GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder School Of Medicine At Mo Icahn Sells 20,359 Shares

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $69.78, for a total value of $1,420,651.02. Following the sale, the insider now owns 2,846,474 shares in the company, valued at approximately $198,626,955.72. This represents a 0.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, November 18th, School Of Medicine At Mo Icahn sold 126,782 shares of GeneDx stock. The shares were sold at an average price of $70.78, for a total transaction of $8,973,629.96.
• On Thursday, October 31st, School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock. The stock was sold at an average price of $75.00, for a total value of $64,935,000.00.

GeneDx Stock Down 0.1 %

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

GeneDx (NASDAQ:WGS) last announced its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share 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 firm had revenue of $76.90 million for the quarter, compared to the consensus estimate of $64.98 million. During the same quarter in the previous year, the business earned ($0.82) EPS. The company’s revenue was up 44.3% compared to the same quarter last year. Equities analysts predict that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WGS shares. TD Cowen increased their price target on GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group lifted their price objective on GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. 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. Craig Hallum raised their price target on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, BTIG Research upped their price objective on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. 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 has a consensus rating of “Moderate Buy” and a consensus target price of $59.33.

Institutional Inflows and Outflows

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

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.