Beamr video compression achieves up to 50% improvement for AVs
Katherine Stueland, the Chief Executive Officer of GeneDx Holdings Corp. (NASDAQ:WGS), recently executed significant stock transactions, according to a Form 4 filing with the Securities and Exchange Commission. On March 26, Stueland sold a total of 46,551 shares of GeneDx’s Class A Common Stock, with sale prices ranging from $94.585 to $95.6577 per share. The total value of these sales amounted to approximately $4.45 million. The stock, currently trading at $92.20, has shown remarkable strength with a 933% return over the past year, according to InvestingPro data.
These transactions were part of a "sell to cover" arrangement to address tax withholding obligations linked to the vesting and settlement of restricted stock units (RSUs). Stueland retained ownership of 48,314 shares following these transactions.
Additionally, Stueland acquired 80,000 shares of Class A Common Stock through the vesting of RSUs, which were converted at no cost. Each RSU represents the right to receive one share of the company’s stock upon settlement.
GeneDx Holdings Corp., based in Stamford, Connecticut, is a provider of health services, focusing on genetic testing and related services.
In other recent news, GeneDx Holdings Corp reported impressive financial results for the fourth quarter of 2024, significantly exceeding both earnings and revenue projections. The company achieved earnings per share of $0.08, contrasting sharply with the anticipated loss of $0.48, and reported revenues of $95.3 million, surpassing the forecasted $61.7 million. This marks GeneDx’s second consecutive quarter of profitability, with a notable 101% year-over-year growth in exome and genome testing revenues. The company also introduced an Ultra Rapid Whole Genome Sequencing product, aiming to enhance its service offerings. GeneDx has expanded its sales team and integrated new operational strategies to support its growth trajectory. Additionally, the company has set a revenue guidance for 2025 between $350 million and $360 million, with an expected growth of at least 30% in exome and genome volume. Analysts from firms such as TD Cowen and Jefferies discussed the company’s strategic moves and future prospects during the recent earnings call. GeneDx’s leadership emphasized their commitment to maintaining profitability and expanding their market presence in the coming years.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.