GeneDx Target of Unusually Large Options Trading (NASDAQ:WGS)

GeneDx Holdings Corp. (NASDAQ:WGS) saw some unusual options trading on Wednesday. Stock investors purchased 2,566 put options on the stock. This represents an increase of 220% compared to the typical volume of 802 put options.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WGS shares. The Goldman Sachs Group upped their target price on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Craig Hallum lifted their price target on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their target price on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, TD Cowen boosted their price objective on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.67.

Insider Buying and Selling at GeneDx

In other news, major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of GeneDx stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $69.78, for a total value of $1,420,651.02. Following the completion of the transaction, the insider now owns 2,846,474 shares in the company, valued at approximately $198,626,955.72. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Katherine Stueland sold 23,108 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $70.48, for a total value of $1,628,651.84. Following the completion of the transaction, the chief executive officer now owns 82,318 shares in the company, valued at approximately $5,801,772.64. The trade was a 21.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 363,669 shares of company stock worth $28,061,081 in the last three months. 27.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GeneDx

A number of institutional investors have recently modified their holdings of WGS. Barclays PLC lifted its position in GeneDx by 346.3% in the third quarter. Barclays PLC now owns 18,921 shares of the company’s stock worth $803,000 after purchasing an additional 14,681 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of GeneDx during the third quarter valued at $325,000. Chartwell Investment Partners LLC bought a new position in GeneDx in the third quarter valued at approximately $1,722,000. Charles Schwab Investment Management Inc. grew its position in shares of GeneDx by 304.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company’s stock worth $6,240,000 after buying an additional 110,666 shares during the period. Finally, Lisanti Capital Growth LLC acquired a new position in shares of GeneDx in the 3rd quarter valued at $1,554,000. Institutional investors own 61.72% of the company’s stock.

GeneDx Stock Down 6.1 %

Shares of GeneDx stock traded down $4.42 on Wednesday, hitting $67.60. 1,920,810 shares of the company traded hands, compared to its average volume of 903,514. GeneDx has a 12-month low of $3.66 and a 12-month high of $98.87. The company has a 50-day moving average price of $77.91 and a 200 day moving average price of $58.87. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The company has a market cap of $1.86 billion, a PE ratio of -22.12 and a beta of 2.01.

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.