldman Sachs Group raised their price objective on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Craig Hallum boosted their price target on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. BTIG Research boosted 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, TD Cowen boosted their price objective 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.33.

Institutional Investors Weigh In On GeneDx

A number of institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC bought a new position in GeneDx during the 2nd quarter worth $34,000. nVerses Capital LLC acquired a new stake in shares of GeneDx during the 2nd quarter worth $50,000. CWM LLC bought a new position in shares of GeneDx in the third quarter worth $89,000. SG Americas Securities LLC acquired a new position in GeneDx in the third quarter valued at about $198,000. Finally, Point72 DIFC Ltd bought a new stake in GeneDx during the third quarter worth about $220,000. Institutional investors 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.