GeneDx Target of Unusually Large Options Trading (NASDAQ:WGS)

GeneDx Holdings Corp. (NASDAQ:WGS) saw some unusual options trading activity on Wednesday. Traders acquired 2,566 put options on the company. This is an increase of 220% compared to the typical volume of 802 put options.

GeneDx Stock Performance

Shares of NASDAQ WGS opened at $67.18 on Thursday. GeneDx has a 1 year low of $3.66 and a 1 year high of $98.87. The firm has a market cap of $1.85 billion, a P/E ratio of -21.60 and a beta of 2.01. The stock has a fifty day moving average price of $77.66 and a two-hundred day moving average price of $58.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40.

Insider Buying and Selling at GeneDx

In other news, major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $70.78, for a total transaction of $8,973,629.96. Following the transaction, the insider now owns 2,719,692 shares of the company’s stock, valued at approximately $192,499,799.76. This trade represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jason Ryan sold 31,510 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $71.28, for a total value of $2,246,032.80. Following the transaction, the director now directly owns 15,490 shares in the company, valued at approximately $1,104,127.20. This represents a 67.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 363,669 shares of company stock valued at $28,061,081 in the last ninety days. Insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Fred Alger Management LLC acquired a new stake in shares of GeneDx during the 3rd quarter valued at $16,731,000. Geode Capital Management LLC raised its position in shares of GeneDx by 8.7% during the third quarter. Geode Capital Management LLC now owns 377,631 shares of the company’s stock worth $16,030,000 after purchasing an additional 30,379 shares during the period. State Street Corp lifted its holdings in shares of GeneDx by 18.3% during the third quarter. State Street Corp now owns 314,914 shares of the company’s stock valued at $13,365,000 after purchasing an additional 48,735 shares during the last quarter. Millennium Management LLC boosted its position in shares of GeneDx by 193.5% in the 2nd quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock valued at $8,140,000 after purchasing an additional 205,318 shares during the period. Finally, Zweig DiMenna Associates LLC purchased a new position in GeneDx in the 4th quarter worth about $23,788,000. Institutional investors own 61.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their price objective on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. TD Cowen raised their price target on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, Craig Hallum increased their price objective on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.67.

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.