GeneDx (NASDAQ:WGS) Director Casdin Capital, Llc Acquires 185,000 Shares

GeneDx Holdings Corp. (NASDAQ:WGS) Director Casdin Capital, Llc purchased 185,000 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average price of $42.60 per share, for a total transaction of $7,881,000.00. Following the acquisition, the director owned 3,367,164 shares in the company, valued at $143,441,186.40. The trade was a 5.81% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 stock was bought at an average price of $43.81 per share, for a total transaction of $6,133,400.00.
• On Monday, May 18th, Casdin Capital, Llc purchased 175,000 shares of GeneDx stock. The stock was bought at an average price of $42.55 per share, for a total transaction of $7,446,250.00.

GeneDx Trading Up 6.2%

Shares of WGS stock opened at $44.73 on Thursday. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -16.69 and a beta of 2.06. 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 Holdings Corp. has a fifty-two week low of $32.21 and a fifty-two week high of $170.87. The firm’s 50 day moving average price is $61.30 and its two-hundred day moving average price is $99.89.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). The business had revenue of $102.25 million for the quarter, compared to analyst estimates 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 period last year, the firm earned ($0.23) earnings per share. On average, analysts anticipate that GeneDx Holdings Corp. will post -1 EPS for the current year.

Institutional Trading of GeneDx

Several institutional investors have recently added to or reduced their stakes in WGS. Westfield Capital Management Co. LP increased its stake in GeneDx by 87.1% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock valued at $132,435,000 after purchasing an additional 474,167 shares during the last quarter. ARK Investment Management LLC bought a new stake in GeneDx during the third quarter valued at $48,157,000. Franklin Resources Inc. increased its stake in GeneDx by 60.4% during the fourth quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company’s stock valued at $142,154,000 after purchasing an additional 411,607 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of GeneDx by 59.2% during the fourth quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock valued at $102,288,000 after acquiring an additional 292,394 shares during the period. Finally, Amova Asset Management Americas Inc. acquired a new position in shares of GeneDx during the third quarter valued at $31,444,000. Institutional investors own 61.72% of the company’s stock.

Analysts Set New Price Targets

WGS has been the topic of a number of recent research reports. Craig Hallum reaffirmed a “buy” rating and set a $85.00 price target on shares of GeneDx in a research report on Tuesday, May 5th. Wall Street Zen cut shares of GeneDx from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $75.00 price target (down from $155.00) on shares of GeneDx in a research report 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. Finally, Jefferies Financial Group set a $150.00 price objective on shares of GeneDx in a research note on Monday, February 23rd. Six research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.