Insider Selling: GeneDx (NASDAQ:WGS) CEO Sells 17,179 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CEO Katherine Stueland sold 17,179 shares of GeneDx stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $76.80, for a total transaction of $1,319,347.20. Following the transaction, the chief executive officer directly owned 58,447 shares in the company, valued at $4,488,729.60. This represents a 22.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, March 4th, Katherine Stueland sold 25,459 shares of GeneDx stock. The shares were sold at an average price of $78.61, for a total transaction of $2,001,331.99.
• On Thursday, January 29th, Katherine Stueland sold 1,653 shares of GeneDx stock. The stock was sold at an average price of $94.00, for a total transaction of $155,382.00.

GeneDx Price Performance

NASDAQ:WGS traded down $0.61 on Tuesday, reaching $75.50. 622,092 shares of the company’s stock traded hands, compared to its average volume of 799,978. The stock has a 50-day simple moving average of $95.16 and a 200-day simple moving average of $120.38. GeneDx Holdings Corp. has a 12 month low of $55.17 and a 12 month high of $170.87. The firm has a market cap of $2.21 billion, a PE ratio of 53.98 and a beta of 2.03. The company has a quick ratio of 2.34, a current ratio of 2.46 and a debt-to-equity ratio of 0.16.

GeneDx (NASDAQ:WGS) last released its earnings results on Monday, February 23rd. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. GeneDx had a positive return on equity of 14.73% and a negative net margin of 4.92%.The firm had revenue of $120.99 million during the quarter, compared to analysts’ expectations of $120.80 million. Equities research analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Hedge Funds Weigh In On GeneDx

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in shares of GeneDx by 4.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,220,502 shares of the company’s stock worth $158,738,000 after buying an additional 52,322 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of GeneDx by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 1,189,069 shares of the company’s stock valued at $154,650,000 after acquiring an additional 18,647 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of GeneDx by 60.4% in the 4th quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company’s stock valued at $142,154,000 after acquiring an additional 411,607 shares during the last quarter. Westfield Capital Management Co. LP grew its position in GeneDx by 87.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock worth $132,435,000 after acquiring an additional 474,167 shares in the last quarter. Finally, Invesco Ltd. grew its position in GeneDx by 59.2% in the fourth quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock worth $102,288,000 after acquiring an additional 292,394 shares in the last quarter. Institutional investors own 61.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on WGS shares. Wells Fargo & Company upgraded shares of GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 target price for the company in a research report on Monday, February 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of GeneDx from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Zacks Research raised GeneDx from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 25th. Finally, Jefferies Financial Group set a $150.00 target price on GeneDx in a research report on Monday, February 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $150.71.

About GeneDx

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.