Jason Ryan Sells 31,510 Shares of GeneDx Holdings Corp. (NASDAQ:WGS) Stock

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

GeneDx Stock Up 9.2 %

Shares of GeneDx stock opened at $78.71 on Friday. The firm has a market cap of $2.16 billion, a PE ratio of -25.31 and a beta of 2.11. The business’s 50 day simple moving average is $59.61 and its 200 day simple moving average is $39.55. 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 Holdings Corp. has a 52-week low of $1.41 and a 52-week high of $89.11.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.25. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The firm had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. During the same period in the previous year, the business earned ($0.82) EPS. The company’s revenue was up 44.3% compared to the same quarter last year. On average, analysts predict that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of GeneDx

Several institutional investors and hedge funds have recently bought and sold shares of WGS. Barclays PLC increased its holdings in GeneDx by 346.3% during the third quarter. Barclays PLC now owns 18,921 shares of the company’s stock worth $803,000 after buying an additional 14,681 shares during the last quarter. Geode Capital Management LLC grew its position in shares of GeneDx by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 377,631 shares of the company’s stock valued at $16,030,000 after acquiring an additional 30,379 shares during the period. State Street Corp increased its stake in shares of GeneDx by 18.3% during the 3rd quarter. State Street Corp now owns 314,914 shares of the company’s stock worth $13,365,000 after purchasing an additional 48,735 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of GeneDx in the 3rd quarter valued at about $220,000. Finally, Point72 Asset Management L.P. lifted its stake in GeneDx by 87.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 293,671 shares of the company’s stock valued at $12,463,000 after purchasing an additional 136,926 shares during the last quarter. Institutional investors own 61.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. TD Cowen upped their price objective on shares of GeneDx from $46.00 to $50.00 and gave the company 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 report on Wednesday, October 30th. BTIG Research lifted their price objective on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their target price on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their price target on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus 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.