GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells $1,317,377.92 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder Opko Health, Inc. sold 39,824 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $33.08, for a total transaction of $1,317,377.92. Following the completion of the sale, the insider now directly owns 2,746,972 shares in the company, valued at approximately $90,869,833.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Opko Health, Inc. also recently made the following trade(s):

• On Monday, August 19th, Opko Health, Inc. sold 50,000 shares of GeneDx stock. The shares were sold at an average price of $34.49, for a total transaction of $1,724,500.00.
• On Monday, August 12th, Opko Health, Inc. sold 59,787 shares of GeneDx stock. The stock was sold at an average price of $33.95, for a total value of $2,029,768.65.
• On Thursday, August 8th, Opko Health, Inc. sold 100,000 shares of GeneDx stock. The shares were sold at an average price of $31.82, for a total value of $3,182,000.00.
• On Tuesday, August 6th, Opko Health, Inc. sold 12,994 shares of GeneDx stock. The stock was sold at an average price of $29.35, for a total value of $381,373.90.
• On Wednesday, July 31st, Opko Health, Inc. sold 88,839 shares of GeneDx stock. The shares were sold at an average price of $33.50, for a total value of $2,976,106.50.
• On Monday, July 29th, Opko Health, Inc. sold 50,000 shares of GeneDx stock. The stock was sold at an average price of $33.86, for a total transaction of $1,693,000.00.
• On Friday, July 26th, Opko Health, Inc. sold 60,000 shares of GeneDx stock. The stock was sold at an average price of $33.85, for a total transaction of $2,031,000.00.
• On Wednesday, July 24th, Opko Health, Inc. sold 75,000 shares of GeneDx stock. The stock was sold at an average price of $33.72, for a total transaction of $2,529,000.00.
• On Monday, July 22nd, Opko Health, Inc. sold 50,000 shares of GeneDx stock. The stock was sold at an average price of $32.61, for a total value of $1,630,500.00.
• On Friday, July 19th, Opko Health, Inc. sold 25,000 shares of GeneDx stock. The shares were sold at an average price of $32.29, for a total transaction of $807,250.00.

GeneDx Trading Up 2.8 %

Shares of NASDAQ WGS traded up $0.96 during midday trading on Monday, hitting $35.53. 551,751 shares of the company traded hands, compared to its average volume of 404,123. GeneDx Holdings Corp. has a 12-month low of $1.16 and a 12-month high of $37.45. The firm has a market cap of $928.11 million, a P/E ratio of -6.86 and a beta of 2.29. The stock has a 50-day moving average price of $30.31 and a 200 day moving average price of $18.71. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.99 and a current ratio of 2.38.

Analyst Ratings Changes

A number of equities analysts have commented on WGS shares. The Goldman Sachs Group lifted their price target on GeneDx from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. TD Cowen increased their price target on shares of GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. BTIG Research boosted their price objective on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Jefferies Financial Group initiated coverage on shares of GeneDx in a research note on Monday, June 3rd. They set a “hold” rating and a $21.00 price objective for the company. Finally, Craig Hallum raised their target price on GeneDx from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in shares of GeneDx in the 2nd quarter valued at approximately $34,000. nVerses Capital LLC purchased a new stake in shares of GeneDx in the 2nd quarter worth about $50,000. PFG Investments LLC bought a new position in shares of GeneDx in the 1st quarter worth about $95,000. The Manufacturers Life Insurance Company purchased a new position in GeneDx during the 2nd quarter valued at about $290,000. Finally, Algert Global LLC purchased a new stake in GeneDx in the second quarter worth about $356,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

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.