Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells 126,782 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $70.78, for a total value of $8,973,629.96. Following the completion of the transaction, the insider now owns 2,719,692 shares of the company’s stock, valued at approximately $192,499,799.76. This represents a 4.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

School Of Medicine At Mo Icahn also recently made the following trade(s):

• On Friday, November 15th, School Of Medicine At Mo Icahn sold 20,359 shares of GeneDx stock. The stock was sold at an average price of $69.78, for a total transaction of $1,420,651.02.
• On Thursday, October 31st, School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00.

GeneDx Trading Down 0.1 %

Shares of NASDAQ:WGS traded down $0.06 on Tuesday, hitting $71.04. The company had a trading volume of 450,412 shares, compared to its average volume of 450,966. The firm’s 50-day simple moving average is $57.43 and its two-hundred day simple moving average is $38.69. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -22.84 and a beta of 2.11. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. GeneDx Holdings Corp. has a 1 year low of $1.29 and a 1 year high of $89.11.

GeneDx (NASDAQ:WGS) last released 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. The company had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The firm’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.82) EPS. Equities analysts anticipate that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of GeneDx

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new stake in shares of GeneDx in the second quarter worth $2,362,000. Lisanti Capital Growth LLC purchased a new position in shares of GeneDx in the third quarter worth $1,554,000. Millennium Management LLC lifted its holdings in shares of GeneDx by 193.5% during the second quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock valued at $8,140,000 after purchasing an additional 205,318 shares in the last quarter. Chartwell Investment Partners LLC purchased a new stake in shares of GeneDx during the third quarter valued at $1,722,000. Finally, Algert Global LLC bought a new stake in GeneDx in the 2nd quarter worth about $356,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Craig Hallum upped their price target on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group upped their price objective on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. TD Cowen increased their price target on shares of GeneDx from $46.00 to $50.00 and gave the stock 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 company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, BTIG Research increased their price target on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three equities research 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.com, GeneDx presently has an average rating of “Moderate Buy” and an average price target of $59.33.

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.