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

GeneDx Holdings Corp. (NASDAQ:WGS) shares dropped 6.3% on Friday after an insider sold shares in the company. The company traded as low as $88.25 and last traded at $90.48. Approximately 91,160 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 792,299 shares. The stock had previously closed at $96.57.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on WGS shares. The Goldman Sachs Group upped their target price on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their target price on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Craig Hallum increased their price target on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, TD Cowen lifted their price objective on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, GeneDx presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.67.

GeneDx Trading Down 7.4 %

The company’s 50-day moving average is $78.01 and its 200 day moving average is $53.38. The company has a market cap of $2.46 billion, a price-to-earnings 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.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.25. The firm 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 for the quarter was up 44.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.82) EPS. Research analysts predict that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in GeneDx during the second quarter worth $2,362,000. Chartwell Investment Partners LLC acquired a new position in shares of GeneDx during the 3rd quarter worth about $1,722,000. Charles Schwab Investment Management Inc. lifted its stake in GeneDx by 304.3% in the 3rd 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in GeneDx in the 3rd quarter worth about $325,000. Finally, Lisanti Capital Growth LLC purchased a new stake in GeneDx during the 3rd quarter worth approximately $1,554,000. 61.72% of the stock is owned by institutional investors and hedge funds.

GeneDx Company Profile

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.