Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) CEO Sells $121,287.87 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CEO Katherine Stueland sold 3,639 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $121,287.87. Following the transaction, the chief executive officer now owns 95,457 shares in the company, valued at $3,181,581.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, July 29th, Katherine Stueland sold 2,154 shares of GeneDx stock. The shares were sold at an average price of $33.54, for a total transaction of $72,245.16.
• On Monday, June 17th, Katherine Stueland sold 7,683 shares of GeneDx stock. The shares were sold at an average price of $28.31, for a total transaction of $217,505.73.

GeneDx Stock Down 0.8 %

WGS stock opened at $37.87 on Friday. The business’s fifty day moving average price is $32.87 and its two-hundred day moving average price is $22.53. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -7.31 and a beta of 2.29. GeneDx Holdings Corp. has a fifty-two week low of $1.16 and a fifty-two week high of $38.95. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.38 and a quick ratio of 2.22.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.15. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. The business had revenue of $70.51 million during the quarter, compared to analysts’ expectations of $58.90 million. On average, equities analysts anticipate that GeneDx Holdings Corp. will post -0.75 earnings per share for the current year.

Institutional Investors Weigh In On GeneDx

Several institutional investors have recently made changes to their positions in WGS. Acadian Asset Management LLC acquired a new position in GeneDx in the 2nd quarter valued at $34,000. nVerses Capital LLC acquired a new position in GeneDx in the second quarter valued at about $50,000. Thompson Davis & CO. Inc. raised its stake in GeneDx by 20.8% in the first quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock valued at $220,000 after purchasing an additional 4,150 shares in the last quarter. Decheng Capital LLC acquired a new stake in GeneDx during the fourth quarter worth about $285,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in GeneDx during the second quarter worth about $290,000. 61.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. BTIG Research boosted their price target on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum increased their price target on GeneDx from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Jefferies Financial Group started coverage on shares of GeneDx in a research report on Monday, June 3rd. They set a “hold” rating and a $21.00 price objective for the company. The Goldman Sachs Group upped their price objective on shares of GeneDx from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company initiated coverage on shares of GeneDx in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 target price for the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

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.