20,511 GeneDx Holdings Corp. $WGS Shares Acquired by Moody Aldrich Partners LLC

Key Points

• Moody Aldrich Partners increased its GeneDx stake by 131.9% in the third quarter, acquiring 20,511 shares and bringing its holdings to 36,064 shares worth approximately $2.6 million. Institutional investors collectively own 61.72% of WGS.
• Analysts maintain a generally positive view, with seven Buy ratings, one Hold and one Sell; GeneDx has an average “Moderate Buy” rating and a consensus price target of $90.86.
• GeneDx exceeded quarterly expectations, reporting $0.01 in earnings per share versus a projected $0.19 loss and revenue of $114.44 million versus estimates of $111.01 million. However, the company remains unprofitable, with a negative net margin of 23.41%.

Moody Aldrich Partners LLC boosted its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 131.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,064 shares of the company's stock after acquiring an additional 20,511 shares during the period. Moody Aldrich Partners LLC owned approximately 0.12% of GeneDx worth $2,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WGS. First Light Asset Management LLC grew its stake in GeneDx by 222.7% in the second quarter. First Light Asset Management LLC now owns 783,923 shares of the company's stock valued at $53,816,000 after acquiring an additional 540,996 shares during the period. Amova Asset Management Americas Inc. lifted its holdings in shares of GeneDx by 67.3% during the 1st quarter. Amova Asset Management Americas Inc. now owns 638,800 shares of the company's stock valued at $41,024,000 after purchasing an additional 257,075 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of GeneDx by 65.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 633,457 shares of the company's stock valued at $40,681,000 after purchasing an additional 251,732 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of GeneDx by 108.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 632,413 shares of the company's stock valued at $45,723,000 after purchasing an additional 328,980 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of GeneDx by 2.0% during the 2nd quarter. Wellington Management Group LLP now owns 347,927 shares of the company's stock valued at $23,885,000 after purchasing an additional 6,922 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on WGS shares. Wall Street Zen upgraded GeneDx from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Guggenheim raised their target price on shares of GeneDx from $74.00 to $83.00 and gave the stock a "buy" rating in a report on Thursday, October 1st. TD Cowen reaffirmed a "buy" rating on shares of GeneDx in a research note on Wednesday, July 15th. Weiss Ratings raised shares of GeneDx from a "sell (e+)" rating to a "sell (d)" rating in a research note on Tuesday, August 4th. Finally, Canaccord Genuity Group upped their price target on shares of GeneDx from $75.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Seven 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 MarketBeat.com, GeneDx has an average rating of "Moderate Buy" and an average price target of $90.86.

GeneDx Trading Up 3.1%

NASDAQ WGS opened at $64.69 on Thursday. GeneDx Holdings Corp. has a 52 week low of $32.21 and a 52 week high of $170.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.06 and a current ratio of 3.30. The stock's 50 day moving average price is $79.48 and its two-hundred day moving average price is $72.91. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -17.77 and a beta of 1.95.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.20. The company had revenue of $114.44 million during the quarter, compared to analysts' expectations of $111.01 million. GeneDx had a negative net margin of 23.41% and a positive return on equity of 4.12%. During the same period last year, the business earned $0.36 EPS. As a group, analysts anticipate that GeneDx Holdings Corp. will post -0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GeneDx news, CFO Kevin Feeley sold 3,728 shares of the business's stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $97.61, for a total transaction of $363,890.08. Following the sale, the chief financial officer directly owned 44,945 shares of the company's stock, valued at $4,387,081.45. The trade was a 7.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Katherine Stueland sold 10,501 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $97.61, for a total transaction of $1,025,002.61. Following the transaction, the chief executive officer owned 115,476 shares of the company's stock, valued at approximately $11,271,612.36. This represents a 8.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 19,206 shares of company stock valued at $1,808,056. 25.17% of the stock is owned by insiders.

GeneDx Company Profile

GeneDx Holdings Corp., doing business as GeneDx, is a genomic diagnostics company that provides genetic testing and interpretation services for patients with suspected rare and inherited conditions. The company combines sequencing technologies with clinical expertise and data analysis to help healthcare professionals identify genetic causes of disease and support diagnosis, treatment planning and patient management.

GeneDx's offerings include whole exome and whole genome sequencing, as well as targeted testing for specific genetic disorders and hereditary cancer conditions.

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