GeneDx Holdings Corp. (NASDAQ:WGS) Director Sells $2,246,032.80 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Jason Ryan sold 31,510 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $71.28, for a total value of $2,246,032.80. Following the transaction, the director now directly owns 15,490 shares of the company’s stock, valued at $1,104,127.20. This represents a 67.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

GeneDx Price Performance

Shares of WGS traded up $2.69 during midday trading on Thursday, hitting $72.07. 675,200 shares of the company traded hands, compared to its average volume of 451,997. The firm has a 50 day moving average of $58.79 and a 200-day moving average of $39.14. GeneDx Holdings Corp. has a 52 week low of $1.32 and a 52 week high of $89.11. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -23.17 and a beta of 2.11. 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 posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.25. The company had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The firm’s revenue for the quarter was up 44.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.82) EPS. On average, analysts forecast that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On GeneDx

Several institutional investors have recently bought and sold shares of WGS. Acadian Asset Management LLC acquired a new stake in GeneDx during the second quarter valued at $34,000. nVerses Capital LLC purchased a new stake in shares of GeneDx in the 2nd quarter valued at approximately $50,000. CWM LLC purchased a new stake in GeneDx during the 3rd quarter worth approximately $89,000. Verition Fund Management LLC grew its holdings in GeneDx by 12.9% during the 3rd quarter. Verition Fund Management LLC now owns 25,845 shares of the company’s stock worth $1,097,000 after acquiring an additional 2,945 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of GeneDx by 36.1% in the 2nd quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock valued at $451,000 after buying an additional 4,573 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on WGS shares. BTIG Research raised their price objective on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Craig Hallum raised their price target on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, TD Cowen raised their target price on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, GeneDx currently has an average rating of “Moderate Buy” and a consensus target price of $59.33.

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.