Allspring Global Investments Holdings LLC Sells 184,306 Shares of GeneDx Holdings Corp. $WGS

Key Points

• Allspring Global Investments Holdings LLC sold 184,306 shares of GeneDx, reducing its stake by 96.9%, leaving it with only 5,991 shares valued at $541,000.
• GeneDx reported $0.50 EPS in its latest earnings, surpassing estimates, and achieved revenue of $102.69 million, exceeding expectations by $16.69 million.
• Insider transactions showed significant selling, with Director Jason Ryan selling 38,072 shares and CFO Kevin Feeley selling 3,728 shares, indicating a decrease in their ownership by 26.93% and 29.86%, respectively.

Allspring Global Investments Holdings LLC decreased its position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 96.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,991 shares of the company's stock after selling 184,306 shares during the period. Allspring Global Investments Holdings LLC's holdings in GeneDx were worth $541,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in GeneDx by 151.7% in the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock valued at $39,000 after acquiring an additional 264 shares in the last quarter. US Bancorp DE increased its position in shares of GeneDx by 3,223.5% during the 1st quarter. US Bancorp DE now owns 565 shares of the company's stock worth $50,000 after purchasing an additional 548 shares during the last quarter. KBC Group NV acquired a new position in shares of GeneDx during the 1st quarter worth approximately $81,000. PNC Financial Services Group Inc. acquired a new position in shares of GeneDx during the 1st quarter worth approximately $132,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of GeneDx by 184.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,224 shares of the company's stock worth $197,000 after purchasing an additional 1,443 shares during the last quarter. Institutional investors own 61.72% of the company's stock.

GeneDx Trading Up 3.0%

Shares of WGS stock opened at $128.87 on Friday. The firm has a 50 day moving average price of $123.22 and a two-hundred day moving average price of $97.65. The company has a quick ratio of 2.70, a current ratio of 2.87 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $3.70 billion, a PE ratio of 2,577.40 and a beta of 1.98. GeneDx Holdings Corp. has a 12-month low of $55.17 and a 12-month high of $136.00.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.40. The firm had revenue of $102.69 million during the quarter, compared to the consensus estimate of $86.00 million. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. GeneDx has set its FY 2025 guidance at EPS. As a group, analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Transactions at GeneDx

In other GeneDx news, Director Jason Ryan sold 38,072 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $127.30, for a total value of $4,846,565.60. Following the transaction, the director directly owned 103,284 shares of the company's stock, valued at $13,148,053.20. This represents a 26.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kevin Feeley sold 3,728 shares of the company's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $121.47, for a total value of $452,840.16. Following the completion of the transaction, the chief financial officer directly owned 8,755 shares in the company, valued at approximately $1,063,469.85. This represents a 29.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 556,371 shares of company stock valued at $67,489,314. Corporate insiders own 29.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on WGS shares. Weiss Ratings reaffirmed a "sell (d)" rating on shares of GeneDx in a research report on Friday. BTIG Research boosted their price target on GeneDx from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on GeneDx from $78.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Zacks Research lowered GeneDx from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 2nd. Finally, Canaccord Genuity Group set a $155.00 price target on GeneDx and gave the stock a "buy" rating in a research report on Monday. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, GeneDx has an average rating of "Moderate Buy" and a consensus price target of $112.80.

GeneDx Profile

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.

Want to see what other hedge funds are holding WGS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GeneDx Holdings Corp. (NASDAQ:WGS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.