Insider Selling: GeneDx (NASDAQ:WGS) CEO Sells $1,562,213.73 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CEO Katherine Stueland sold 10,857 shares of GeneDx stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $143.89, for a total value of $1,562,213.73. Following the sale, the chief executive officer directly owned 14,237 shares in the company, valued at $2,048,561.93. The trade was a 43.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Tuesday, December 9th, Katherine Stueland sold 3,639 shares of GeneDx stock. The stock was sold at an average price of $159.28, for a total value of $579,619.92.
• On Wednesday, October 29th, Katherine Stueland sold 2,158 shares of GeneDx stock. The shares were sold at an average price of $136.54, for a total transaction of $294,653.32.

GeneDx Price Performance

NASDAQ:WGS traded up $0.38 on Thursday, reaching $136.32. The stock had a trading volume of 373,250 shares, compared to its average volume of 877,994. The company has a quick ratio of 2.59, a current ratio of 2.71 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $3.94 billion, a P/E ratio of 1,514.67 and a beta of 1.99. GeneDx Holdings Corp. has a 1-year low of $55.17 and a 1-year high of $170.87. The stock has a fifty day moving average price of $140.55 and a 200-day moving average price of $115.36.

GeneDx (NASDAQ:WGS) last posted its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.21. The company had revenue of $116.74 million during the quarter, compared to analysts’ expectations of $104.33 million. GeneDx had a net margin of 0.52% and a return on equity of 20.22%. Research analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Hedge Funds Weigh In On GeneDx

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. boosted its stake in shares of GeneDx by 25.8% during the 1st quarter. Raymond James Financial Inc. now owns 333,376 shares of the company’s stock worth $29,525,000 after buying an additional 68,331 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in GeneDx by 150.9% during the second quarter. Harbor Capital Advisors Inc. now owns 39,979 shares of the company’s stock worth $3,690,000 after acquiring an additional 24,042 shares in the last quarter. MRA Advisory Group bought a new stake in GeneDx during the second quarter worth about $298,000. Rhumbline Advisers grew its stake in GeneDx by 42.7% in the second quarter. Rhumbline Advisers now owns 27,610 shares of the company’s stock valued at $2,549,000 after purchasing an additional 8,258 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of GeneDx during the 1st quarter worth approximately $488,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on WGS. BTIG Research increased their target price on GeneDx from $165.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Wall Street Zen lowered shares of GeneDx from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, October 8th. Canaccord Genuity Group set a $160.00 target price on shares of GeneDx and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Zacks Research lowered shares of GeneDx from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.78.

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.