Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) CEO Sells 2,731 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CEO Katherine Stueland sold 2,731 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $94.73, for a total value of $258,707.63. Following the sale, the chief executive officer now owns 7,752 shares in the company, valued at $734,346.96. This trade represents a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Katherine Stueland also recently made the following trade(s):

• On Wednesday, January 29th, Katherine Stueland sold 1,657 shares of GeneDx stock. The shares were sold at an average price of $78.48, for a total value of $130,041.36.
• On Tuesday, January 7th, Katherine Stueland sold 51,420 shares of GeneDx stock. The shares were sold at an average price of $94.48, for a total value of $4,858,161.60.
• On Thursday, January 2nd, Katherine Stueland sold 18,006 shares of GeneDx stock. The stock was sold at an average price of $78.18, for a total transaction of $1,407,709.08.
• On Monday, December 16th, Katherine Stueland sold 10,501 shares of GeneDx stock. The stock was sold at an average price of $76.75, for a total transaction of $805,951.75.

GeneDx Stock Performance

GeneDx stock traded down $2.49 during trading hours on Tuesday, reaching $87.17. 1,014,754 shares of the stock were exchanged, compared to its average volume of 607,372. The stock has a market cap of $2.45 billion, a P/E ratio of -44.47 and a beta of 1.90. The firm’s 50 day moving average is $83.51 and its 200 day moving average is $68.32. GeneDx Holdings Corp. has a 52-week low of $7.72 and a 52-week high of $115.60. 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, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.66. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The business had revenue of $95.64 million for the quarter, compared to analysts’ expectations of $82.24 million. Analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Hedge Funds Weigh In On GeneDx

Institutional investors and hedge funds have recently made changes to their positions in the business. William Blair Investment Management LLC bought a new position in GeneDx during the fourth quarter worth $51,496,000. Lord Abbett & CO. LLC acquired a new position in GeneDx during the 4th quarter valued at about $48,458,000. Summit Partners Public Asset Management LLC boosted its stake in GeneDx by 336.9% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock valued at $58,073,000 after buying an additional 582,619 shares in the last quarter. Science & Technology Partners L.P. bought a new stake in GeneDx during the fourth quarter worth approximately $30,821,000. Finally, Fred Alger Management LLC acquired a new position in shares of GeneDx in the 3rd quarter worth $16,731,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. TD Cowen lifted their price objective on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. The Goldman Sachs Group lifted their price target on GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.33.

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.