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

GeneDx Holdings Corp. (NASDAQ:WGS) was the target of some unusual options trading on Wednesday. Stock traders purchased 2,566 put options on the stock. This represents an increase of 220% compared to the average daily volume of 802 put options.

Insider Activity at GeneDx

In related news, CEO Katherine Stueland sold 23,108 shares of GeneDx stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 82,318 shares of the company’s stock, valued at approximately $5,801,772.64. The trade was a 21.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $70.78, for a total value of $8,973,629.96. Following the sale, the insider now owns 2,719,692 shares in the company, valued at approximately $192,499,799.76. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 363,669 shares of company stock worth $28,061,081 in the last ninety days. 27.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. MCF Advisors LLC increased its position in GeneDx by 107.7% in the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after purchasing an additional 182 shares during the last quarter. Global Retirement Partners LLC bought a new stake in GeneDx during the 4th quarter valued at $28,000. CWM LLC bought a new stake in GeneDx during the 3rd quarter valued at $89,000. SG Americas Securities LLC acquired a new stake in shares of GeneDx in the 3rd quarter worth $198,000. Finally, Evolution Wealth Advisors LLC purchased a new position in GeneDx in the 4th quarter worth $202,000. 61.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

GeneDx Trading Down 6.1 %

WGS stock traded down $4.42 during trading on Wednesday, reaching $67.60. The company had a trading volume of 1,920,810 shares, compared to its average volume of 903,514. GeneDx has a 52 week low of $3.66 and a 52 week high of $98.87. The company has a market cap of $1.86 billion, a P/E ratio of -22.12 and a beta of 2.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The business has a 50 day moving average of $77.91 and a 200 day moving average of $58.87.

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.