Genedx CFO Kevin Feeley sells $20,616 worth of shares with Investing.com

Kevin Feeley, Chief Financial Officer of GeneDx Holdings Corp. (NASDAQ:WGS), a company with $2.07 billion in revenue that has grown over 4,200% in the past year, reported the sale of the company’s stock according to its most recent SEC filing. On December 2, Feeley sold 263 shares of GeneDx’s Class A common stock at an average price of $78.39 per share, totaling $20,616. The sale was made to satisfy a tax withholding obligation related to the sale and redemption of restricted stock units (RSUs). The company has long-term cash flow and low debt. Following this sale, Feeley owns 23,406 shares of GeneDx’s Class A common stock. InvestingPro analysis reveals 10 additional insights into GeneDx’s financial health and market conditions, available in the Pro Research Report.

In other recent news, GeneDx, a major player in genomic testing, reported year-over-year growth of 52% in the third quarter of 2024, totaling $76 million. The company posted a significant profit margin for the first time. These recent developments were reviewed during the fundraising event, where the company’s growth in the pediatrics market and advances in genomic testing were discussed.

GeneDx also raised its full-year 2024 guidance to between $284 and $290 million. A future agreement with Epic is expected to include genomic testing in major health systems in 2025. Despite the decline in collections in previous periods, the company does not have strong cash flow and overall safety and net cash flow reported at $117.4 million as of September 2024.

As for future prospects, GeneDx plans to expand its offerings in the NICU and increase the use of genetic testing among pediatric neurologists. The company’s financial performance and business focus on sales and marketing are expected to support its continued growth and profitability.

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