Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells 865,800 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total value of $64,935,000.00. Following the completion of the transaction, the insider now directly owns 2,866,833 shares in the company, valued at approximately $215,012,475. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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.

GeneDx Price Performance

NASDAQ:WGS opened at $75.95 on Thursday. GeneDx Holdings Corp. has a 52 week low of $1.16 and a 52 week high of $89.11. 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 stock has a market capitalization of $2.05 billion, a PE ratio of -24.50 and a beta of 2.11. The stock’s 50-day moving average price is $49.02 and its 200-day moving average price is $34.49.

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

Analysts Set New Price Targets

Several brokerages have weighed in on WGS. BTIG Research increased their price target on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum increased their price target on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price target on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their price target on GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, TD Cowen increased their price target on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three investment 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 company has an average rating of “Moderate Buy” and an average price target of $59.33.

Institutional Investors Weigh In On GeneDx

A number of institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC purchased a new position in GeneDx in the 2nd quarter valued at about $34,000. nVerses Capital LLC purchased a new position in GeneDx in the 2nd quarter valued at about $50,000. CWM LLC purchased a new position in GeneDx in the 3rd quarter valued at about $89,000. SG Americas Securities LLC purchased a new position in GeneDx in the 3rd quarter valued at about $198,000. Finally, Palumbo Wealth Management LLC purchased a new position in GeneDx in the 3rd quarter valued at about $287,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.