Polar Asset Management Partners Inc. Makes New $1.01 Million Investment in GeneDx Holdings Corp. (NASDAQ:WGS)

Polar Asset Management Partners Inc. acquired a new stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 13,100 shares of the company's stock, valued at approximately $1,007,000.

A number of other institutional investors also recently modified their holdings of the stock. William Blair Investment Management LLC acquired a new position in shares of GeneDx during the fourth quarter valued at $51,496,000. Lord Abbett & CO. LLC bought a new stake in GeneDx during the 4th quarter worth about $48,458,000. Science & Technology Partners L.P. acquired a new position in GeneDx during the 4th quarter valued at about $30,821,000. Zweig DiMenna Associates LLC bought a new position in shares of GeneDx in the 4th quarter valued at about $23,788,000. Finally, Raymond James Financial Inc. bought a new position in shares of GeneDx in the 4th quarter valued at about $20,371,000. 61.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WGS has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price target on shares of GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Jefferies Financial Group upgraded shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research report on Friday, May 9th. Wells Fargo & Company reduced their price target on GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Guggenheim began coverage on GeneDx in a research note on Thursday, May 15th. They set a "buy" rating and a $88.00 price objective for the company. Finally, TD Securities dropped their price objective on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $86.75.

Insiders Place Their Bets

In related news, Director Keith A. Meister bought 100,000 shares of GeneDx stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average cost of $56.01 per share, with a total value of $5,601,000.00. Following the purchase, the director now owns 3,008,629 shares in the company, valued at approximately $168,513,310.29. This trade represents a 3.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Katherine Stueland sold 2,731 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $94.73, for a total value of $258,707.63. Following the transaction, the chief executive officer now owns 7,752 shares of the company's stock, valued at approximately $734,346.96. This trade represents a 26.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 139,390 shares of company stock worth $13,043,288 over the last ninety days. 29.60% of the stock is currently owned by corporate insiders.

GeneDx Trading Up 3.6%

WGS traded up $2.43 during mid-day trading on Friday, hitting $69.76. The stock had a trading volume of 182,150 shares, compared to its average volume of 763,169. The stock's fifty day simple moving average is $85.18 and its 200-day simple moving average is $82.34. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -35.51 and a beta of 1.96. GeneDx Holdings Corp. has a 1-year low of $19.16 and a 1-year high of $117.75. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.11 by $0.17. The business had revenue of $87.12 million for the quarter, compared to the consensus estimate of $79.90 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. As a group, research analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

About GeneDx

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.