GeneDx (NASDAQ:WGS) Director Acquires $7,446,250.00 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Casdin Capital, Llc bought 175,000 shares of the stock in a transaction on Monday, May 18th. The stock was purchased at an average price of $42.55 per share, with a total value of $7,446,250.00. Following the completion of the acquisition, the director directly owned 3,182,164 shares in the company, valued at approximately $135,401,078.20. This trade represents a 5.82% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Casdin Capital, Llc also recently made the following trade(s):

• On Wednesday, May 20th, Casdin Capital, Llc bought 140,000 shares of GeneDx stock. The stock was purchased at an average price of $43.81 per share, with a total value of $6,133,400.00.
• On Tuesday, May 19th, Casdin Capital, Llc bought 185,000 shares of GeneDx stock. The stock was purchased at an average price of $42.60 per share, with a total value of $7,881,000.00.

GeneDx Trading Down 0.0%

Shares of NASDAQ WGS opened at $47.31 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.09 and a quick ratio of 2.95. The stock has a market capitalization of $1.40 billion, a P/E ratio of -17.65 and a beta of 2.06. GeneDx Holdings Corp. has a 1-year low of $32.21 and a 1-year high of $170.87. The business has a fifty day moving average price of $59.72 and a 200 day moving average price of $98.90.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). The company had revenue of $102.25 million for the quarter, compared to analysts’ expectations of $112.46 million. GeneDx had a positive return on equity of 9.15% and a negative net margin of 17.58%.During the same quarter last year, the company earned ($0.23) earnings per share. Equities research analysts expect that GeneDx Holdings Corp. will post -1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in GeneDx by 4.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,220,502 shares of the company’s stock valued at $158,738,000 after buying an additional 52,322 shares in the last quarter. Vanguard Group Inc. increased its position in GeneDx by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 1,189,069 shares of the company’s stock valued at $154,650,000 after buying an additional 18,647 shares in the last quarter. Franklin Resources Inc. increased its position in GeneDx by 60.4% during the 4th quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company’s stock valued at $142,154,000 after buying an additional 411,607 shares in the last quarter. Westfield Capital Management Co. LP increased its position in GeneDx by 87.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock valued at $132,435,000 after buying an additional 474,167 shares in the last quarter. Finally, Invesco Ltd. increased its position in GeneDx by 59.2% during the 4th quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock valued at $102,288,000 after buying an additional 292,394 shares in the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WGS. Wells Fargo & Company restated an “overweight” rating and set a $75.00 price objective (down from $155.00) on shares of GeneDx in a research note on Tuesday, May 5th. Craig Hallum restated a “buy” rating and set a $85.00 price objective on shares of GeneDx in a research note on Tuesday, May 5th. Wall Street Zen cut GeneDx from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded GeneDx from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 15th. Finally, Guggenheim reduced their target price on GeneDx from $100.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $96.43.

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.