GeneDx Holdings Corp. $WGS Stock Position Raised by SG Americas Securities LLC

SG Americas Securities LLC increased its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 937.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 63,181 shares of the company’s stock after buying an additional 57,090 shares during the period. SG Americas Securities LLC’s holdings in GeneDx were worth $8,217,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. ARK Investment Management LLC acquired a new position in GeneDx in the third quarter valued at approximately $48,157,000. Franklin Resources Inc. raised its position in shares of GeneDx by 101.9% during the 3rd quarter. Franklin Resources Inc. now owns 681,381 shares of the company’s stock worth $73,412,000 after purchasing an additional 343,954 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of GeneDx in the 3rd quarter worth approximately $31,488,000. Amova Asset Management Americas Inc. bought a new stake in shares of GeneDx in the 3rd quarter worth approximately $31,444,000. Finally, Assenagon Asset Management S.A. boosted its position in GeneDx by 1,358.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 205,895 shares of the company’s stock valued at $26,779,000 after purchasing an additional 191,780 shares during the period. Institutional investors own 61.72% of the company’s stock.

GeneDx Trading Up 4.4%

Shares of GeneDx stock opened at $59.61 on Tuesday. The business has a fifty day simple moving average of $84.57 and a 200-day simple moving average of $116.11. GeneDx Holdings Corp. has a fifty-two week low of $55.17 and a fifty-two week high of $170.87. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -79.48 and a beta of 2.03. The company has a quick ratio of 2.34, a current ratio of 2.46 and a debt-to-equity ratio of 0.16.

GeneDx (NASDAQ:WGS) last released its earnings results on Monday, February 23rd. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The firm had revenue of $120.99 million for 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%. On average, equities analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Analyst Ratings Changes

WGS has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, January 21st. Wells Fargo & Company upgraded shares of 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. Guggenheim reduced their target price on shares of GeneDx from $170.00 to $100.00 and set a “buy” rating for the company in a research note on Monday. Zacks Research upgraded shares of GeneDx from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen cut GeneDx from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, GeneDx has a consensus rating of “Moderate Buy” and a consensus target price of $140.71.

Insider Activity

In related news, CEO Katherine Stueland sold 17,179 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $76.80, for a total value of $1,319,347.20. Following the completion of the transaction, the chief executive officer owned 58,447 shares of the company’s stock, valued at approximately $4,488,729.60. This trade represents a 22.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Bryan Dechairo sold 5,961 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $85.70, for a total value of $510,857.70. The SEC filing for this sale provides additional information. Insiders have sold a total of 65,875 shares of company stock worth $5,280,990 in the last quarter. Insiders own 29.60% of the company’s stock.

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.