Kevin Feeley Sells 392 Shares of GeneDx (NASDAQ:WGS) Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CFO Kevin Feeley sold 392 shares of the company’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $65.19, for a total value of $25,554.48. Following the completion of the transaction, the chief financial officer owned 34,942 shares of the company’s stock, valued at $2,277,868.98. The trade was a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 Monday, March 16th, Kevin Feeley sold 5,706 shares of GeneDx stock. The shares were sold at an average price of $76.80, for a total value of $438,220.80.
• On Wednesday, March 4th, Kevin Feeley sold 6,187 shares of GeneDx stock. The shares were sold at an average price of $78.61, for a total value of $486,360.07.

GeneDx Stock Performance

Shares of NASDAQ:WGS opened at $65.38 on Friday. The firm has a market capitalization of $1.91 billion, a PE ratio of -87.17 and a beta of 2.06. 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 business has a 50-day moving average of $71.45 and a two-hundred day moving average of $107.27. GeneDx Holdings Corp. has a 12 month low of $55.17 and a 12 month high of $170.87.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data 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. GeneDx had a positive return on equity of 14.73% and a negative net margin of 4.92%.The business had revenue of $120.99 million for the quarter, compared to analyst estimates of $120.80 million. As a group, research analysts forecast that GeneDx Holdings Corp. will post 0.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WGS. Piper Sandler reiterated an “overweight” rating and set a $130.00 target price (down from $160.00) on shares of GeneDx in a report on Tuesday, February 24th. Wall Street Zen cut GeneDx from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. BTIG Research decreased their target price on GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Zacks Research cut GeneDx from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Finally, Jefferies Financial Group set a $150.00 target price on GeneDx in a report on Monday, February 23rd. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.17.

Institutional Investors Weigh In On GeneDx

Large investors have recently modified their holdings of the stock. ARK Investment Management LLC bought a new stake in GeneDx during the 3rd quarter valued at $48,157,000. Principal Financial Group Inc. raised its stake in GeneDx by 340.4% during the 3rd quarter. Principal Financial Group Inc. now owns 59,624 shares of the company’s stock valued at $6,424,000 after acquiring an additional 46,085 shares in the last quarter. Impax Asset Management Group plc bought a new stake in GeneDx during the 3rd quarter valued at $5,387,000. Telemark Asset Management LLC bought a new stake in GeneDx during the 3rd quarter valued at $12,929,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in GeneDx by 30.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 381,725 shares of the company’s stock valued at $49,647,000 after acquiring an additional 89,470 shares in the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.