Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) CEO Sells $4,175,754.28 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CEO Katherine Stueland sold 46,594 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $89.62, for a total value of $4,175,754.28. Following the completion of the sale, the chief executive officer now owns 1,720 shares of the company’s stock, valued at $154,146.40. This trade represents a 96.44 % 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 the SEC website.

Katherine Stueland also recently made the following trade(s):

• On Wednesday, March 26th, Katherine Stueland sold 46,551 shares of GeneDx stock. The shares were sold at an average price of $95.62, for a total value of $4,451,206.62.
• On Thursday, March 13th, Katherine Stueland sold 1,078 shares of GeneDx stock. The stock was sold at an average price of $89.44, for a total transaction of $96,416.32.
• On Monday, March 17th, Katherine Stueland sold 10,559 shares of GeneDx stock. The shares were sold at an average price of $96.71, for a total transaction of $1,021,160.89.
• On Monday, March 10th, Katherine Stueland sold 2,731 shares of GeneDx stock. The stock was sold at an average price of $94.73, for a total transaction of $258,707.63.
• On Wednesday, January 29th, Katherine Stueland sold 1,657 shares of GeneDx stock. The shares were sold at an average price of $78.48, for a total value of $130,041.36.

GeneDx Price Performance

WGS opened at $96.63 on Friday. The stock has a fifty day moving average price of $90.43 and a 200 day moving average price of $78.11. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. GeneDx Holdings Corp. has a 1 year low of $8.63 and a 1 year high of $115.60. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -49.30 and a beta of 1.93.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.04 by $0.66. The business had revenue of $95.64 million during the quarter, compared to analysts’ expectations of $82.24 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. Analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WGS. TD Cowen upped their target price on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. The Goldman Sachs Group raised their target price on shares of GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, GeneDx has an average rating of “Moderate Buy” and an average target price of $72.33.

Institutional Investors Weigh In On GeneDx

Institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings in GeneDx by 304.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company’s stock valued at $6,240,000 after buying an additional 110,666 shares in the last quarter. FMR LLC lifted its holdings in GeneDx by 295.6% in the 3rd quarter. FMR LLC now owns 53,825 shares of the company’s stock worth $2,284,000 after purchasing an additional 40,219 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in GeneDx during the third quarter valued at approximately $325,000. State Street Corp grew its holdings in GeneDx by 18.3% during the third quarter. State Street Corp now owns 314,914 shares of the company’s stock valued at $13,365,000 after purchasing an additional 48,735 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of GeneDx by 346.3% in 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. Institutional investors and hedge funds 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.