Insider Selling: GeneDx (NASDAQ:WGS) CFO Sells $363,890.08 in Stock

Key Points

• GeneDx CFO Kevin Feeley sold 3,728 shares for approximately $363,890 at an average price of $97.61, reducing his holdings by 7.66%. The sale was made to cover tax withholding tied to vested equity awards.
• GeneDx shares traded at $101.10, with the stock substantially above its 50-day moving average of $77.02 and 200-day moving average of $67.10. The company has a $3.02 billion market capitalization and a 52-week range of $32.21 to $170.87.
• The company exceeded quarterly earnings expectations, reporting $0.01 in EPS versus the estimated loss of $0.19 and revenue of $114.44 million. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $89.57.

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) CFO Kevin Feeley sold 3,728 shares of the company's stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $97.61, for a total transaction of $363,890.08. Following the completion of the sale, the chief financial officer 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Stock Performance

NASDAQ WGS traded down $3.85 during trading on Friday, reaching $101.10. The company's stock had a trading volume of 682,042 shares, compared to its average volume of 932,933. The business's fifty day moving average price is $77.02 and its 200-day moving average price is $67.10. GeneDx Holdings Corp. has a twelve month low of $32.21 and a twelve month high of $170.87. 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 firm has a market cap of $3.02 billion, a price-to-earnings ratio of -27.77 and a beta of 1.99.

GeneDx (NASDAQ:WGS - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.19) by $0.20. The firm had revenue of $114.44 million for the quarter, compared to analyst estimates of $111.01 million. GeneDx had a positive return on equity of 4.12% and a negative net margin of 23.41%.During the same quarter last year, the company posted $0.36 earnings per share. As a group, analysts anticipate that GeneDx Holdings Corp. will post -0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On GeneDx

A number of large investors have recently modified their holdings of WGS. Goldman Sachs Group Inc. lifted 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 valued at $158,738,000 after buying an additional 52,322 shares during the period. Franklin Resources Inc. raised its position in GeneDx by 60.4% in the fourth quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company's stock worth $142,154,000 after acquiring an additional 411,607 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in GeneDx by 87.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company's stock valued at $132,435,000 after acquiring an additional 474,167 shares during the period. Geode Capital Management LLC lifted its holdings in GeneDx by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 504,567 shares of the company's stock valued at $65,635,000 after acquiring an additional 15,170 shares during the period. Finally, First Light Asset Management LLC grew its stake 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 worth $53,816,000 after purchasing an additional 540,996 shares during the period. 61.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WGS has been the topic of a number of recent research reports. Zacks Research raised GeneDx from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 26th. TD Cowen reaffirmed a "buy" rating on shares of GeneDx in a report on Wednesday, July 15th. BTIG Research reiterated a "buy" rating and issued a $90.00 price objective on shares of GeneDx in a research report on Tuesday, August 4th. Guggenheim reissued a "buy" rating and issued a $74.00 price objective (up from $70.00) on shares of GeneDx in a research note on Monday, June 29th. Finally, Piper Sandler restated 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. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $89.57.

About GeneDx

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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