Vanguard Group Inc. Has $154.65 Million Stake in GeneDx Holdings Corp. $WGS

Vanguard Group Inc. raised its stake in GeneDx Holdings Corp. (NASDAQ:WGS) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,189,069 shares of the company’s stock after acquiring an additional 18,647 shares during the quarter. Vanguard Group Inc. owned approximately 4.11% of GeneDx worth $154,650,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. ARK Investment Management LLC bought a new position in GeneDx in the 3rd quarter valued at approximately $48,157,000. Franklin Resources Inc. increased its holdings in shares of GeneDx by 101.9% during the third quarter. Franklin Resources Inc. now owns 681,381 shares of the company’s stock worth $73,412,000 after buying an additional 343,954 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of GeneDx during the third quarter worth $31,488,000. Amova Asset Management Americas Inc. bought a new position in shares of GeneDx in the 3rd quarter valued at $31,444,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of 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 acquiring an additional 191,780 shares in the last quarter. 61.72% of the stock is owned by institutional investors.

GeneDx Stock Down 2.8%

Shares of NASDAQ:WGS opened at $39.61 on Tuesday. The firm has a market cap of $1.18 billion, a P/E ratio of -14.78 and a beta of 2.06. GeneDx Holdings Corp. has a 12-month low of $32.21 and a 12-month high of $170.87. The business has a fifty day simple moving average of $67.05 and a 200 day simple moving average of $104.25. The company has a quick ratio of 2.95, a current ratio of 3.09 and a debt-to-equity ratio of 0.38.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). The company had revenue of $102.25 million during the quarter, compared to the consensus estimate of $112.46 million. GeneDx had a negative net margin of 17.58% and a positive return on equity of 9.15%. During the same quarter last year, the firm posted ($0.23) EPS. Analysts predict that GeneDx Holdings Corp. will post 0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WGS shares. Zacks Research lowered GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, January 21st. Jefferies Financial Group set a $150.00 price target on GeneDx in a report on Monday, February 23rd. BTIG Research dropped their price objective on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Finally, Craig Hallum reiterated a “buy” rating and set a $85.00 target price on shares of GeneDx in a research report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, GeneDx presently has an average rating of “Moderate Buy” and an average price target of $96.43.

More GeneDx News

Here are the key news stories impacting GeneDx this week:

• Positive Sentiment: Director Keith Meister made multiple large open-market purchases of GeneDx shares, including 500,000 shares, 533,758 shares, and 171,389 shares in early May. These buys totaled more than $27 million and signal strong insider confidence in the company’s outlook. Insider Buying: GeneDx (NASDAQ:WGS) Director Acquires 171,389 Shares of Stock
• Neutral Sentiment: The latest insider filing shows Meister increasing his ownership by 4.56% to more than 3.9 million shares, reinforcing the view that a major company insider sees value at current levels. GeneDx (NASDAQ:WGS) Director Keith Meister Acquires 171,389 Shares of Stock
• Negative Sentiment: Multiple law firms announced investigations into GeneDx over potential securities-law violations, which can weigh on the stock because it raises legal and governance uncertainty. WGS SHAREHOLDER ALERT: Investors Encouraged to Contact Kirby McInerney LLP About Potential Securities Laws Violations
• Negative Sentiment: GeneDx’s recent earnings report missed expectations on both EPS and revenue, adding to investor concerns about execution after the company reported a wider-than-expected loss.

Insider Activity at GeneDx

In related news, CEO Katherine Stueland sold 2,172 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $65.19, for a total value of $141,592.68. Following the sale, the chief executive officer directly owned 93,216 shares in the company, valued at $6,076,751.04. This represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Keith A. Meister purchased 500,000 shares of the stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $39.29 per share, with a total value of $19,645,000.00. Following the acquisition, the director owned 4,433,297 shares in the company, valued at approximately $174,184,239.13. The trade was a 12.71% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 1,374,668 shares of company stock worth $60,269,369 and have sold 104,028 shares worth $7,377,165. 29.60% of the stock is currently owned by company insiders.

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.