Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) CFO Sells 3,728 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CFO Kevin Feeley sold 3,728 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $76.75, for a total transaction of $286,124.00. Following the sale, the chief financial officer now owns 28,200 shares in the company, valued at $2,164,350. This represents a 11.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kevin Feeley also recently made the following trade(s):

• On Monday, December 9th, Kevin Feeley sold 1,137 shares of GeneDx stock. The stock was sold at an average price of $76.37, for a total transaction of $86,832.69.
• On Monday, December 2nd, Kevin Feeley sold 263 shares of GeneDx stock. The shares were sold at an average price of $78.39, for a total value of $20,616.57.
• On Thursday, November 21st, Kevin Feeley sold 12,019 shares of GeneDx stock. The shares were sold at an average price of $73.76, for a total value of $886,521.44.
• On Tuesday, October 29th, Kevin Feeley sold 274 shares of GeneDx stock. The stock was sold at an average price of $66.60, for a total value of $18,248.40.

GeneDx Price Performance

NASDAQ WGS opened at $75.30 on Friday. 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 stock has a market capitalization of $2.07 billion, a PE ratio of -24.21 and a beta of 2.03. GeneDx Holdings Corp. has a 12-month low of $2.11 and a 12-month high of $89.11. The company has a 50 day moving average price of $72.11 and a two-hundred day moving average price of $46.96.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.25. The firm had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. GeneDx’s revenue for the quarter was up 44.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.82) earnings per share. As a group, equities analysts predict that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GeneDx

Large investors have recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC acquired a new stake in shares of GeneDx in the second quarter worth $11,335,000. Fred Alger Management LLC acquired a new position in GeneDx during the 3rd quarter worth $16,731,000. Geode Capital Management LLC boosted its holdings in GeneDx by 8.7% during the third quarter. Geode Capital Management LLC now owns 377,631 shares of the company’s stock valued at $16,030,000 after acquiring an additional 30,379 shares during the period. State Street Corp grew its position in shares of GeneDx by 18.3% in the third quarter. State Street Corp now owns 314,914 shares of the company’s stock valued at $13,365,000 after purchasing an additional 48,735 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of GeneDx by 193.5% in the second 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 during the period. Institutional investors own 61.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Craig Hallum upped their target price on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their target price on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their price target on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.33.

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.