GeneDx (NASDAQ:WGS) Shares Down 6.3% Following Insider Selling

GeneDx Holdings Corp. (NASDAQ:WGS)’s share price fell 6.3% during mid-day trading on Friday following insider selling activity. The stock traded as low as $88.25 and last traded at $90.48. 91,160 shares changed hands during trading, a decline of 88% from the average session volume of 792,299 shares. The stock had previously closed at $96.57.

Specifically, CEO Katherine Stueland sold 51,420 shares of GeneDx stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the transaction, the chief executive officer now directly owns 1,720 shares of the company’s stock, valued at approximately $162,505.60. This trade represents a 96.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Feeley sold 35,506 shares of GeneDx stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $93.82, for a total transaction of $3,331,172.92. Following the completion of the transaction, the chief financial officer now owns 2,472 shares in the company, valued at approximately $231,923.04. The trade was a 93.49 % decrease in their position. The disclosure for this sale can be found here. In other GeneDx news, CFO Kevin Feeley sold 1,430 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.04, for a total transaction of $108,737.20. Following the completion of the sale, the chief financial officer now directly owns 26,770 shares in the company, valued at $2,035,590.80. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

WGS has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Craig Hallum boosted their price objective on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised their target price 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. Finally, TD Cowen boosted their price target on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.67.

GeneDx Price Performance

The firm has a market capitalization of $2.46 billion, a PE ratio of -28.74 and a beta of 2.02. 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 firm’s fifty day simple moving average is $78.01 and its 200-day simple moving average is $53.38.

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

Hedge Funds Weigh In On GeneDx

Several large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in GeneDx during the second quarter valued at about $34,000. CWM LLC purchased a new stake in shares of GeneDx during the third quarter worth about $89,000. SG Americas Securities LLC bought a new stake in GeneDx during the 3rd quarter valued at approximately $198,000. Point72 DIFC Ltd purchased a new position in GeneDx in the 3rd quarter worth approximately $220,000. Finally, Palumbo Wealth Management LLC bought a new position in GeneDx in the 3rd quarter worth approximately $287,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

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.