Key Points
- GeneDx CEO Katherine Stueland sold 10,501 shares at an average price of $97.61, totaling approximately $1.03 million. The sale covered tax-withholding obligations tied to vested equity awards and reduced her position by 8.34%.
- GeneDx reported quarterly EPS of $0.01, beating the $0.19 loss analysts expected, while revenue of $114.44 million exceeded estimates. The company remains unprofitable, with analysts forecasting full-year EPS of negative $0.41.
- WGS opened at $101.10 and has a consensus analyst rating of “Moderate Buy”, with an average price target of $89.57. Institutional investors and hedge funds own 61.72% of the company.
GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) CFO Kevin Feeley sold 3,728 shares of GeneDx stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $97.61, for a total value of $363,890.08. Following the completion of the sale, the chief financial officer directly owned 44,945 shares of the company's stock, valued at approximately $4,387,081.45. This trade represents a 7.66% decrease in their position. The sale was disclosed in a legal filing 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 shares were sold at an average price of $84.22, for a total transaction of $108,222.70.
GeneDx Price Performance
Shares of NASDAQ:WGS opened at $101.10 on Friday. The firm has a market capitalization of $3.01 billion, a PE ratio of -27.77 and a beta of 1.99. The company has a quick ratio of 3.06, a current ratio of 3.30 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $77.73 and a two-hundred day moving average price of $67.34. GeneDx Holdings Corp. has a twelve month low of $32.21 and a twelve month high of $170.87.
GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.20. The company had revenue of $114.44 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $0.36 earnings per share. Equities analysts forecast that GeneDx Holdings Corp. will post -0.41 EPS for the current year.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. BTIG Research restated a "buy" rating and set a $90.00 target price on shares of GeneDx in a research report on Tuesday, August 4th. Canaccord Genuity Group lifted their price target on GeneDx from $75.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Piper Sandler reiterated an "overweight" rating and set a $63.00 price objective (up from $50.00) on shares of GeneDx in a research note on Tuesday, June 23rd. Wall Street Zen raised GeneDx from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Finally, TD Cowen restated a "buy" rating on shares of GeneDx in a research note on Wednesday, July 15th. One equities research 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.57.
Read Our Latest Stock Analysis on WGS
Institutional Trading of GeneDx
A number of hedge funds have recently made changes to their positions in WGS. First Light Asset Management LLC raised its holdings in shares of GeneDx by 222.7% during the 2nd quarter. First Light Asset Management LLC now owns 783,923 shares of the company's stock valued at $53,816,000 after buying an additional 540,996 shares in the last quarter. Nykredit A S bought a new position in GeneDx during the second quarter valued at approximately $38,000. Corient Private Wealth LP bought a new position in GeneDx during the second quarter valued at approximately $3,066,000. AlphaGrep UK Ltd purchased a new position in shares of GeneDx during the second quarter worth approximately $238,000. Finally, Wellington Management Group LLP raised its stake in shares of GeneDx by 2.0% during the second quarter. Wellington Management Group LLP now owns 347,927 shares of the company's stock worth $23,885,000 after acquiring an additional 6,922 shares in the last quarter. 61.72% of the stock is owned by institutional investors.
About GeneDx
(
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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