Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells 126,782 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $70.78, for a total value of $8,973,629.96. Following the transaction, the insider now owns 2,719,692 shares of the company’s stock, valued at approximately $192,499,799.76. This trade represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

School Of Medicine At Mo Icahn also recently made the following trade(s):

• On Friday, November 15th, School Of Medicine At Mo Icahn sold 20,359 shares of GeneDx stock. The shares were sold at an average price of $69.78, for a total transaction of $1,420,651.02.
• On Thursday, October 31st, School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00.

GeneDx Stock Up 3.9 %

Shares of WGS opened at $72.07 on Friday. The business’s 50 day simple moving average is $58.79 and its 200-day simple moving average is $39.14. GeneDx Holdings Corp. has a 1 year low of $1.32 and a 1 year high of $89.11. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -23.17 and a beta of 2.11.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.25. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The business had revenue of $76.90 million during the quarter, compared to analyst estimates of $64.98 million. During the same quarter last year, the business earned ($0.82) earnings per share. GeneDx’s quarterly revenue was up 44.3% compared to the same quarter last year. As a group, equities analysts expect that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. TD Cowen increased their price target on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group increased their target price on GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Craig Hallum boosted their price target on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BTIG Research lifted their price objective on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company upped their target price 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in shares of GeneDx during the 2nd quarter worth approximately $34,000. nVerses Capital LLC purchased a new stake in GeneDx in the second quarter worth $50,000. CWM LLC bought a new stake in shares of GeneDx during the third quarter worth $89,000. Verition Fund Management LLC boosted its stake in shares of GeneDx by 12.9% during the third quarter. Verition Fund Management LLC now owns 25,845 shares of the company’s stock valued at $1,097,000 after purchasing an additional 2,945 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of GeneDx by 36.1% in the second quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock worth $451,000 after purchasing an additional 4,573 shares during the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.