Opko Health, Inc. Sells 75,000 Shares of GeneDx Holdings Corp. (NASDAQ:WGS) Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder Opko Health, Inc. sold 75,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $33.72, for a total transaction of $2,529,000.00. Following the completion of the transaction, the insider now owns 3,183,403 shares in the company, valued at approximately $107,344,349.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% 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 Friday, July 26th, Opko Health, Inc. sold 60,000 shares of GeneDx stock. The shares were sold at an average price of $33.85, for a total transaction of $2,031,000.00.
• On Monday, July 22nd, Opko Health, Inc. sold 50,000 shares of GeneDx stock. The shares were sold at an average price of $32.61, for a total transaction of $1,630,500.00.
• On Friday, July 19th, Opko Health, Inc. sold 25,000 shares of GeneDx stock. The shares were sold at an average price of $32.29, for a total transaction of $807,250.00.
• On Wednesday, July 17th, Opko Health, Inc. sold 25,000 shares of GeneDx stock. The shares were sold at an average price of $32.93, for a total transaction of $823,250.00.
• On Friday, July 5th, Opko Health, Inc. sold 36,118 shares of GeneDx stock. The shares were sold at an average price of $28.24, for a total transaction of $1,019,972.32.
• 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 transaction of $397,534.86.
• On Monday, July 1st, Opko Health, Inc. sold 50,000 shares of GeneDx stock. The shares were sold at an average price of $26.63, for a total transaction of $1,331,500.00.

GeneDx Stock Up 2.5 %

WGS stock traded up $0.81 during trading on Friday, reaching $33.53. The stock had a trading volume of 499,397 shares, compared to its average volume of 391,348. GeneDx Holdings Corp. has a one year low of $1.16 and a one year high of $35.65. The company has a quick ratio of 2.99, a current ratio of 3.22 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $27.31 and its two-hundred day moving average is $15.55. The company has a market capitalization of $875.80 million, a price-to-earnings ratio of -6.47 and a beta of 2.29.

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

Analyst Ratings Changes

WGS has been the subject of several recent research reports. TD Cowen boosted their target price on shares of GeneDx from $14.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Jefferies Financial Group initiated coverage on shares of GeneDx in a research report on Monday, June 3rd. They set a “hold” rating and a $21.00 target price for the company. Craig Hallum initiated coverage on shares of GeneDx in a research report on Wednesday, July 10th. They set a “buy” rating and a $43.00 target price for the company. BTIG Research boosted their target price on shares of GeneDx from $19.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, The Goldman Sachs Group boosted their target price on shares of GeneDx from $12.50 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. Two 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, GeneDx presently has an average rating of “Moderate Buy” and a consensus price target of $30.20.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oracle Investment Management Inc. boosted its stake in GeneDx by 531.7% in the first quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock valued at $10,286,000 after acquiring an additional 948,253 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of GeneDx by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after buying an additional 28,678 shares in the last quarter. Gagnon Securities LLC lifted its stake in shares of GeneDx by 59.3% during the 1st quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock valued at $5,079,000 after buying an additional 207,027 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of GeneDx during the 2nd quarter valued at approximately $9,575,000. Finally, Gagnon Advisors LLC lifted its stake in shares of GeneDx by 41.6% during the 1st quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock valued at $1,930,000 after buying an additional 62,059 shares in the last quarter. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

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.