GeneDx (NASDAQ:WGS) CEO Katherine Stueland Sells 10,501 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CEO Katherine Stueland sold 10,501 shares of the business’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $97.61, for a total transaction of $1,025,002.61. Following the sale, the chief executive officer directly owned 115,476 shares of the company’s stock, valued at $11,271,612.36. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, September 9th, Katherine Stueland sold 3,692 shares of GeneDx stock. The stock was sold at an average price of $84.22, for a total transaction of $310,940.24.

GeneDx Trading Down 3.7%

WGS stock opened at $101.10 on Friday. GeneDx Holdings Corp. has a 12 month low of $32.21 and a 12 month high of $170.87. The firm’s 50-day moving average is $77.73 and its 200 day moving average is $67.34. The company has a market capitalization of $3.01 billion, a PE ratio of -27.77 and a beta of 1.99. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.30 and a quick ratio of 3.06.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.01 earnings per share (EPS) 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 negative net margin of 23.41% and a positive return on equity of 4.12%. During the same period in the previous year, the company earned $0.36 EPS. On average, research analysts anticipate that GeneDx Holdings Corp. will post -0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WGS. Guggenheim reissued a “buy” rating and issued a $74.00 price objective (up from $70.00) on shares of GeneDx in a research note on Monday, June 29th. BTIG Research reaffirmed a “buy” rating and set a $90.00 target price on shares of GeneDx in a research report on Tuesday, August 4th. Weiss Ratings raised GeneDx from a “sell (e+)” rating to a “sell (d)” rating in a research report on Tuesday, August 4th. Zacks Research raised GeneDx from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 26th. Finally, Piper Sandler restated an “overweight” rating and set a $63.00 price target (up from $50.00) on shares of GeneDx in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.57.

Hedge Funds Weigh In On GeneDx

Large investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in shares of GeneDx by 77.5% during the 1st quarter. Bank of America Corp DE now owns 234,606 shares of the company’s stock worth $15,066,000 after purchasing an additional 102,456 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in GeneDx by 4.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,220,502 shares of the company’s stock valued at $158,738,000 after purchasing an additional 52,322 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in GeneDx by 65.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 633,457 shares of the company’s stock valued at $40,681,000 after purchasing an additional 251,732 shares during the last quarter. Lazard Asset Management LLC purchased a new position in GeneDx in the first quarter valued at about $2,177,000. Finally, Bank of New York Mellon Corp raised its holdings in GeneDx by 38.6% in the first quarter. Bank of New York Mellon Corp now owns 315,508 shares of the company’s stock worth $20,262,000 after purchasing an additional 87,922 shares in the last quarter. Institutional investors own 61.72% of the company’s stock.

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.