Telemark Asset Management LLC Purchases Shares of 120,000 GeneDx Holdings Corp. $WGS

Telemark Asset Management LLC acquired a new position in GeneDx Holdings Corp. (NASDAQ:WGS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 120,000 shares of the company’s stock, valued at approximately $12,929,000. GeneDx comprises approximately 1.2% of Telemark Asset Management LLC’s portfolio, making the stock its 25th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WGS. Jones Financial Companies Lllp grew its holdings in shares of GeneDx by 664.3% in the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after purchasing an additional 186 shares in the last quarter. Chung Wu Investment Group LLC lifted its position in GeneDx by 9.1% during the third quarter. Chung Wu Investment Group LLC now owns 3,600 shares of the company’s stock valued at $388,000 after purchasing an additional 300 shares during the last quarter. Kovack Advisors Inc. lifted its position in GeneDx by 14.3% during the third quarter. Kovack Advisors Inc. now owns 2,868 shares of the company’s stock valued at $309,000 after purchasing an additional 358 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of GeneDx by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock worth $677,000 after buying an additional 453 shares in the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of GeneDx by 70.8% in the 3rd quarter. AlphaQuest LLC now owns 1,303 shares of the company’s stock worth $140,000 after buying an additional 540 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other GeneDx news, CFO Kevin Feeley sold 317 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $93.99, for a total value of $29,794.83. Following the sale, the chief financial officer owned 9,168 shares in the company, valued at $861,700.32. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Katherine Stueland sold 1,653 shares of the business’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $94.00, for a total transaction of $155,382.00. Following the sale, the chief executive officer directly owned 16,458 shares of the company’s stock, valued at $1,547,052. This represents a 9.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 68,961 shares of company stock valued at $10,027,891. Corporate insiders own 29.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wall Street Zen cut shares of GeneDx from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Wells Fargo & Company upgraded GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price objective on the stock in a research report on Monday, February 9th. BTIG Research raised their price objective on GeneDx from $165.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a report on Wednesday, January 21st. Finally, Canaccord Genuity Group increased their price target on GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.43.

GeneDx Stock Down 9.5%

Shares of NASDAQ WGS opened at $82.06 on Friday. GeneDx Holdings Corp. has a 1 year low of $55.17 and a 1 year high of $170.87. The firm has a 50-day simple moving average of $112.39 and a two-hundred day simple moving average of $124.65. The company has a market cap of $2.37 billion, a P/E ratio of 911.78 and a beta of 2.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.71 and a quick ratio of 2.59.

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.