GeneDx (NASDAQ:WGS) Shares Gap Down Following Insider Selling

GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report)'s stock price gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $30.07, but opened at $25.85. GeneDx shares last traded at $27.23, with a volume of 25,870 shares. Specifically, Director Casdin Capital, Llc bought 50,000 shares of GeneDx stock in a transaction dated Monday, May 13th. The stock was purchased at an average price of $23.31 per share, for a total transaction of $1,165,500.00. Following the completion of the purchase, the director now directly owns 2,753,509 shares of the company's stock, valued at $64,184,294.79. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Katherine Stueland sold 2,652 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $24.92, for a total transaction of $66,087.84. Following the sale, the chief executive officer now owns 79,763 shares of the company's stock, valued at approximately $1,987,693.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Casdin Capital, Llc bought 50,000 shares of GeneDx stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $23.31 per share, with a total value of $1,165,500.00. Following the acquisition, the director now directly owns 2,753,509 shares in the company, valued at $64,184,294.79. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 175,804 shares of company stock worth $3,771,670 and have sold 490,343 shares worth $15,701,354. Corporate insiders own 28.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of GeneDx from $28.00 to $32.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Jefferies Financial Group initiated coverage on GeneDx in a research report on Monday, June 3rd. They issued a "hold" rating and a $21.00 price objective on the stock. Craig Hallum boosted their target price on GeneDx from $43.00 to $46.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. TD Cowen upped their target price on GeneDx from $46.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Finally, BTIG Research lifted their price target on GeneDx from $35.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, GeneDx presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.80.

Get Our Latest Stock Report on GeneDx

GeneDx Trading Down 5.3 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.38 and a quick ratio of 2.99. The stock has a 50 day moving average of $28.43 and a 200 day moving average of $16.70. The firm has a market cap of $743.64 million, a P/E ratio of -5.81 and a beta of 2.29.

Hedge Funds Weigh In On GeneDx

Several institutional investors have recently modified their holdings of the company. Rhumbline Advisers lifted its stake in shares of GeneDx by 8,096.4% in the 2nd quarter. Rhumbline Advisers now owns 18,360 shares of the company's stock valued at $480,000 after purchasing an additional 18,136 shares during the period. nVerses Capital LLC purchased a new position in GeneDx during the second quarter valued at $50,000. Bank of New York Mellon Corp bought a new stake in shares of GeneDx during the 2nd quarter valued at $991,000. Calamos Advisors LLC purchased a new position in GeneDx during the 2nd quarter valued at about $1,137,000. Finally, Assenagon Asset Management S.A. purchased a new stake in GeneDx in the second quarter worth about $9,575,000. 61.72% of the stock is currently owned by institutional investors.

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.

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