GeneDx Holdings Corp. (NASDAQ:WGS) Major Shareholder Sells $64,935,000.00 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the completion of the transaction, the insider now directly owns 2,866,833 shares in the company, valued at approximately $215,012,475. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

GeneDx Stock Down 3.3 %

WGS traded down $2.58 during trading on Monday, hitting $75.16. The stock had a trading volume of 672,079 shares, compared to its average volume of 441,410. GeneDx Holdings Corp. has a twelve month low of $1.16 and a twelve month high of $89.11. The stock has a 50 day simple moving average of $47.44 and a two-hundred day simple moving average of $33.39. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.22 and a current ratio of 2.40. The company has a market capitalization of $2.02 billion, a PE ratio of -25.33 and a beta of 2.10.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.25. The firm had revenue of $76.90 million for the quarter, compared to the consensus estimate of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The company’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.82) earnings per share. On average, research analysts predict that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On GeneDx

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new stake in GeneDx during the 2nd quarter worth about $34,000. nVerses Capital LLC purchased a new position in shares of GeneDx in the second quarter worth about $50,000. CWM LLC acquired a new stake in shares of GeneDx during the third quarter worth about $89,000. SG Americas Securities LLC purchased a new stake in GeneDx in the third quarter valued at approximately $198,000. Finally, Palumbo Wealth Management LLC acquired a new position in GeneDx in the 3rd quarter worth approximately $287,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on WGS shares. Craig Hallum raised their price objective on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. BTIG Research upped their price objective on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their target price on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their price target on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, TD Cowen boosted their price objective on shares of GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.33.

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.