Insider Selling: GeneDx (NASDAQ:WGS) CFO Sells $438,220.80 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CFO Kevin Feeley sold 5,706 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $76.80, for a total transaction of $438,220.80. Following the completion of the transaction, the chief financial officer owned 27,148 shares in the company, valued at $2,084,966.40. This represents a 17.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, March 4th, Kevin Feeley sold 6,187 shares of GeneDx stock. The stock was sold at an average price of $78.61, for a total transaction of $486,360.07.
• On Thursday, January 29th, Kevin Feeley sold 317 shares of GeneDx stock. The shares were sold at an average price of $93.99, for a total transaction of $29,794.83.

GeneDx Stock Performance

WGS stock opened at $73.00 on Friday. The business’s fifty day moving average is $91.35 and its 200-day moving average is $119.33. The company has a quick ratio of 2.34, a current ratio of 2.46 and a debt-to-equity ratio of 0.16. The company has a market cap of $2.14 billion, a P/E ratio of -97.33 and a beta of 2.03. GeneDx Holdings Corp. has a twelve month low of $55.17 and a twelve month high of $170.87.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $120.99 million during the quarter, compared to analysts’ expectations of $120.80 million. GeneDx had a positive return on equity of 14.73% and a negative net margin of 4.92%. Equities research analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WGS shares. Piper Sandler reaffirmed an “overweight” rating and issued a $130.00 price target (down from $160.00) on shares of GeneDx in a research note on Tuesday, February 24th. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, January 21st. Canaccord Genuity Group boosted their price objective on shares of GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Wall Street Zen downgraded shares of GeneDx from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Finally, Wells Fargo & Company upgraded shares of GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 target price on the stock in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $150.71.

Institutional Investors Weigh In On GeneDx

A number of hedge funds have recently modified their holdings of WGS. Jones Financial Companies Lllp grew its position in shares of GeneDx by 664.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after purchasing an additional 186 shares during the period. Kestra Advisory Services LLC acquired a new stake in GeneDx during the 4th quarter worth approximately $27,000. Quarry LP raised its holdings in GeneDx by 248.8% during the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after buying an additional 209 shares during the period. Ramirez Asset Management Inc. bought a new position in GeneDx in the fourth quarter valued at approximately $33,000. Finally, Greenline Wealth Management LLC acquired a new position in shares of GeneDx in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

About GeneDx

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.