Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) CEO Sells 2,731 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CEO Katherine Stueland sold 2,731 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $94.73, for a total transaction of $258,707.63. Following the completion of the sale, the chief executive officer now owns 7,752 shares in the company, valued at approximately $734,346.96. This trade represents a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Wednesday, January 29th, Katherine Stueland sold 1,657 shares of GeneDx stock. The stock was sold at an average price of $78.48, for a total transaction of $130,041.36.
• On Tuesday, January 7th, Katherine Stueland sold 51,420 shares of GeneDx stock. The stock was sold at an average price of $94.48, for a total transaction of $4,858,161.60.
• On Thursday, January 2nd, Katherine Stueland sold 18,006 shares of GeneDx stock. The stock was sold at an average price of $78.18, for a total transaction of $1,407,709.08.
• On Monday, December 16th, Katherine Stueland sold 10,501 shares of GeneDx stock. The stock was sold at an average price of $76.75, for a total transaction of $805,951.75.

GeneDx Stock Up 5.6 %

GeneDx stock opened at $92.08 on Thursday. The company has a market cap of $2.58 billion, a P/E ratio of -46.98 and a beta of 1.90. GeneDx Holdings Corp. has a 1-year low of $7.72 and a 1-year high of $115.60. The company has a fifty day simple moving average of $84.02 and a 200 day simple moving average of $68.85. 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 (NASDAQ:WGS) last released its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.66. The business had revenue of $95.64 million during the quarter, compared to the consensus estimate of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. Research analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WGS. William Blair Investment Management LLC bought a new position in shares of GeneDx in the 4th quarter valued at about $51,496,000. Lord Abbett & CO. LLC bought a new position in shares of GeneDx in the 4th quarter valued at about $48,458,000. Summit Partners Public Asset Management LLC grew its position in shares of GeneDx by 336.9% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock valued at $58,073,000 after acquiring an additional 582,619 shares during the period. Science & Technology Partners L.P. bought a new position in shares of GeneDx in the 4th quarter valued at about $30,821,000. Finally, Fred Alger Management LLC bought a new position in shares of GeneDx in the 3rd quarter valued at about $16,731,000. Institutional investors own 61.72% of the company’s stock.

Analyst Ratings Changes

WGS has been the topic of a number of research analyst reports. 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 report on Tuesday, January 7th. The Goldman Sachs Group raised their price objective on shares of GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $72.33.

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.