Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells $2,031,000.00 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder Opko Health, Inc. sold 60,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $33.85, for a total transaction of $2,031,000.00. Following the completion of the sale, the insider now owns 3,123,403 shares in the company, valued at approximately $105,727,191.55. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major 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 Wednesday, July 24th, Opko Health, Inc. sold 75,000 shares of GeneDx stock. The shares were sold at an average price of $33.72, for a total value of $2,529,000.00.
• On Monday, July 22nd, Opko Health, Inc. sold 50,000 shares of GeneDx stock. The stock was sold at an average price of $32.61, for a total value 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 value of $807,250.00.
• On Wednesday, July 17th, Opko Health, Inc. sold 25,000 shares of GeneDx stock. The stock was 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 value 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 value of $1,331,500.00.

GeneDx Price Performance

Shares of WGS opened at $33.53 on Monday. The firm has a market capitalization of $875.80 million, a price-to-earnings ratio of -6.47 and a beta of 2.29. The stock’s fifty day moving average is $27.31 and its 200-day moving average is $15.71. GeneDx Holdings Corp. has a one year low of $1.16 and a one year high of $35.65. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.99 and a current ratio of 3.22.

GeneDx (NASDAQ:WGS) last released its earnings results on Monday, April 29th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.35. The firm had revenue of $62.42 million for the quarter, compared to analysts’ expectations of $49.80 million. GeneDx had a negative net margin of 60.86% and a negative return on equity of 36.23%. Equities analysts anticipate that GeneDx Holdings Corp. will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WGS shares. Craig Hallum began coverage on GeneDx in a research report on Wednesday, July 10th. They set a “buy” rating and a $43.00 price objective for the company. TD Cowen boosted their price target on shares of GeneDx from $14.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. BTIG Research increased their price objective on shares of GeneDx from $19.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Jefferies Financial Group initiated coverage on shares of GeneDx in a research note on Monday, June 3rd. They set a “hold” rating and a $21.00 target price for the company. Finally, The Goldman Sachs Group raised their price target on shares of GeneDx from $12.50 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Thompson Davis & CO. Inc. raised its holdings in GeneDx by 99.4% during the fourth quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock worth $55,000 after purchasing an additional 9,944 shares in the last quarter. PFG Investments LLC acquired a new position in shares of GeneDx during the 1st quarter valued at $95,000. Decheng Capital LLC bought a new stake in shares of GeneDx in the 4th quarter worth $285,000. Legal Advantage Investments Inc. bought a new position in GeneDx during the second quarter valued at about $518,000. Finally, Bank of New York Mellon Corp acquired a new position in GeneDx during the second quarter worth about $991,000. 61.72% of the stock is currently owned by 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.