First Light Asset Management LLC Has $53.82 Million Stake in GeneDx Holdings Corp. $WGS

First Light Asset Management LLC increased its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 222.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 783,923 shares of the company’s stock after buying an additional 540,996 shares during the quarter. GeneDx comprises approximately 3.3% of First Light Asset Management LLC’s investment portfolio, making the stock its 11th biggest position. First Light Asset Management LLC’s holdings in GeneDx were worth $53,816,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WGS. Kestra Advisory Services LLC acquired a new position in GeneDx in the 4th quarter valued at $27,000. Fifth Third Bancorp acquired a new stake in shares of GeneDx during the 1st quarter worth $31,000. Quarry LP raised its stake in GeneDx by 248.8% in the third quarter. Quarry LP now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 209 shares in the last quarter. Ramirez Asset Management Inc. acquired a new position in GeneDx in the fourth quarter valued at about $33,000. Finally, Greenline Wealth Management LLC bought a new stake in GeneDx during the fourth quarter worth about $33,000. Institutional investors own 61.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Zacks Research upgraded shares of GeneDx from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 26th. Weiss Ratings raised shares of GeneDx from a “sell (e+)” rating to a “sell (d)” rating in a report on Tuesday, August 4th. TD Cowen reissued a “buy” rating on shares of GeneDx in a research note on Wednesday, July 15th. Canaccord Genuity Group boosted their price objective on shares of GeneDx from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Finally, Piper Sandler restated an “overweight” rating and set a $63.00 target price (up from $50.00) on shares of GeneDx in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, GeneDx currently has an average rating of “Moderate Buy” and a consensus target price of $89.57.

Insider Buying and Selling at GeneDx

In related news, CFO Kevin Feeley sold 3,729 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.77, for a total transaction of $226,611.33. Following the sale, the chief financial officer owned 39,954 shares in the company, valued at $2,428,004.58. The trade was a 8.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Katherine Stueland sold 10,501 shares of GeneDx stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $60.77, for a total value of $638,145.77. Following the sale, the chief executive officer directly owned 104,372 shares in the company, valued at $6,342,686.44. The trade was a 9.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 25.17% of the company’s stock.

GeneDx Trading Up 0.7%

Shares of GeneDx stock opened at $86.48 on Thursday. The firm’s 50 day moving average is $73.98 and its 200 day moving average is $66.64. The firm has a market capitalization of $2.58 billion, a PE ratio of -23.76 and a beta of 1.99. GeneDx Holdings Corp. has a 1 year low of $32.21 and a 1 year high of $170.87. The company has a current ratio of 3.30, a quick ratio of 3.06 and a debt-to-equity ratio of 0.40.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.19) by $0.20. The business had revenue of $114.44 million during the quarter, compared to the consensus estimate of $111.01 million. GeneDx had a negative net margin of 23.41% and a positive return on equity of 4.12%. During the same quarter in the prior year, the firm earned $0.36 EPS. Equities research analysts forecast that GeneDx Holdings Corp. will post -0.41 earnings per share for the current fiscal year.

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.