Sei Investments Co. Sells 19,209 Shares of GeneDx Holdings Corp. $WGS

Sei Investments Co. trimmed its position in GeneDx Holdings Corp. (NASDAQ:WGS) by 52.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,660 shares of the company’s stock after selling 19,209 shares during the quarter. Sei Investments Co.’s holdings in GeneDx were worth $1,134,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kestra Advisory Services LLC bought a new stake in GeneDx in the 4th quarter valued at $27,000. Fifth Third Bancorp bought a new position in shares of GeneDx during the 1st quarter worth about $31,000. Quarry LP lifted its holdings in shares of GeneDx by 248.8% during the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 209 shares during the period. Ramirez Asset Management Inc. acquired a new stake in shares of GeneDx during the 4th quarter valued at about $33,000. Finally, Greenline Wealth Management LLC acquired a new stake in shares of GeneDx during the 4th quarter valued at about $33,000. 61.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other GeneDx news, Director Casdin Capital, Llc acquired 185,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of $42.60 per share, for a total transaction of $7,881,000.00. Following the transaction, the director owned 3,367,164 shares in the company, valued at $143,441,186.40. This trade represents a 5.81% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Meister bought 46,273 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were acquired at an average price of $38.91 per share, for a total transaction of $1,800,482.43. Following the acquisition, the director directly owned 4,784,570 shares of the company’s stock, valued at approximately $186,167,618.70. The trade was a 0.98% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 746,273 shares of company stock valued at $34,370,132 and sold 19,135 shares valued at $1,128,499. 25.17% of the stock is owned by corporate insiders.

GeneDx Trading Up 0.8%

Shares of WGS stock opened at $82.39 on Thursday. GeneDx Holdings Corp. has a 12-month low of $32.21 and a 12-month high of $170.87. The company has a market capitalization of $2.46 billion, a P/E ratio of -22.63 and a beta of 1.92. The firm has a 50-day moving average price of $64.51 and a 200 day moving average price of $67.87. The company has a quick ratio of 3.06, a current ratio of 3.30 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 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.20. The firm had revenue of $114.44 million for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned $0.36 earnings per share. Research analysts forecast that GeneDx Holdings Corp. will post -1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Zacks Research raised shares of GeneDx from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Guggenheim reaffirmed a “buy” rating and set a $74.00 price objective (up from $70.00) on shares of GeneDx in a report on Monday, June 29th. Wall Street Zen upgraded GeneDx from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. BTIG Research restated a “buy” rating and set a $90.00 target price on shares of GeneDx in a research report on Tuesday, August 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 price target (up from $50.00) on shares of GeneDx in a research note on Tuesday, June 23rd. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.57.

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.