Insider Selling: GeneDx (NASDAQ:WGS) CFO Sells 317 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CFO Kevin Feeley sold 317 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $93.99, for a total transaction of $29,794.83. Following the completion of the transaction, the chief financial officer owned 9,168 shares of the company’s stock, valued at approximately $861,700.32. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, December 16th, Kevin Feeley sold 3,855 shares of GeneDx stock. The shares were sold at an average price of $143.87, for a total transaction of $554,618.85.
• On Tuesday, December 9th, Kevin Feeley sold 1,266 shares of GeneDx stock. The shares were sold at an average price of $159.28, for a total value of $201,648.48.

GeneDx Price Performance

Shares of NASDAQ:WGS traded up $2.75 during trading on Monday, hitting $99.01. 574,990 shares of the company’s stock were exchanged, compared to its average volume of 715,811. The business’s 50-day simple moving average is $133.71 and its 200 day simple moving average is $124.88. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 1,100.11 and a beta of 2.01. GeneDx Holdings Corp. has a 52-week low of $55.17 and a 52-week high of $170.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.71 and a quick ratio of 2.59.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its holdings in GeneDx by 2.1% in the fourth quarter. Arizona State Retirement System now owns 5,594 shares of the company’s stock worth $728,000 after acquiring an additional 113 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of GeneDx by 5.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,702 shares of the company’s stock valued at $399,000 after purchasing an additional 181 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in GeneDx by 664.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after purchasing an additional 186 shares in the last quarter. Quarry LP grew its position in GeneDx by 248.8% during the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 209 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in GeneDx by 9.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,922 shares of the company’s stock valued at $380,000 after purchasing an additional 246 shares in the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WGS shares. Wells Fargo & Company set a $155.00 target price on GeneDx and gave the stock an “equal weight” rating in a research note on Monday, December 15th. BTIG Research upped their price target on shares of GeneDx from $165.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Wall Street Zen upgraded shares of GeneDx from a “hold” rating to a “buy” rating in a report on Saturday. Guggenheim reiterated a “buy” rating and issued a $170.00 target price (up from $115.00) on shares of GeneDx in a report on Wednesday, October 29th. Finally, Canaccord Genuity Group upped their price target on shares of GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.13.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.