GeneDx (NASDAQ:WGS) CEO Katherine Stueland Sells 46,933 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CEO Katherine Stueland sold 46,933 shares of GeneDx stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $63.17, for a total value of $2,964,757.61. Following the transaction, the chief executive officer owned 91,514 shares in the company, valued at approximately $5,780,939.38. This represents a 33.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Katherine Stueland also recently made the following trade(s):

• On Monday, March 16th, Katherine Stueland sold 17,179 shares of GeneDx stock. The shares were sold at an average price of $76.80, for a total transaction of $1,319,347.20.
• On Wednesday, March 4th, Katherine Stueland sold 25,459 shares of GeneDx stock. The stock was sold at an average price of $78.61, for a total transaction of $2,001,331.99.
• On Thursday, January 29th, Katherine Stueland sold 1,653 shares of GeneDx stock. The stock was sold at an average price of $94.00, for a total transaction of $155,382.00.

GeneDx Price Performance

Shares of WGS stock opened at $66.20 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.46 and a quick ratio of 2.34. The company has a market capitalization of $1.94 billion, a PE ratio of -88.27 and a beta of 2.17. The firm’s 50-day moving average is $82.46 and its two-hundred day moving average is $114.99. GeneDx Holdings Corp. has a 12 month low of $55.17 and a 12 month high of $170.87.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Monday, February 23rd. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate 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 negative net margin of 4.92% and a positive return on equity of 14.73%. Analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Institutional Investors Weigh In On GeneDx

Institutional investors have recently modified their holdings of the company. Westfield Capital Management Co. LP lifted its stake in GeneDx by 87.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock worth $132,435,000 after acquiring an additional 474,167 shares in the last quarter. ARK Investment Management LLC acquired a new position in GeneDx in the 3rd quarter valued at about $48,157,000. Franklin Resources Inc. increased its stake in GeneDx by 60.4% during the fourth quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company’s stock worth $142,154,000 after purchasing an additional 411,607 shares during the period. Invesco Ltd. increased its stake in GeneDx by 59.2% during the fourth quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock worth $102,288,000 after purchasing an additional 292,394 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of GeneDx during the third quarter worth about $31,488,000. 61.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Jefferies Financial Group set a $150.00 target price on GeneDx in a research report on Monday, February 23rd. Wall Street Zen cut shares of GeneDx from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. BTIG Research lowered their target price on shares of GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, January 21st. Finally, Zacks Research raised shares of GeneDx from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $140.71.

GeneDx Company Profile

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.