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

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

Specifically, CEO Katherine Stueland sold 51,420 shares of GeneDx stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the completion of the sale, the chief executive officer now directly owns 1,720 shares in the company, valued at approximately $162,505.60. This trade represents a 96.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Feeley sold 35,506 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $93.82, for a total transaction of $3,331,172.92. Following the completion of the transaction, the chief financial officer now owns 2,472 shares in the company, valued at approximately $231,923.04. The trade was a 93.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other GeneDx news, CFO Kevin Feeley sold 1,430 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.04, for a total value of $108,737.20. Following the completion of the sale, the chief financial officer now directly owns 26,770 shares of the company’s stock, valued at $2,035,590.80. The trade was a 5.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on WGS shares. The Goldman Sachs Group lifted their price target on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. TD Cowen lifted their target price on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. 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, Wells Fargo & Company raised their price target on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $70.67.

GeneDx Price Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The firm has a market capitalization of $2.46 billion, a PE ratio of -28.74 and a beta of 2.02. The stock has a fifty day moving average price of $78.01 and a 200-day moving average price of $53.38.

GeneDx (NASDAQ:WGS) last announced its earnings results on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.25. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The business had revenue of $76.90 million during the quarter, compared to the consensus estimate of $64.98 million. During the same period in the previous year, the company posted ($0.82) earnings per share. The firm’s revenue was up 44.3% on a year-over-year basis. Sell-side analysts forecast that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On GeneDx

Several institutional investors have recently bought and sold shares of WGS. Acadian Asset Management LLC purchased a new stake in shares of GeneDx during the 2nd quarter valued at $34,000. CWM LLC purchased a new stake in GeneDx in the third quarter valued at about $89,000. SG Americas Securities LLC acquired a new stake in GeneDx in the third quarter worth about $198,000. Point72 DIFC Ltd purchased a new stake in shares of GeneDx during the third quarter worth about $220,000. Finally, Palumbo Wealth Management LLC acquired a new position in shares of GeneDx during the third quarter valued at about $287,000. 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.