Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) Director Sells $2,246,032.80 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Jason Ryan sold 31,510 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $71.28, for a total transaction of $2,246,032.80. Following the completion of the transaction, the director now directly owns 15,490 shares of the company’s stock, valued at $1,104,127.20. This trade represents a 67.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

GeneDx Stock Up 9.2 %

WGS stock opened at $78.71 on Friday. The stock has a market capitalization of $2.16 billion, a PE ratio of -25.31 and a beta of 2.11. GeneDx Holdings Corp. has a 52 week low of $1.41 and a 52 week high of $89.11. 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 firm has a 50 day moving average of $59.61 and a 200 day moving average of $39.69.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.25. The firm had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The business’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.82) earnings per share. Sell-side analysts forecast that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. BTIG Research lifted their price target on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Craig Hallum boosted their target price on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. TD Cowen raised their price target on shares of GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. 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 research note on Wednesday, October 30th. Finally, Wells Fargo & Company raised 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. 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.33.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in shares of GeneDx during the second quarter worth $34,000. nVerses Capital LLC purchased a new position in shares of GeneDx during the 2nd quarter valued at about $50,000. CWM LLC acquired a new position in shares of GeneDx in the 3rd quarter valued at about $89,000. Verition Fund Management LLC boosted its stake in shares of GeneDx by 12.9% in the third quarter. Verition Fund Management LLC now owns 25,845 shares of the company’s stock worth $1,097,000 after buying an additional 2,945 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in GeneDx by 36.1% during the second quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock worth $451,000 after acquiring an additional 4,573 shares during the period. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

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.