GeneDx (NASDAQ:WGS) CEO Katherine Stueland Sells 10,501 Shares

GeneDx Holdings Corp. (NASDAQ:WGS) CEO Katherine Stueland sold 10,501 shares of GeneDx stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $97.61, for a total value of $1,025,002.61. Following the completion of the sale, the chief executive officer owned 115,476 shares of the company’s stock, valued at $11,271,612.36. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 Wednesday, September 9th, Katherine Stueland sold 3,692 shares of GeneDx stock. The stock was sold at an average price of $84.22, for a total transaction of $310,940.24.

GeneDx Stock Down 3.7%

NASDAQ WGS traded down $3.85 during trading on Friday, reaching $101.10. 682,042 shares of the company’s stock traded hands, compared to its average volume of 932,933. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.30 and a quick ratio of 3.06. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of -27.77 and a beta of 1.99. The company’s 50 day simple moving average is $77.02 and its two-hundred day simple moving average is $67.10. GeneDx Holdings Corp. has a 12-month low of $32.21 and a 12-month high of $170.87.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.20. GeneDx had a negative net margin of 23.41% and a positive return on equity of 4.12%. The firm had revenue of $114.44 million during the quarter, compared to analysts’ expectations of $111.01 million. During the same quarter in the prior year, the company earned $0.36 EPS. As a group, sell-side analysts forecast that GeneDx Holdings Corp. will post -0.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. BTIG Research reiterated a “buy” rating and issued a $90.00 price target on shares of GeneDx in a report on Tuesday, August 4th. Wall Street Zen upgraded GeneDx from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. TD Cowen reaffirmed a “buy” rating on shares of GeneDx in a research report on Wednesday, July 15th. Guggenheim reissued a “buy” rating and issued a $74.00 price objective (up from $70.00) on shares of GeneDx in a research report on Monday, June 29th. Finally, Canaccord Genuity Group boosted their target price on GeneDx from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, GeneDx has an average rating of “Moderate Buy” and an average target price of $89.57.

Institutional Trading of GeneDx

Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its holdings in shares of GeneDx by 4.5% in the fourth 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 during the last quarter. Franklin Resources Inc. grew its holdings in shares of GeneDx by 60.4% during the fourth quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company’s stock valued at $142,154,000 after buying an additional 411,607 shares during the last quarter. Westfield Capital Management Co. LP increased its position in shares of GeneDx by 87.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock valued at $132,435,000 after acquiring an additional 474,167 shares during the period. Geode Capital Management LLC increased its position in shares of GeneDx by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 504,567 shares of the company’s stock valued at $65,635,000 after acquiring an additional 15,170 shares during the period. Finally, First Light Asset Management LLC raised its stake in GeneDx by 222.7% in the 2nd quarter. First Light Asset Management LLC now owns 783,923 shares of the company’s stock worth $53,816,000 after acquiring an additional 540,996 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

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.