Comerica Bank Sells 29,753 Shares of GeneDx Holdings Corp. $WGS

Comerica Bank lowered its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 97.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 765 shares of the company’s stock after selling 29,753 shares during the period. Comerica Bank’s holdings in GeneDx were worth $100,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of WGS. Jones Financial Companies Lllp boosted its stake in GeneDx by 664.3% during the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after acquiring an additional 186 shares in the last quarter. Quarry LP boosted its stake in GeneDx by 248.8% during the third quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 209 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in GeneDx during the third quarter worth about $65,000. AlphaQuest LLC boosted its stake in GeneDx by 70.8% during the third quarter. AlphaQuest LLC now owns 1,303 shares of the company’s stock worth $140,000 after acquiring an additional 540 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in GeneDx by 479.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,818 shares of the company’s stock worth $168,000 after acquiring an additional 1,504 shares in the last quarter. Institutional investors own 61.72% of the company’s stock.

Analyst Upgrades and Downgrades

WGS has been the topic of several research reports. Craig Hallum reissued a “buy” rating and set a $85.00 price objective on shares of GeneDx in a research note on Tuesday, May 5th. Guggenheim dropped their price objective on shares of GeneDx from $100.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Wall Street Zen lowered shares of GeneDx from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Wells Fargo & Company reiterated an “overweight” rating and issued a $75.00 target price (down from $155.00) on shares of GeneDx in a research note on Tuesday, May 5th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $130.00 target price (down from $160.00) on shares of GeneDx in a research note on Tuesday, February 24th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, GeneDx has a consensus rating of “Moderate Buy” and an average target price of $96.43.

GeneDx News Summary

Here are the key news stories impacting GeneDx this week:

• Positive Sentiment: Director Keith A. Meister kept buying shares, including 165,000 shares on May 13, 140,000 shares on May 14, and 46,273 shares on May 15, signaling strong insider confidence in GeneDx’s outlook and helping support the stock. Insider trade filing
• Neutral Sentiment: GeneDx received an average brokerage recommendation of “Moderate Buy,” suggesting Wall Street still sees upside despite the recent volatility. Brokerage recommendation article
• Negative Sentiment: A legal update from Pomerantz LLP said it is investigating claims on behalf of GeneDx investors, adding overhang from possible shareholder litigation after the company’s recent results. Pomerantz investigation article
• Negative Sentiment: Another law firm, Levi & Korsinsky, announced a securities investigation tied to GeneDx’s Q1 revenue miss and reduced full-year guidance, reinforcing concerns that the post-earnings selloff may not be over. Levi & Korsinsky investigation article
• Negative Sentiment: An analyst note cut GeneDx’s price target sharply to $98.94, highlighting a more cautious view after the company’s disappointing quarter. Price target cut article

Insider Activity at GeneDx

In other news, Director Keith A. Meister bought 533,758 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were purchased at an average price of $37.86 per share, for a total transaction of $20,208,077.88. Following the completion of the purchase, the director owned 3,761,908 shares in the company, valued at approximately $142,425,836.88. This represents a 16.53% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Katherine Stueland sold 46,933 shares of the company’s stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $63.17, for a total transaction of $2,964,757.61. Following the completion of the transaction, the chief executive officer owned 91,514 shares in the company, valued at approximately $5,780,939.38. This represents a 33.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders bought 1,725,941 shares of company stock worth $74,034,301 and sold 104,028 shares worth $7,377,165. Corporate insiders own 29.60% of the company’s stock.

GeneDx Trading Up 4.9%

Shares of NASDAQ WGS opened at $40.75 on Friday. The firm’s 50 day moving average price is $64.01 and its 200-day moving average price is $102.00. The company has a market cap of $1.21 billion, a PE ratio of -15.21 and a beta of 2.06. GeneDx Holdings Corp. has a 52-week low of $32.21 and a 52-week high of $170.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.95 and a current ratio of 3.09.

GeneDx (NASDAQ:WGS) last issued its earnings results on Monday, May 4th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.22). The firm had revenue of $102.25 million during the quarter, compared to the consensus estimate 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 in the prior year, the company posted ($0.23) EPS. On average, equities research analysts expect that GeneDx Holdings Corp. will post -1 EPS for the current fiscal year.

GeneDx Company Profile

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.