Penserra Capital Management LLC Has $927,000 Position in GeneDx Holdings Corp. $WGS

Penserra Capital Management LLC lessened its holdings in GeneDx Holdings Corp. (NASDAQ:WGS) by 67.1% during the third quarter, Holdings Channel reports. The fund owned 8,608 shares of the company’s stock after selling 17,548 shares during the period. Penserra Capital Management LLC’s holdings in GeneDx were worth $927,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in WGS. William Blair Investment Management LLC increased its holdings 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 last quarter. Westfield Capital Management Co. LP grew its stake 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 buying an additional 366,711 shares during the last quarter. Zweig DiMenna Associates LLC grew its stake in GeneDx by 28.2% in the 2nd quarter. Zweig DiMenna Associates LLC now owns 586,100 shares of the company’s stock valued at $54,103,000 after buying an additional 129,000 shares during the last quarter. Invesco Ltd. raised its holdings in GeneDx by 42.3% in the 2nd quarter. Invesco Ltd. now owns 554,419 shares of the company’s stock valued at $51,178,000 after acquiring an additional 164,840 shares during the period. Finally, Geode Capital Management LLC lifted its position in GeneDx by 23.4% during the second quarter. Geode Capital Management LLC now owns 484,714 shares of the company’s stock worth $44,750,000 after acquiring an additional 91,989 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

Insider Activity

In other GeneDx news, CEO Katherine Stueland sold 1,653 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $94.00, for a total value of $155,382.00. Following the transaction, the chief executive officer directly owned 16,458 shares of the company’s stock, valued at $1,547,052. This trade represents a 9.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joshua Ruch sold 38,000 shares of the business’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 transaction, the director owned 11,941 shares of the company’s stock, valued at $1,914,978.17. The trade was a 76.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 68,961 shares of company stock valued at $10,027,891. Corporate insiders own 29.60% of the company’s stock.

GeneDx Stock Performance

WGS opened at $84.29 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.59 and a current ratio of 2.71. GeneDx Holdings Corp. has a 52-week low of $55.17 and a 52-week high of $170.87. The firm has a market cap of $2.44 billion, a P/E ratio of 936.56 and a beta of 2.00. The business’s fifty day moving average is $126.14 and its 200-day moving average is $124.92.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WGS. Wells Fargo & Company set a $155.00 target price on GeneDx and gave the company an “equal weight” rating in a research report on Monday, December 15th. BTIG Research upped their price objective on GeneDx from $165.00 to $200.00 and gave the company a “buy” rating in a report on Friday, December 12th. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a report on Wednesday, January 21st. Guggenheim restated a “buy” rating and issued a $170.00 price target (up from $115.00) on shares of GeneDx in a research note on Wednesday, October 29th. 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 investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.