Insider Selling: GeneDx (NASDAQ:WGS) CFO Sells 5,706 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CFO Kevin Feeley sold 5,706 shares of GeneDx stock in a transaction on Monday, March 16th. The shares were sold at an average price of $76.80, for a total value of $438,220.80. Following the completion of the sale, the chief financial officer directly owned 27,148 shares of the company’s stock, valued at $2,084,966.40. The trade was a 17.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, March 4th, Kevin Feeley sold 6,187 shares of GeneDx stock. The stock was sold at an average price of $78.61, for a total value of $486,360.07.
• On Thursday, January 29th, Kevin Feeley sold 317 shares of GeneDx stock. The shares were sold at an average price of $93.99, for a total value of $29,794.83.

GeneDx Stock Down 0.8%

Shares of WGS traded down $0.61 during mid-day trading on Tuesday, hitting $75.50. 622,092 shares of the company’s stock were exchanged, compared to its average volume of 799,978. The stock’s 50-day moving average is $95.16 and its 200-day moving average is $120.38. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.34 and a current ratio of 2.46. GeneDx Holdings Corp. has a fifty-two week low of $55.17 and a fifty-two week high of $170.87. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 53.98 and a beta of 2.03.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The firm had revenue of $120.99 million during the quarter, compared to analysts’ expectations of $120.80 million. GeneDx had a negative net margin of 4.92% and a positive return on equity of 14.73%. On average, sell-side analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WGS. Wells Fargo & Company raised GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price objective on the stock in a research report on Monday, February 9th. BTIG Research decreased their target price on GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Canaccord Genuity Group upped their price target on GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $130.00 price target (down from $160.00) on shares of GeneDx in a research report on Tuesday, February 24th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, GeneDx has a consensus rating of “Moderate Buy” and an average price target of $150.71.

Institutional Investors Weigh In On GeneDx

A number of hedge funds and other institutional investors have recently modified their holdings of WGS. Caitong International Asset Management Co. Ltd lifted its position in shares of GeneDx by 3,704.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 837 shares of the company’s stock worth $109,000 after purchasing an additional 815 shares during the last quarter. Invesco Ltd. raised its stake in GeneDx by 59.2% in the fourth quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock valued at $102,288,000 after buying an additional 292,394 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new stake in GeneDx in the fourth quarter valued at $208,000. Regal Partners Ltd lifted its holdings in GeneDx by 180.0% during the 4th quarter. Regal Partners Ltd now owns 7,000 shares of the company’s stock worth $910,000 after buying an additional 4,500 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in GeneDx during the 4th quarter worth about $73,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.