Beamr video compression achieves up to 50% improvement for AVs
In addition to these sales, Feeley also acquired 11,208 shares of GeneDx through the exercise of stock options at a price of $32.67 per share, bringing the total value of the acquisition to $366,165. Following these transactions, Feeley holds 2,472 shares directly.These transactions were conducted under a pre-arranged trading plan established on August 21, 2024, in accordance with Rule 10b5-1, which allows company insiders to set up a trading plan for selling stocks they own. For deeper insights into GeneDx's valuation metrics and 13 additional ProTips, visit InvestingPro. For deeper insights into GeneDx's valuation metrics and 13 additional ProTips, visit InvestingPro.
In addition to these sales, Feeley also acquired 11,208 shares of GeneDx through the exercise of stock options at a price of $32.67 per share, bringing the total value of the acquisition to $366,165. Following these transactions, Feeley holds 2,472 shares directly.
These transactions were conducted under a pre-arranged trading plan established on August 21, 2024, in accordance with Rule 10b5-1, which allows company insiders to set up a trading plan for selling stocks they own.
In other recent news, GeneDx has reported a surge in its third-quarter earnings, marking a first-time achievement of profitability. The genomic testing leader saw a 52% year-over-year revenue increase, reaching $76 million for the third quarter, attributed to strategic expansion in the pediatric outpatient market and advancements in genomic testing offerings. The company also raised its full-year 2024 revenue guidance to $284-$290 million.
In addition, TD Cowen has exhibited confidence in GeneDx, significantly raising the stock's price target from $75.00 to $118.00 while maintaining a Buy rating. The firm's revised price target is based on a thorough analysis, including discussions with seven Key Opinion Leaders and an examination of published studies on Whole Exome Sequencing and Whole Genome Sequencing.
Moreover, Bryan Dechairo has been appointed as the new Chief Operating Officer of GeneDx, expected to enhance the company's operational capabilities and foster broader adoption of genomic insights in healthcare. Furthermore, GeneDx is anticipated to partner with Epic to integrate genomic testing into major health systems in 2025. However, it's worth noting that prior period collections have seen a decrease, down to $6.3 million from $7 million.
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