Key Points
- GeneDx CEO Katherine Stueland sold 3,692 shares at an average price of $84.22, generating $310,940.24. The sale reduced her ownership by 3.33% and was made to cover tax withholding tied to vested equity awards.
- GeneDx reported quarterly revenue of $114.44 million and EPS of $0.01, beating analysts’ expectations for $111.01 million in revenue and a $0.19 per-share loss.
- Analysts maintain a generally positive view, with GeneDx receiving a “Moderate Buy” consensus rating and an average price target of $89.57; institutional investors own 61.72% of the company.
GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) CFO Kevin Feeley sold 1,285 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $84.22, for a total transaction of $108,222.70. Following the sale, the chief financial officer directly owned 41,476 shares of the company's stock, valued at approximately $3,493,108.72. This trade represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Tuesday, June 16th, Kevin Feeley sold 3,729 shares of GeneDx stock. The stock was sold at an average price of $60.77, for a total transaction of $226,611.33.
GeneDx Price Performance
WGS stock opened at $85.26 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.06 and a current ratio of 3.30. The company's fifty day moving average price is $74.67 and its 200-day moving average price is $66.78. GeneDx Holdings Corp. has a one year low of $32.21 and a one year high of $170.87. The company has a market capitalization of $2.54 billion, a PE ratio of -23.42 and a beta of 1.99.
GeneDx (NASDAQ:WGS - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.20. The company had revenue of $114.44 million during the quarter, compared to analysts' expectations of $111.01 million. GeneDx had a negative net margin of 23.41% and a positive return on equity of 4.12%. During the same period last year, the company posted $0.36 earnings per share. On average, equities analysts anticipate that GeneDx Holdings Corp. will post -0.41 EPS for the current fiscal year.
Institutional Trading of GeneDx
Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE raised its position in GeneDx by 77.5% during the first quarter. Bank of America Corp DE now owns 234,606 shares of the company's stock valued at $15,066,000 after purchasing an additional 102,456 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of GeneDx by 65.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 633,457 shares of the company's stock worth $40,681,000 after purchasing an additional 251,732 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of GeneDx by 4.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,220,502 shares of the company's stock worth $158,738,000 after purchasing an additional 52,322 shares during the period. Lazard Asset Management LLC bought a new position in shares of GeneDx during the 1st quarter valued at approximately $2,177,000. Finally, Bank of New York Mellon Corp raised its holdings in GeneDx by 38.6% during the 1st quarter. Bank of New York Mellon Corp now owns 315,508 shares of the company's stock valued at $20,262,000 after buying an additional 87,922 shares during the period. 61.72% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
WGS has been the topic of several research reports. TD Cowen reaffirmed a "buy" rating on shares of GeneDx in a report on Wednesday, July 15th. Canaccord Genuity Group raised their price target on GeneDx from $75.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. BTIG Research reaffirmed a "buy" rating and issued a $90.00 price objective on shares of GeneDx in a research note on Tuesday, August 4th. Weiss Ratings raised GeneDx from a "sell (e+)" rating to a "sell (d)" rating in a report on Tuesday, August 4th. Finally, Guggenheim reiterated a "buy" rating and set a $74.00 target price (up from $70.00) on shares of GeneDx in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, GeneDx currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.57.
Read Our Latest Stock Analysis on WGS
GeneDx Company Profile
(
Get Free Report)
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.
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