GeneDx (NASDAQ:WGS) CEO Katherine Stueland Sells 3,692 Shares of Stock

Key Points

• GeneDx CEO Katherine Stueland sold 3,692 shares at an average price of $84.22, totaling approximately $310,940. The sale was intended to cover tax withholding tied to vested equity awards, leaving her with 107,227 shares.
• GeneDx shares traded at $85.02, near the company’s 12-month range of $32.21 to $170.87. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.01 in EPS and $114.44 million in revenue.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $89.57. Institutional investors own approximately 61.72% of GeneDx’s outstanding shares.

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) CEO Katherine Stueland sold 3,692 shares of GeneDx stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $84.22, for a total transaction of $310,940.24. Following the completion of the sale, the chief executive officer owned 107,227 shares of the company's stock, valued at $9,030,657.94. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, June 16th, Katherine Stueland sold 10,501 shares of GeneDx stock. The shares were sold at an average price of $60.77, for a total transaction of $638,145.77.

GeneDx Stock Performance

GeneDx stock traded up $1.06 during midday trading on Friday, reaching $85.02. 331,591 shares of the company traded hands, compared to its average volume of 938,779. GeneDx Holdings Corp. has a 12 month low of $32.21 and a 12 month high of $170.87. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.30 and a quick ratio of 3.06. The business has a 50 day moving average of $74.31 and a two-hundred day moving average of $66.65. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of -23.36 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 EPS for the quarter, topping analysts' consensus estimates of ($0.19) by $0.20. The business had revenue of $114.44 million during the quarter, compared to the consensus estimate 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 EPS. As a group, research analysts predict that GeneDx Holdings Corp. will post -0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on WGS shares. Piper Sandler reiterated an "overweight" rating and set a $63.00 price objective (up from $50.00) on shares of GeneDx in a research report on Tuesday, June 23rd. Zacks Research raised GeneDx from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 26th. Canaccord Genuity Group boosted their price target on GeneDx from $75.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. TD Cowen reaffirmed a "buy" rating on shares of GeneDx in a research report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of GeneDx from a "sell (e+)" rating to a "sell (d)" rating in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $89.57.

Institutional Investors Weigh In On GeneDx

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in GeneDx by 30.2% during the first quarter. Royal Bank of Canada now owns 29,479 shares of the company's stock valued at $2,611,000 after purchasing an additional 6,840 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of GeneDx by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company's stock worth $677,000 after buying an additional 453 shares during the period. NewEdge Advisors LLC raised its stake in shares of GeneDx by 270,700.0% in the first quarter. NewEdge Advisors LLC now owns 2,708 shares of the company's stock worth $240,000 after buying an additional 2,707 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of GeneDx by 67.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,224 shares of the company's stock valued at $2,500,000 after buying an additional 11,375 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in shares of GeneDx during the 2nd quarter valued at about $249,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.