Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) Director Sells 31,510 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Jason Ryan sold 31,510 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were 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 owns 15,490 shares in the company, valued at approximately $1,104,127.20. This represents a 67.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

GeneDx Stock Performance

WGS opened at $78.71 on Friday. The firm has a market cap of $2.16 billion, a P/E ratio of -25.31 and a beta of 2.11. The business’s fifty day moving average is $59.61 and its 200-day moving average is $39.55. GeneDx Holdings Corp. has a 52-week low of $1.41 and a 52-week high of $89.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40.

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

Wall Street Analyst Weigh In

WGS has been the topic of a number of research reports. BTIG Research upped their price target on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. TD Cowen increased their target price on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group boosted their price target on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Craig Hallum increased their price objective on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their target price on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. 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 MarketBeat.com, GeneDx has an average rating of “Moderate Buy” and a consensus target price of $59.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in GeneDx in the second quarter valued at approximately $2,362,000. Lisanti Capital Growth LLC acquired a new stake in shares of GeneDx during the 3rd quarter valued at $1,554,000. Chartwell Investment Partners LLC bought a new stake in GeneDx during the 3rd quarter worth $1,722,000. Millennium Management LLC increased its holdings in GeneDx by 193.5% in the 2nd quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock worth $8,140,000 after purchasing an additional 205,318 shares in the last quarter. Finally, Algert Global LLC acquired a new position in GeneDx in the 2nd quarter worth about $356,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.