GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells $807,250.00 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder Opko Health, Inc. sold 25,000 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $32.29, for a total transaction of $807,250.00. Following the sale, the insider now owns 3,383,403 shares of the company’s stock, valued at $109,250,082.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, July 22nd, Opko Health, Inc. sold 50,000 shares of GeneDx stock. The shares were sold at an average price of $32.61, for a total value of $1,630,500.00.
• On Wednesday, July 17th, Opko Health, Inc. sold 25,000 shares of GeneDx stock. The stock was 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 stock was sold at an average price of $28.24, for a total transaction 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 transaction of $397,534.86.
• On Monday, July 1st, Opko Health, Inc. sold 50,000 shares of GeneDx stock. The stock was sold at an average price of $26.63, for a total transaction of $1,331,500.00.

GeneDx Stock Performance

Shares of WGS stock opened at $32.72 on Friday. The company’s fifty day moving average price is $27.09 and its 200-day moving average price is $15.34. The stock has a market cap of $854.65 million, a PE ratio of -6.32 and a beta of 2.29. The company has a current ratio of 3.22, a quick ratio of 2.99 and a debt-to-equity ratio of 0.25. GeneDx Holdings Corp. has a 12 month low of $1.16 and a 12 month high of $35.65.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Monday, April 29th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.35. The business had revenue of $62.42 million for the quarter, compared to analyst estimates of $49.80 million. GeneDx had a negative net margin of 60.86% and a negative return on equity of 36.23%. On average, equities analysts expect that GeneDx Holdings Corp. will post -0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WGS shares. TD Cowen raised their target price on GeneDx from $14.00 to $24.00 and gave the stock 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 initiated coverage on GeneDx in a report on Monday, June 3rd. They set a “hold” rating and a $21.00 target price for the company. BTIG Research lifted their target price on shares of GeneDx from $19.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, The Goldman Sachs Group raised their price objective on shares of GeneDx from $12.50 to $28.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.20.

Institutional Trading of GeneDx

A number of hedge funds have recently made changes to their positions in WGS. Decheng Capital LLC bought a new position in GeneDx during the 4th quarter valued at approximately $285,000. Thompson Davis & CO. Inc. increased its holdings in shares of GeneDx by 99.4% during the fourth quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock valued at $55,000 after acquiring an additional 9,944 shares in the last quarter. PFG Investments LLC purchased a new position in shares of GeneDx in the 1st quarter worth about $95,000. Bank of New York Mellon Corp bought a new position in GeneDx in the 2nd quarter worth about $991,000. Finally, Calamos Advisors LLC purchased a new stake in GeneDx during the 2nd quarter valued at about $1,137,000. 61.72% of the stock is owned by institutional investors.

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.