GeneDx Holdings Corp. (NASDAQ:WGS) CEO Sells $4,451,206.62 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CEO Katherine Stueland sold 46,551 shares of GeneDx stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $95.62, for a total transaction of $4,451,206.62. Following the completion of the sale, the chief executive officer now directly owns 48,314 shares of the company’s stock, valued at approximately $4,619,784.68. This trade represents a 49.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, March 13th, Katherine Stueland sold 1,078 shares of GeneDx stock. The stock was sold at an average price of $89.44, for a total value of $96,416.32.
• On Monday, March 17th, Katherine Stueland sold 10,559 shares of GeneDx stock. The shares were sold at an average price of $96.71, for a total value of $1,021,160.89.
• On Monday, March 10th, Katherine Stueland sold 2,731 shares of GeneDx stock. The stock was sold at an average price of $94.73, for a total value of $258,707.63.
• 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 shares were 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.

GeneDx Price Performance

GeneDx stock traded down $2.14 during mid-day trading on Friday, hitting $92.20. The stock had a trading volume of 515,400 shares, compared to its average volume of 640,718. 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’s 50 day moving average is $86.83 and its 200 day moving average is $73.52. The firm has a market capitalization of $2.59 billion, a P/E ratio of -47.04 and a beta of 1.91. GeneDx Holdings Corp. has a one year low of $8.53 and a one year high of $115.60.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The firm had revenue of $95.64 million during the quarter, compared to analysts’ expectations of $82.24 million. On average, sell-side analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GeneDx

Several institutional investors and hedge funds have recently modified their holdings of the stock. William Blair Investment Management LLC purchased a new position in GeneDx during the fourth quarter valued at $51,496,000. Lord Abbett & CO. LLC bought a new position in shares of GeneDx during 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% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock valued at $58,073,000 after purchasing an additional 582,619 shares in the last quarter. Science & Technology Partners L.P. bought a new stake in shares of GeneDx in the fourth quarter worth about $30,821,000. Finally, Fred Alger Management LLC purchased a new stake in shares of GeneDx in the third quarter worth about $16,731,000. Institutional investors own 61.72% of the company’s stock.

Analysts Set New Price Targets

WGS has been the topic of a number of recent research reports. TD Cowen raised their target price on 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 upped their price target on GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.33.

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.