Insider Selling: GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells 50,000 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder Opko Health, Inc. sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $32.61, for a total value of $1,630,500.00. Following the sale, the insider now owns 3,333,403 shares in the company, valued at $108,702,271.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, July 19th, Opko Health, Inc. sold 25,000 shares of GeneDx stock. The shares were 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 shares were 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 value of $1,019,972.32.
• On Wednesday, July 3rd, Opko Health, Inc. sold 14,082 shares of GeneDx stock. The shares were sold at an average price of $28.23, for a total value of $397,534.86.
• On Monday, July 1st, Opko Health, Inc. sold 50,000 shares of GeneDx stock. The shares were sold at an average price of $26.63, for a total value of $1,331,500.00.

GeneDx Trading Up 2.3 %

NASDAQ:WGS traded up $0.76 during midday trading on Tuesday, hitting $33.28. The stock had a trading volume of 386,688 shares, compared to its average volume of 390,312. GeneDx Holdings Corp. has a one year low of $1.16 and a one year high of $35.65. The company has a market capitalization of $869.27 million, a price-to-earnings ratio of -6.37 and a beta of 2.29. The stock has a 50-day moving average of $26.42 and a 200 day moving average of $14.88. The company has a quick ratio of 2.99, a current ratio of 3.22 and a debt-to-equity ratio of 0.25.

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

Institutional Trading of GeneDx

Hedge funds have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. lifted its holdings in shares of GeneDx by 99.4% during the 4th quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock valued at $55,000 after purchasing an additional 9,944 shares during the last quarter. PFG Investments LLC purchased a new stake in shares of GeneDx during the 1st quarter valued at $95,000. Decheng Capital LLC purchased a new stake in shares of GeneDx during the 4th quarter valued at $285,000. Legal Advantage Investments Inc. purchased a new stake in shares of GeneDx during the 2nd quarter valued at $518,000. Finally, Gagnon Advisors LLC lifted its holdings in shares of GeneDx by 41.6% during the 1st quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock valued at $1,930,000 after purchasing an additional 62,059 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on WGS. TD Cowen upped their target price on GeneDx from $14.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Craig Hallum began coverage on GeneDx in a research note on Wednesday, July 10th. They set a “buy” rating and a $43.00 target price on the stock. Jefferies Financial Group assumed coverage on GeneDx in a research note on Monday, June 3rd. They set a “hold” rating and a $21.00 target price on the stock. BTIG Research increased their price objective on GeneDx from $19.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, The Goldman Sachs Group increased their price objective on GeneDx from $12.50 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.20.

About GeneDx

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.