Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells 60,000 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder Opko Health, Inc. sold 60,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $33.85, for a total transaction of $2,031,000.00. Following the sale, the insider now owns 3,123,403 shares of the company’s stock, valued at approximately $105,727,191.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Opko Health, Inc. also recently made the following trade(s):

• On Wednesday, July 24th, Opko Health, Inc. sold 75,000 shares of GeneDx stock. The stock was sold at an average price of $33.72, for a total transaction of $2,529,000.00.
• On Monday, July 22nd, Opko Health, Inc. sold 50,000 shares of GeneDx stock. The shares were sold at an average price of $32.61, for a total value of $1,630,500.00.
• On Friday, July 19th, Opko Health, Inc. sold 25,000 shares of GeneDx stock. The stock was sold at an average price of $32.29, for a total value of $807,250.00.
• On Wednesday, July 17th, Opko Health, Inc. sold 25,000 shares of GeneDx stock. The stock was sold at an average price of $32.93, for a total value of $823,250.00.
• On Friday, July 5th, Opko Health, Inc. sold 36,118 shares of GeneDx stock. The shares were sold at an average price of $28.24, for a total transaction of $1,019,972.32.
• On Wednesday, July 3rd, Opko Health, Inc. sold 14,082 shares of GeneDx stock. The stock was sold at an average price of $28.23, for a total transaction of $397,534.86.
• On Monday, July 1st, Opko Health, Inc. sold 50,000 shares of GeneDx stock. The stock was sold at an average price of $26.63, for a total transaction of $1,331,500.00.

GeneDx Price Performance

GeneDx stock opened at $33.53 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.99 and a current ratio of 3.22. GeneDx Holdings Corp. has a 52 week low of $1.16 and a 52 week high of $35.65. The stock has a market capitalization of $875.80 million, a P/E ratio of -6.47 and a beta of 2.29. The stock has a fifty day moving average of $27.31 and a 200-day moving average of $15.71.

GeneDx (NASDAQ:WGS) last issued its earnings results on Monday, April 29th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.35. The firm had revenue of $62.42 million during the quarter, compared to the consensus estimate of $49.80 million. GeneDx had a negative return on equity of 36.23% and a negative net margin of 60.86%. On average, sell-side analysts expect that GeneDx Holdings Corp. will post -0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. TD Cowen boosted their price target on GeneDx from $14.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. The Goldman Sachs Group upped their target price on GeneDx from $12.50 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. Craig Hallum initiated coverage on GeneDx in a research report on Wednesday, July 10th. They issued a “buy” rating and a $43.00 price target on the stock. BTIG Research upped their price objective on shares of GeneDx from $19.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, Jefferies Financial Group began coverage on shares of GeneDx in a report on Monday, June 3rd. They issued a “hold” rating and a $21.00 target price on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, GeneDx presently has an average rating of “Moderate Buy” and an average target price of $30.20.

Hedge Funds Weigh In On GeneDx

A number of institutional investors have recently added to or reduced their stakes in WGS. PFG Investments LLC acquired a new stake in GeneDx in the first quarter valued at approximately $95,000. Legal Advantage Investments Inc. acquired a new stake in shares of GeneDx during the 2nd quarter valued at $518,000. Thompson Davis & CO. Inc. grew its position in GeneDx by 99.4% during the 4th quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock worth $55,000 after acquiring an additional 9,944 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in GeneDx in the 2nd quarter worth about $991,000. Finally, Calamos Advisors LLC bought a new position in GeneDx in the second quarter valued at about $1,137,000. 61.72% of the stock is currently 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.