GeneDx (NASDAQ:WGS) CEO Katherine Stueland Sells 3,692 Shares

GeneDx Holdings Corp. (NASDAQ:WGS) CEO Katherine Stueland sold 3,692 shares of GeneDx stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $84.22, for a total transaction of $310,940.24. Following the transaction, the chief executive officer owned 107,227 shares in the company, valued at approximately $9,030,657.94. The trade was a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 Tuesday, June 16th, Katherine Stueland sold 10,501 shares of GeneDx stock. The shares were sold at an average price of $60.77, for a total value of $638,145.77.

GeneDx Price Performance

WGS opened at $85.26 on Friday. The firm has a market capitalization of $2.54 billion, a P/E ratio of -23.42 and a beta of 1.99. The stock has a fifty day moving average of $74.67 and a 200-day moving average of $66.78. The company has a quick ratio of 3.06, a current ratio of 3.30 and a debt-to-equity ratio of 0.40. GeneDx Holdings Corp. has a 12-month low of $32.21 and a 12-month high of $170.87.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.20. The business had revenue of $114.44 million for the quarter, compared to the consensus estimate of $111.01 million. GeneDx had a positive return on equity of 4.12% and a negative net margin of 23.41%.During the same quarter in the previous year, the company posted $0.36 earnings per share. Equities analysts forecast that GeneDx Holdings Corp. will post -0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On GeneDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in WGS. Royal Bank of Canada grew its holdings in GeneDx by 30.2% during the first quarter. Royal Bank of Canada now owns 29,479 shares of the company’s stock valued at $2,611,000 after purchasing an additional 6,840 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of GeneDx by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock worth $677,000 after buying an additional 453 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of GeneDx by 270,700.0% during the 1st quarter. NewEdge Advisors LLC now owns 2,708 shares of the company’s stock worth $240,000 after buying an additional 2,707 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of GeneDx by 67.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,224 shares of the company’s stock worth $2,500,000 after buying an additional 11,375 shares during the period. Finally, Cetera Investment Advisers acquired a new position in GeneDx in the 2nd quarter valued at $249,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on WGS shares. Guggenheim reiterated a “buy” rating and issued a $74.00 target price (up from $70.00) on shares of GeneDx in a report on Monday, June 29th. Canaccord Genuity Group raised their price target on shares of GeneDx from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. TD Cowen restated a “buy” rating on shares of GeneDx in a report on Wednesday, July 15th. Weiss Ratings raised shares of GeneDx from a “sell (e+)” rating to a “sell (d)” rating in a research report on Tuesday, August 4th. Finally, BTIG Research reiterated a “buy” rating and issued a $90.00 price objective on shares of GeneDx in a research note on Tuesday, August 4th. One equities 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

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.