GeneDx Holdings Corp. (NASDAQ:WGS) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 60.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 106,119 shares of the company's stock after selling 161,495 shares during the period. Assenagon Asset Management S.A. owned 0.38% of GeneDx worth $9,398,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of WGS. Sterling Capital Management LLC lifted its position in GeneDx by 877.8% during the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after acquiring an additional 316 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of GeneDx during the 4th quarter valued at $28,000. Lazard Asset Management LLC purchased a new stake in shares of GeneDx during the 4th quarter valued at $35,000. GAMMA Investing LLC boosted its position in shares of GeneDx by 151.7% in the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after purchasing an additional 264 shares in the last quarter. Finally, Comerica Bank purchased a new position in GeneDx during the 4th quarter worth $50,000. 61.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

GeneDx Stock Performance

WGS traded down $2.85 during trading on Tuesday, reaching $64.04. 610,114 shares of the company's stock were exchanged, compared to its average volume of 786,679. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.25 and a quick ratio of 3.07. GeneDx Holdings Corp. has a 1 year low of $24.91 and a 1 year high of $117.75. The company's fifty day simple moving average is $77.38 and its 200-day simple moving average is $81.68. The stock has a market capitalization of $1.83 billion, a P/E ratio of -45.42 and a beta of 1.94.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.17. GeneDx had a negative net margin of 11.69% and a positive return on equity of 10.17%. The firm had revenue of $87.12 million during the quarter, compared to analysts' expectations of $79.90 million. As a group, research analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at GeneDx

In other news, Director Keith A. Meister purchased 100,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average price of $56.01 per share, for a total transaction of $5,601,000.00. Following the completion of the transaction, the director now owns 3,008,629 shares in the company, valued at $168,513,310.29. This represents a 3.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Katherine Stueland sold 46,594 shares of the stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $89.62, for a total transaction of $4,175,754.28. Following the sale, the chief executive officer now directly owns 1,720 shares in the company, valued at approximately $154,146.40. The trade was a 96.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,319 shares of company stock worth $11,207,272. Insiders own 29.60% of the company's stock.

GeneDx Company 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.