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Katherine Stueland, the Chief Executive Officer of GeneDx Holdings Corp. (NASDAQ:WGS), recently sold shares of the company valued at approximately $1.4 million. The transactions took place on January 2, 2025, and involved the sale of Class A Common Stock in multiple tranches. The prices per share ranged from $75.4735 to $80.4734. The stock has shown remarkable momentum, delivering a 3,158% return over the past year and currently trading near its 52-week high of $89.66.
Following these transactions, Stueland retains ownership of 53,140 shares. The sales were conducted under a pre-established Rule 10b5-1 trading plan, which allows insiders to sell a predetermined number of shares at a specified time, regardless of any material non-public information they may possess. According to InvestingPro, the company maintains a healthy financial position with a current ratio of 2.41, though analysts don't expect profitability this year. Get access to 12 additional ProTips and comprehensive analysis with InvestingPro.
GeneDx Holdings Corp., formerly known as Sema4 Holdings Corp., is based in Stamford, Connecticut, and operates in the health services sector. The company has demonstrated strong revenue growth of 29.4% in the last twelve months, with gross margins reaching 60.9%.
In other recent news, GeneDx has reported significant developments in its operations and financial performance. The company's third-quarter earnings revealed a 52% year-over-year increase in revenue, reaching $76 million, marking the company's first profitability achievement. This growth is credited to the strategic expansion in the pediatric outpatient market and advancements in genomic testing offerings.
Additionally, GeneDx has appointed Bryan Dechairo as the new Chief Operating Officer, a move aimed at enhancing the company's operational capabilities. Dechairo, with over three decades of experience in the diagnostics industry, will oversee several critical departments, including Product & Technology, Operations, Medical (TASE:PMCN) Affairs, Innovation, and Program Management teams.
Furthermore, GeneDx has increased its full-year 2024 revenue guidance to $284-$290 million and plans a partnership with Epic to integrate genomic testing into major health systems in 2025. However, it is important to note that prior period collections have seen a decrease, down to $6.3 million from $7 million. Despite this, GeneDx continues to lead the genomic newborn screening market, with the average selling price for exome and genome tests increasing to $3,100, up $500 year-over-year.
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