Kevin Feeley Sells 388 Shares of GeneDx Holdings Corp. (NASDAQ:WGS) Stock

Key Points

• Kevin Feeley, CFO of GeneDx Holdings Corp., sold 388 shares of the company's stock at an average price of $105.31, totaling approximately $40,860.28, which lowered his ownership in the company by 9.36%.
• GeneDx reported a strong quarterly earnings result with an EPS of $0.50, exceeding the consensus estimate of $0.10, and generated revenue of $102.69 million, surpassing expectations of $86.00 million.
• Several institutional investors have significantly increased their stakes in GeneDx, with William Blair Investment Management LLC boosting its position by 37.2%, now holding shares worth approximately $150.6 million.

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) CFO Kevin Feeley sold 388 shares of GeneDx stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $105.31, for a total value of $40,860.28. Following the sale, the chief financial officer directly owned 3,757 shares in the company, valued at $395,649.67. The trade was a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Kevin Feeley also recently made the following trade(s):

• On Wednesday, July 9th, Kevin Feeley sold 5,278 shares of GeneDx stock. The stock was sold at an average price of $93.00, for a total value of $490,854.00.
• On Tuesday, July 1st, Kevin Feeley sold 1,344 shares of GeneDx stock. The shares were sold at an average price of $91.12, for a total value of $122,465.28.
• On Monday, June 2nd, Kevin Feeley sold 370 shares of GeneDx stock. The stock was sold at an average price of $71.26, for a total value of $26,366.20.

GeneDx Stock Up 2.7%

WGS stock traded up $2.79 during trading hours on Monday, reaching $104.39. 214,995 shares of the stock were exchanged, compared to its average volume of 1,087,363. The firm's 50-day moving average is $80.02 and its 200-day moving average is $83.14. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 2,087.90 and a beta of 2.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.87 and a quick ratio of 2.70. GeneDx Holdings Corp. has a 12 month low of $25.32 and a 12 month high of $117.75.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.40. GeneDx had a return on equity of 16.51% and a net margin of 0.39%. The business had revenue of $102.69 million during the quarter, compared to analysts' expectations of $86.00 million. On average, equities research analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Institutional Investors Weigh In On GeneDx

Several hedge funds have recently bought and sold shares of WGS. Jennison Associates LLC grew its stake in shares of GeneDx by 6,163.1% in the 2nd quarter. Jennison Associates LLC now owns 397,896 shares of the company's stock valued at $36,730,000 after buying an additional 391,543 shares during the period. Peregrine Capital Management LLC bought a new stake in GeneDx during the 2nd quarter valued at $7,917,000. Y Intercept Hong Kong Ltd bought a new stake in GeneDx during the 2nd quarter valued at $589,000. Envestnet Asset Management Inc. increased its holdings in shares of GeneDx by 63.9% in the second quarter. Envestnet Asset Management Inc. now owns 14,942 shares of the company's stock worth $1,379,000 after purchasing an additional 5,823 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of GeneDx in the second quarter worth $236,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on WGS shares. TD Securities cut their price target on GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen raised GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday. Guggenheim reissued a "buy" rating and issued a $115.00 price target (up previously from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Jefferies Financial Group raised GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research note on Friday, May 9th. Finally, Piper Sandler started coverage on GeneDx in a research note on Wednesday, July 9th. They issued an "overweight" rating and a $110.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.38.

About GeneDx

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.