GeneDx Holdings Corp. $WGS Shares Bought by Granahan Investment Management LLC

Granahan Investment Management LLC increased its position in GeneDx Holdings Corp. (NASDAQ:WGS) by 105.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,709 shares of the company’s stock after acquiring an additional 12,159 shares during the period. Granahan Investment Management LLC owned approximately 0.08% of GeneDx worth $2,554,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in GeneDx by 5.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,702 shares of the company’s stock worth $399,000 after purchasing an additional 181 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of 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 buying an additional 186 shares during the period. Chung Wu Investment Group LLC grew its holdings in GeneDx by 9.1% in the 3rd quarter. Chung Wu Investment Group LLC now owns 3,600 shares of the company’s stock worth $388,000 after buying an additional 300 shares in the last quarter. Kovack Advisors Inc. grew its holdings in GeneDx by 14.3% in the 3rd quarter. Kovack Advisors Inc. now owns 2,868 shares of the company’s stock worth $309,000 after buying an additional 358 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in GeneDx by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock valued at $677,000 after acquiring an additional 453 shares during the period. 61.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WGS shares. Canaccord Genuity Group increased their price target on GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. BTIG Research reduced their price objective on shares of GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, January 21st. Jefferies Financial Group set a $150.00 price target on shares of GeneDx in a research note on Monday, February 23rd. Finally, Zacks Research raised GeneDx from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. One equities research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $150.71.

GeneDx Stock Down 2.1%

NASDAQ:WGS opened at $76.11 on Tuesday. GeneDx Holdings Corp. has a 1-year low of $55.17 and a 1-year high of $170.87. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -101.48 and a beta of 2.03. The company has a current ratio of 2.46, a quick ratio of 2.34 and a debt-to-equity ratio of 0.16. The business’s fifty day moving average price is $95.16 and its 200 day moving average price is $120.38.

GeneDx (NASDAQ:WGS) last released its earnings results on Monday, February 23rd. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. The company had revenue of $120.99 million for the quarter, compared to analysts’ expectations of $120.80 million. GeneDx had a positive return on equity of 14.73% and a negative net margin of 4.92%. On average, sell-side analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insider Activity at GeneDx

In related news, Director Keith A. Meister purchased 140,026 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were acquired at an average cost of $81.19 per share, with a total value of $11,368,710.94. Following the completion of the purchase, the director owned 3,228,150 shares of the company’s stock, valued at $262,093,498.50. The trade was a 4.53% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin Feeley sold 6,187 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $78.61, for a total value of $486,360.07. Following the sale, the chief financial officer owned 18,674 shares of the company’s stock, valued at approximately $1,467,963.14. This represents a 24.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 42,990 shares of company stock valued at $3,523,422. Company 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.