10% owner OPKO Health sells 139,824 shares of GeneDx (WGS) for $4.8M over 3 days as stock hits 52-week high.
OPKO Health, a 10% stakeholder in GeneDx, executed three separate sales totaling 139,824 shares for $4,756,875.36 between August 15–19, 2024 at prices ranging from $33.08 to $34.49 (blended average $34.02). This sale reduces OPKO's position from 2,786,796 shares to 2,646,972 shares, a -5.0% reduction. The timing coincides with the stock trading at its 52-week high of $35.53, which occurred after a strong 90-day rally of +71.2% and a 30-day gain of +11.6%. However, GeneDx faces material operational headwinds: the company reported negative net income of $-29,173,000.00 in the latest quarter and annual revenue declined -13.7% year-over-year. With the stock at peak valuation and the company unprofitable, OPKO's disposition of shares at market highs is noteworthy, though the 5% reduction preserves a substantial 2.65M-share holding, suggesting continued material ownership stakes rather than a full exit.