GeneDx (NASDAQ:WGS) Director Casdin Capital, Llc Buys 175,000 Shares

GeneDx Holdings Corp. (NASDAQ:WGS) Director Casdin Capital, Llc purchased 175,000 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were purchased at an average cost of $42.55 per share, with a total value of $7,446,250.00. Following the purchase, the director directly owned 3,182,164 shares in the company, valued at approximately $135,401,078.20. The trade was a 5.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Casdin Capital, Llc also recently made the following trade(s):

• On Wednesday, May 20th, Casdin Capital, Llc purchased 140,000 shares of GeneDx stock. The shares were purchased at an average cost of $43.81 per share, with a total value of $6,133,400.00.
• On Tuesday, May 19th, Casdin Capital, Llc acquired 185,000 shares of GeneDx stock. The shares were bought at an average price of $42.60 per share, with a total value of $7,881,000.00.

GeneDx Price Performance

GeneDx stock traded up $2.60 during midday trading on Wednesday, reaching $44.73. 1,140,005 shares of the company were exchanged, compared to its average volume of 1,984,668. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -16.69 and a beta of 2.06. The firm’s 50-day simple moving average is $61.30 and its 200-day simple moving average is $99.89. GeneDx Holdings Corp. has a 1 year low of $32.21 and a 1 year 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 posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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 business posted ($0.23) EPS. On average, analysts anticipate that GeneDx Holdings Corp. will post -1 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WGS. Royal Bank of Canada increased its stake in shares of GeneDx by 30.2% during the 1st quarter. Royal Bank of Canada now owns 29,479 shares of the company’s stock valued at $2,611,000 after acquiring an additional 6,840 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of GeneDx by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock worth $677,000 after purchasing an additional 453 shares during the period. NewEdge Advisors LLC grew its holdings in shares of GeneDx by 270,700.0% during the 1st quarter. NewEdge Advisors LLC now owns 2,708 shares of the company’s stock worth $240,000 after purchasing an additional 2,707 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of GeneDx by 67.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,224 shares of the company’s stock worth $2,500,000 after purchasing an additional 11,375 shares during the period. Finally, Cetera Investment Advisers purchased a new stake in shares of GeneDx during the 2nd quarter worth about $249,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WGS. Guggenheim dropped their price objective on shares of GeneDx from $100.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Craig Hallum reaffirmed a “buy” rating and set a $85.00 price objective on shares of GeneDx in a research note on Tuesday, May 5th. 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 research note on Tuesday, May 5th. Zacks Research downgraded shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $130.00 price objective (down from $160.00) on shares of GeneDx in a research note on Tuesday, February 24th. Six equities research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.43.

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.