Kevin Feeley Sells 5,706 Shares of GeneDx (NASDAQ:WGS) Stock

GeneDx Holdings Corp. (NASDAQ:WGS) CFO Kevin Feeley sold 5,706 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $76.80, for a total value of $438,220.80. Following the sale, the chief financial officer owned 27,148 shares of the company’s stock, valued at approximately $2,084,966.40. The trade was a 17.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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.
• On Thursday, January 29th, Kevin Feeley sold 317 shares of GeneDx stock. The shares were sold at an average price of $93.99, for a total transaction of $29,794.83.

GeneDx Stock Down 0.8%

WGS stock traded down $0.61 during midday trading on Tuesday, reaching $75.50. 622,092 shares of the company were exchanged, compared to its average volume of 799,978. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 53.98 and a beta of 2.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.34 and a current ratio of 2.46. GeneDx Holdings Corp. has a 1-year low of $55.17 and a 1-year high of $170.87. The stock’s 50-day simple moving average is $95.16 and its 200 day simple moving average is $120.38.

GeneDx (NASDAQ:WGS) last issued its earnings results on Monday, February 23rd. The company reported $0.14 earnings per share (EPS) 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%. On average, equities analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WGS. Canaccord Genuity Group raised their price objective on GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Zacks Research raised GeneDx from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 25th. Wells Fargo & Company upgraded GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price target on the stock in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, January 21st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $130.00 price objective (down from $160.00) on shares of GeneDx in a research note on Tuesday, February 24th. One investment 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $150.71.

Hedge Funds Weigh In On GeneDx

Several institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd increased its position in GeneDx by 3,704.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 837 shares of the company’s stock valued at $109,000 after acquiring an additional 815 shares during the period. Invesco Ltd. lifted its position in GeneDx by 59.2% during the 4th quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock worth $102,288,000 after acquiring an additional 292,394 shares during the period. Beacon Pointe Advisors LLC purchased a new position in shares of GeneDx in the 4th quarter valued at approximately $208,000. Regal Partners Ltd grew its stake in shares of GeneDx by 180.0% in the 4th quarter. Regal Partners Ltd now owns 7,000 shares of the company’s stock valued at $910,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of GeneDx in the fourth quarter valued at approximately $73,000. 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.