Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells 20,359 Shares of Stock

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 dated Friday, November 15th. The shares were sold at an average price of $69.78, for a total transaction of $1,420,651.02. Following the sale, the insider now directly owns 2,846,474 shares of the company’s stock, 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 SEC, which is available through this hyperlink. Large shareholders that own more than 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 transaction of $64,935,000.00.

GeneDx Stock Performance

WGS traded down $0.06 on Tuesday, hitting $71.04. 450,412 shares of the company’s stock were exchanged, 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 stock has a fifty day moving average of $57.43 and a two-hundred day moving average of $38.69. 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 Holdings Corp. has a twelve month low of $1.29 and a twelve month high of $89.11.

GeneDx (NASDAQ:WGS) last announced its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $64.98 million. During the same quarter last year, the business posted ($0.82) earnings per share. The company’s quarterly revenue was up 44.3% on a year-over-year basis. On average, research analysts anticipate that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of GeneDx

Institutional investors have recently bought and sold shares of the company. Oracle Investment Management Inc. boosted its holdings in shares of GeneDx by 531.7% during the 1st quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock worth $10,286,000 after buying an additional 948,253 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of GeneDx in the second quarter valued at $11,335,000. Fred Alger Management LLC acquired a new position in GeneDx during the 3rd quarter worth $16,731,000. Assenagon Asset Management S.A. bought a new stake in GeneDx during the 2nd quarter worth about $9,575,000. Finally, Divisadero Street Capital Management LP acquired a new stake in GeneDx during the 2nd quarter worth $5,886,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. BTIG Research upped their price objective on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group lifted their price target on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Craig Hallum boosted their price objective on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. TD Cowen boosted their price target on GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company upped their price objective on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock 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.