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Kevin Feeley, the Chief Financial Officer of GeneDx Holdings Corp. (NASDAQ:WGS), recently sold shares of the company's Class A common stock valued at approximately $108,736. The transactions occurred on January 2, 2025, and involved the sale of 1,430 shares at a weighted average price range between $75.0757 and $77.0427 per share. The stock has since climbed to $89.61, reflecting the company's strong momentum with a remarkable 210% gain over the past six months.
Following these sales, Feeley holds 26,770 shares of GeneDx. The sales were conducted under a Rule 10b5-1 trading plan, which Feeley adopted on August 21, 2024. This type of plan allows corporate insiders to set up a predetermined schedule for buying or selling stock, providing an opportunity to gradually change their holdings over time while avoiding concerns about insider trading. According to InvestingPro data, GeneDx maintains a GOOD financial health score despite volatile stock movements, with liquid assets exceeding short-term obligations. For deeper insights into GeneDx's valuation and 11 additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, GeneDx has reported significant developments, including the appointment of a new Chief Operating Officer, Bryan Dechairo, and a surge in its third-quarter earnings. Dechairo's appointment is part of a strategic move aimed at enhancing the company's operational capabilities and fostering the broader adoption of genomic insights in healthcare.
On the financial front, GeneDx has achieved profitability for the first time, with a 52% year-over-year revenue increase, reaching $76 million for the third quarter. The company has also raised its full-year 2024 revenue guidance to $284-$290 million.
In addition to these milestones, GeneDx has announced an anticipated partnership with Epic to integrate genomic testing into major health systems in 2025. Despite a slight decrease in prior period collections, the average selling price for exome and genome tests has increased, reflecting the company's leading position in the genomic newborn screening market.
These recent developments underscore GeneDx's commitment to strategic growth and innovation in the healthcare sector. As reported by InvestingPro, GeneDx maintains a healthy financial position with a current ratio of 2.41, indicating strong liquidity to support its growth initiatives.
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