GeneDx (NASDAQ:WGS) CFO Sells $108,222.70 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CFO Kevin Feeley sold 1,285 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $84.22, for a total value of $108,222.70. Following the completion of the sale, the chief financial officer owned 41,476 shares of the company’s stock, valued at $3,493,108.72. The trade was a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kevin Feeley also recently made the following trade(s):

• On Tuesday, June 16th, Kevin Feeley sold 3,729 shares of GeneDx stock. The stock was sold at an average price of $60.77, for a total value of $226,611.33.

GeneDx Stock Down 0.0%

Shares of WGS opened at $85.26 on Monday. The stock’s 50-day moving average price is $74.67 and its two-hundred day moving average price is $66.64. GeneDx Holdings Corp. has a 12 month low of $32.21 and a 12 month high of $170.87. The company has a market capitalization of $2.54 billion, a PE ratio of -23.42 and a beta of 1.99. The company has a current ratio of 3.30, a quick ratio of 3.06 and a debt-to-equity ratio of 0.40.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.20. The company had revenue of $114.44 million during the quarter, compared to analysts’ expectations of $111.01 million. GeneDx had a positive return on equity of 4.12% and a negative net margin of 23.41%.During the same quarter in the prior year, the firm posted $0.36 earnings per share. On average, analysts anticipate that GeneDx Holdings Corp. will post -0.41 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WGS. Wall Street Zen upgraded shares of GeneDx from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Piper Sandler reiterated an “overweight” rating and set a $63.00 price objective (up from $50.00) on shares of GeneDx in a research report on Tuesday, June 23rd. Weiss Ratings raised shares of GeneDx from a “sell (e+)” rating to a “sell (d)” rating in a research note on Tuesday, August 4th. Guggenheim restated a “buy” rating and issued a $74.00 target price (up from $70.00) on shares of GeneDx in a report on Monday, June 29th. Finally, Canaccord Genuity Group boosted their target price on shares of GeneDx from $75.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, GeneDx presently has an average rating of “Moderate Buy” and a consensus price target of $89.57.

Hedge Funds Weigh In On GeneDx

Several institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its holdings in shares of GeneDx by 5,912.5% during the 2nd quarter. California State Teachers Retirement System now owns 1,505,838 shares of the company’s stock worth $103,376,000 after buying an additional 1,480,793 shares in the last quarter. First Light Asset Management LLC increased its stake in shares of GeneDx by 222.7% in the 2nd quarter. First Light Asset Management LLC now owns 783,923 shares of the company’s stock valued at $53,816,000 after acquiring an additional 540,996 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in shares of GeneDx by 87.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock valued at $132,435,000 after acquiring an additional 474,167 shares during the period. Franklin Resources Inc. lifted its position in shares of GeneDx by 60.4% during the 4th quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company’s stock valued at $142,154,000 after acquiring an additional 411,607 shares during the period. Finally, Invesco Ltd. boosted its stake in GeneDx by 59.2% during the fourth quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock worth $102,288,000 after acquiring an additional 292,394 shares in the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

About GeneDx

GeneDx Holdings Corp., doing business as GeneDx, is a healthcare company focused on genetic testing and genomic diagnostics. The company provides testing designed to help healthcare professionals diagnose rare and inherited conditions, guide clinical management, and support research into genetic disease.

Its offerings include whole exome and whole genome sequencing, targeted genetic tests, chromosomal microarray analysis, and other tests used to identify disease-causing genetic variants.