GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells $8,973,629.96 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $70.78, for a total transaction of $8,973,629.96. Following the sale, the insider now owns 2,719,692 shares of the company’s stock, valued at approximately $192,499,799.76. This represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

School Of Medicine At Mo Icahn also recently made the following trade(s):

• On Friday, November 15th, School Of Medicine At Mo Icahn sold 20,359 shares of GeneDx stock. The stock was sold at an average price of $69.78, for a total value of $1,420,651.02.
• On Thursday, October 31st, School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock. The shares were sold at an average price of $75.00, for a total value of $64,935,000.00.

GeneDx Price Performance

NASDAQ:WGS traded down $0.06 on Tuesday, reaching $71.04. 450,412 shares of the company’s stock traded hands, compared to its average volume of 450,966. The firm has a market cap of $1.95 billion, a PE ratio of -22.84 and a beta of 2.11. 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 stock has a 50-day simple moving average of $57.43 and a 200-day simple moving average of $38.69. GeneDx Holdings Corp. has a 12 month low of $1.29 and a 12 month high of $89.11.

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

Hedge Funds Weigh In On GeneDx

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WGS shares. Craig Hallum raised their price objective on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. 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. TD Cowen raised their target price on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company upped their price target on 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 lifted their price objective on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.