EFG Asset Management North America Corp. Has $3.93 Million Position in GeneDx Holdings Corp. $WGS

EFG Asset Management North America Corp. raised its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 25.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 36,505 shares of the company’s stock after buying an additional 7,378 shares during the period. EFG Asset Management North America Corp.’s holdings in GeneDx were worth $3,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. William Blair Investment Management LLC raised its position in shares of GeneDx by 37.2% in the second quarter. William Blair Investment Management LLC now owns 1,631,402 shares of the company’s stock valued at $150,595,000 after purchasing an additional 442,414 shares during the period. Jennison Associates LLC grew its stake in GeneDx by 6,163.1% in the 2nd quarter. Jennison Associates LLC now owns 397,896 shares of the company’s stock valued at $36,730,000 after buying an additional 391,543 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in GeneDx by 164.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 589,188 shares of the company’s stock valued at $54,388,000 after acquiring an additional 366,711 shares during the period. Sumitomo Mitsui Trust Group Inc. acquired a new stake in GeneDx during the third quarter worth approximately $31,488,000. Finally, Invesco Ltd. boosted its holdings in shares of GeneDx by 42.3% during the second quarter. Invesco Ltd. now owns 554,419 shares of the company’s stock worth $51,178,000 after acquiring an additional 164,840 shares during the period. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Stock Performance

NASDAQ:WGS opened at $104.88 on Tuesday. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 1,165.33 and a beta of 2.01. GeneDx Holdings Corp. has a fifty-two week low of $55.17 and a fifty-two week high of $170.87. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.59 and a current ratio of 2.71. The stock has a fifty day moving average price of $136.82 and a 200-day moving average price of $124.47.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.21. The company had revenue of $116.74 million for the quarter, compared to analysts’ expectations of $104.33 million. GeneDx had a return on equity of 20.22% and a net margin of 0.52%. As a group, equities analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Joshua Ruch sold 38,000 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $160.37, for a total transaction of $6,094,060.00. Following the completion of the sale, the director owned 11,941 shares of the company’s stock, valued at approximately $1,914,978.17. This represents a 76.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 10,857 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $143.89, for a total transaction of $1,562,213.73. Following the sale, the chief executive officer owned 14,237 shares in the company, valued at $2,048,561.93. This represents a 43.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 60,163 shares of company stock valued at $9,339,792 over the last quarter. 29.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WGS. Guggenheim reiterated a “buy” rating and set a $170.00 target price (up previously from $115.00) on shares of GeneDx in a research note on Wednesday, October 29th. Zacks Research cut GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Wells Fargo & Company set a $155.00 target price on GeneDx and gave the stock an “equal weight” rating in a report on Monday, December 15th. Wall Street Zen cut shares of GeneDx from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Canaccord Genuity Group raised their price target on shares of GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.13.

About GeneDx

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.