KLP Kapitalforvaltning AS Sells 500 Shares of GeneDx Holdings Corp. $WGS

KLP Kapitalforvaltning AS decreased its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 11.6% in the second quarter, Holdings Channel reports. The firm owned 3,800 shares of the company’s stock after selling 500 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in GeneDx were worth $351,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Chung Wu Investment Group LLC raised its stake in shares of GeneDx by 8.2% in the second quarter. Chung Wu Investment Group LLC now owns 3,300 shares of the company’s stock valued at $305,000 after acquiring an additional 250 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of GeneDx by 151.7% in the first quarter. GAMMA Investing LLC now owns 438 shares of the company’s stock valued at $39,000 after acquiring an additional 264 shares during the last quarter. Palisades Investment Partners LLC raised its stake in shares of GeneDx by 0.4% in the first quarter. Palisades Investment Partners LLC now owns 83,913 shares of the company’s stock valued at $7,432,000 after acquiring an additional 309 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of GeneDx by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock valued at $677,000 after acquiring an additional 453 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of GeneDx by 3,223.5% in the first quarter. US Bancorp DE now owns 565 shares of the company’s stock valued at $50,000 after acquiring an additional 548 shares during the last quarter. Institutional investors own 61.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, October 8th. Piper Sandler raised their price target on shares of GeneDx from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Wall Street Zen upgraded shares of GeneDx from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Guggenheim restated a “buy” rating and issued a $115.00 price objective (up previously from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Finally, Zacks Research cut shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.13.

Insider Buying and Selling at GeneDx

In other news, CFO Kevin Feeley sold 3,728 shares of GeneDx stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $121.47, for a total transaction of $452,840.16. Following the transaction, the chief financial officer directly owned 8,755 shares of the company’s stock, valued at $1,063,469.85. This trade represents a 29.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jason Ryan sold 38,072 shares of GeneDx stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $127.30, for a total transaction of $4,846,565.60. Following the transaction, the director directly owned 103,284 shares in the company, valued at approximately $13,148,053.20. This represents a 26.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 556,371 shares of company stock worth $67,489,314 over the last quarter. 29.60% of the stock is currently owned by insiders.

GeneDx Price Performance

WGS opened at $120.94 on Monday. The company has a fifty day moving average price of $122.74 and a two-hundred day moving average price of $96.41. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.70 and a current ratio of 2.87. GeneDx Holdings Corp. has a 52 week low of $55.17 and a 52 week high of $136.00. The firm has a market capitalization of $3.47 billion, a PE ratio of 2,418.80 and a beta of 1.98.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.40. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. The firm had revenue of $102.69 million during the quarter, compared to analyst estimates of $86.00 million. GeneDx has set its FY 2025 guidance at EPS. As a group, analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

GeneDx Profile

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.