Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) CFO Sells $108,737.20 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CFO Kevin Feeley sold 1,430 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.04, for a total transaction of $108,737.20. Following the completion of the transaction, the chief financial officer now directly owns 26,770 shares in the company, valued at $2,035,590.80. The trade was a 5.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, December 16th, Kevin Feeley sold 3,728 shares of GeneDx stock. The stock was sold at an average price of $76.75, for a total transaction of $286,124.00.
• On Monday, December 9th, Kevin Feeley sold 1,137 shares of GeneDx stock. The shares were 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 stock was 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 shares were sold at an average price of $66.60, for a total value of $18,248.40.

GeneDx Trading Down 0.5 %

Shares of NASDAQ:WGS opened at $96.57 on Thursday. The company has a market cap of $2.65 billion, a PE ratio of -31.05 and a beta of 2.02. The company’s 50 day moving average is $77.48 and its two-hundred day moving average is $52.46. GeneDx Holdings Corp. has a 52 week low of $2.85 and a 52 week high of $98.87. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25.

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

Hedge Funds Weigh In On GeneDx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WGS. Driehaus Capital Management LLC purchased a new stake in shares of GeneDx during the 2nd quarter worth approximately $11,335,000. Fred Alger Management LLC purchased a new stake in GeneDx in the third quarter valued at $16,731,000. Geode Capital Management LLC boosted its stake in GeneDx by 8.7% in 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 in the last quarter. State Street Corp boosted its stake in 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 acquiring an additional 48,735 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of GeneDx by 193.5% during 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 last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. TD Cowen increased their price target on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group raised their price target on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price objective 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, Craig Hallum lifted 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, GeneDx presently has an average rating of “Moderate Buy” and an average price target of $70.67.

GeneDx Company Profile

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.