GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells $1,331,500.00 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $26.63, for a total value of $1,331,500.00. Following the transaction, the insider now owns 3,508,603 shares of the company’s stock, valued at approximately $93,434,097.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Opko Health, Inc. also recently made the following trade(s):

• On Wednesday, July 3rd, Opko Health, Inc. sold 14,082 shares of GeneDx stock. The shares were sold at an average price of $28.23, for a total value of $397,534.86.

GeneDx Trading Up 0.9 %

WGS stock opened at $28.00 on Friday. The company has a current ratio of 3.22, a quick ratio of 2.99 and a debt-to-equity ratio of 0.25. GeneDx Holdings Corp. has a 12-month low of $1.16 and a 12-month high of $31.35. The stock has a market cap of $731.36 million, a price-to-earnings ratio of -5.41 and a beta of 2.29. The business’s 50-day moving average is $23.22 and its 200 day moving average is $12.28.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Monday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.35. GeneDx had a negative return on equity of 36.23% and a negative net margin of 60.86%. The company had revenue of $62.42 million for the quarter, compared to analysts’ expectations of $49.80 million. On average, sell-side analysts anticipate that GeneDx Holdings Corp. will post -0.92 EPS for the current fiscal year.

Analysts Set New Price Targets

WGS has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on GeneDx in a research report on Monday, June 3rd. They set a “hold” rating and a $21.00 target price on the stock. BTIG Research raised their target price on GeneDx from $19.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. The Goldman Sachs Group raised their target price on GeneDx to $11.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Finally, TD Cowen raised their target price on GeneDx from $14.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th.

Institutional Investors Weigh In On GeneDx

Several institutional investors have recently bought and sold shares of WGS. Oracle Investment Management Inc. boosted its holdings in GeneDx by 531.7% in 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 last quarter. Gagnon Securities LLC boosted its holdings in shares of GeneDx by 59.3% during the 1st quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock worth $5,079,000 after purchasing an additional 207,027 shares during the last quarter. Decheng Capital LLC acquired a new position in shares of GeneDx during the 4th quarter worth approximately $285,000. Gagnon Advisors LLC boosted its holdings in shares of GeneDx by 41.6% during the 1st quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock worth $1,930,000 after purchasing an additional 62,059 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of GeneDx by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock worth $6,460,000 after purchasing an additional 28,678 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.