Casdin Capital LLC Has $323.99 Million Stake in GeneDx Holdings Corp. $WGS

Casdin Capital LLC reduced its stake in GeneDx Holdings Corp. (NASDAQ:WGS) by 14.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,007,164 shares of the company’s stock after selling 500,000 shares during the period. GeneDx makes up 27.0% of Casdin Capital LLC’s portfolio, making the stock its largest holding. Casdin Capital LLC owned approximately 10.40% of GeneDx worth $323,992,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. ARK Investment Management LLC purchased a new position in shares of GeneDx during the third quarter valued at about $48,157,000. Rhumbline Advisers lifted its position in shares of GeneDx by 42.7% in the second quarter. Rhumbline Advisers now owns 27,610 shares of the company’s stock worth $2,549,000 after buying an additional 8,258 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of GeneDx by 340.4% in the third quarter. Principal Financial Group Inc. now owns 59,624 shares of the company’s stock worth $6,424,000 after buying an additional 46,085 shares in the last quarter. Impax Asset Management Group plc bought a new position in GeneDx during the third quarter valued at approximately $5,387,000. Finally, Legal & General Group Plc boosted its stake in GeneDx by 55.9% during the second quarter. Legal & General Group Plc now owns 22,271 shares of the company’s stock valued at $2,056,000 after buying an additional 7,987 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

GeneDx Trading Up 1.2%

Shares of NASDAQ WGS opened at $77.78 on Friday. GeneDx Holdings Corp. has a 1-year low of $55.17 and a 1-year high of $170.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.46 and a quick ratio of 2.34. The business’s 50 day moving average is $96.27 and its two-hundred day moving average is $120.81. The stock has a market capitalization of $2.28 billion, a P/E ratio of -103.71 and a beta of 2.03.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. The business had revenue of $120.99 million during the quarter, compared to analyst estimates of $120.80 million. GeneDx had a positive return on equity of 14.73% and a negative net margin of 4.92%. As a group, research analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WGS. BTIG Research reduced their price objective on GeneDx from $200.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, January 21st. Zacks Research raised shares of GeneDx from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 25th. Jefferies Financial Group set a $150.00 price target on shares of GeneDx in a research report on Monday, February 23rd. Finally, Wall Street Zen downgraded shares of GeneDx from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $150.71.

Insider Activity

In other GeneDx news, COO Bryan Dechairo sold 5,961 shares of GeneDx stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $85.70, for a total transaction of $510,857.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Katherine Stueland sold 25,459 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $78.61, for a total transaction of $2,001,331.99. Following the completion of the sale, the chief executive officer directly owned 38,683 shares in the company, valued at approximately $3,040,870.63. This represents a 39.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 57,702 shares of company stock valued at $5,640,255 over the last ninety days. 29.60% of the stock is owned by corporate insiders.

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.