GeneDx (NASDAQ:WGS) CFO Sells $363,890.08 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CFO Kevin Feeley sold 3,728 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $97.61, for a total transaction of $363,890.08. Following the transaction, the chief financial officer owned 44,945 shares in the company, valued at $4,387,081.45. The trade was a 7.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kevin Feeley also recently made the following trade(s):

• On Wednesday, September 9th, Kevin Feeley sold 1,285 shares of GeneDx stock. The stock was sold at an average price of $84.22, for a total value of $108,222.70.

GeneDx Price Performance

NASDAQ WGS traded down $3.85 during mid-day trading on Friday, hitting $101.10. The stock had a trading volume of 682,042 shares, compared to its average volume of 932,933. The company has a 50 day simple moving average of $77.02 and a 200 day simple moving average of $67.10. The company has a market cap of $3.02 billion, a price-to-earnings ratio of -27.77 and a beta of 1.99. GeneDx Holdings Corp. has a 52-week low of $32.21 and a 52-week high of $170.87. The company has a quick ratio of 3.06, a current ratio of 3.30 and a debt-to-equity ratio of 0.40.

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

Analyst Upgrades and Downgrades

WGS has been the subject of several research reports. BTIG Research restated a “buy” rating and set a $90.00 price objective on shares of GeneDx in a research report on Tuesday, August 4th. Canaccord Genuity Group upped their price objective on GeneDx from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Wall Street Zen upgraded GeneDx from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research raised shares of GeneDx from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 26th. Finally, TD Cowen reaffirmed a “buy” rating on shares of GeneDx in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.57.

Institutional Trading of GeneDx

A number of hedge funds have recently added to or reduced their stakes in the business. Main Management ETF Advisors LLC boosted its position in shares of GeneDx by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 15,660 shares of the company’s stock worth $2,037,000 after acquiring an additional 160 shares during the last quarter. Strs Ohio increased its position in GeneDx by 8.7% during the first quarter. Strs Ohio now owns 2,500 shares of the company’s stock worth $161,000 after purchasing an additional 200 shares during the last quarter. Ramirez Asset Management Inc. acquired a new position in GeneDx during the fourth quarter worth approximately $33,000. ProShare Advisors LLC raised its stake in GeneDx by 8.0% during the fourth quarter. ProShare Advisors LLC now owns 3,467 shares of the company’s stock worth $451,000 after purchasing an additional 257 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in GeneDx by 12.9% during the first quarter. Pictet Asset Management Holding SA now owns 3,300 shares of the company’s stock worth $212,000 after purchasing an additional 378 shares during the period. 61.72% of the stock is owned by institutional investors and hedge funds.

GeneDx Company Profile

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.