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In recent transactions reported by GeneDx Holdings Corp. (NASDAQ:WGS), a healthcare diagnostics company with a market capitalization of $2.45 billion, CEO Katherine Stueland sold a significant portion of her shares. According to a filing with the Securities and Exchange Commission, Stueland sold 2,731 shares of GeneDx’s Class A Common Stock on March 10, 2025. The shares were sold at a weighted average price of $94.7254, resulting in total proceeds of approximately $258,695. InvestingPro data shows the stock has delivered an impressive 839% return over the past year, though it recently experienced an 12% decline in the past week.
The sale was conducted to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs). These RSUs, which were previously acquired at no cost, represent a contingent right to receive shares of GeneDx’s Class A Common Stock. According to InvestingPro analysis, the company maintains strong financial health with a current ratio of 3.61, indicating robust liquidity. Analysts have set price targets ranging from $80 to $135, suggesting potential upside from current levels.
Following these transactions, Stueland holds 7,752 shares of the company’s stock directly. The sales were part of a "sell to cover" transaction to satisfy tax obligations, as noted in the company’s filing. While the company isn’t currently profitable, InvestingPro subscribers can access 12 additional exclusive insights about GeneDx’s financial health, growth prospects, and detailed valuation analysis through the comprehensive Pro Research Report.
In other recent news, GeneDx Holdings Corp reported impressive financial results for the fourth quarter of 2024, surpassing analysts’ expectations. The company’s earnings per share reached $0.08, contrasting sharply with the anticipated loss of $0.48. Revenue was reported at $95.3 million, significantly exceeding the forecasted $61.7 million. GeneDx’s revenue from exome and genome testing saw a substantial 101% year-over-year increase. The company also launched a new Ultra Rapid Whole Genome Sequencing product, demonstrating its focus on innovation. Furthermore, GeneDx expanded its sales team and implemented new operational strategies to enhance its market presence. Analysts have not provided any recent upgrades or downgrades, but firms like TD Cowen and Jefferies have shown interest in the company’s strategic developments. These recent developments highlight GeneDx’s strong performance and strategic initiatives in the genetic testing market.
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