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

Assenagon Asset Management S.A. cut its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 60.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of GeneDx by 151.7% during the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after purchasing an additional 264 shares during the period. Sterling Capital Management LLC boosted its stake in shares of GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after purchasing an additional 316 shares during the period. Global Retirement Partners LLC purchased a new position in shares of GeneDx during the 4th quarter worth about $28,000. MetLife Investment Management LLC raised its holdings in shares of GeneDx by 6.2% in the fourth quarter. MetLife Investment Management LLC now owns 7,750 shares of the company's stock worth $596,000 after buying an additional 453 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in shares of GeneDx in the fourth quarter worth approximately $35,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

GeneDx Trading Down 2.7%

WGS traded down $1.80 during trading on Friday, hitting $64.57. 491,417 shares of the stock were exchanged, compared to its average volume of 783,250. The firm has a 50 day simple moving average of $78.43 and a 200 day simple moving average of $81.85. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -32.94 and a beta of 1.94. GeneDx Holdings Corp. has a 1 year low of $24.91 and a 1 year high of $117.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40.

GeneDx (NASDAQ:WGS - Get Free Report) last released 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. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The company had revenue of $87.12 million for the quarter, compared to the consensus estimate of $79.90 million. As a group, equities analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WGS shares. Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a report on Friday, May 9th. TD Securities reduced their price target on GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Guggenheim started coverage on GeneDx in a report on Thursday, May 15th. They issued a "buy" rating and a $88.00 price target on the stock. 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 report on Thursday, May 1st. Finally, The Goldman Sachs Group increased their price target on GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $86.75.

Insider Activity

In other GeneDx news, Director Keith A. Meister bought 100,000 shares of GeneDx stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average cost of $56.01 per share, with a total value of $5,601,000.00. Following the transaction, the director now directly owns 3,008,629 shares of the company's stock, valued at approximately $168,513,310.29. This represents a 3.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Feeley sold 3,749 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $96.71, for a total value of $362,565.79. Following the completion of the sale, the chief financial officer now directly owns 8,492 shares of the company's stock, valued at approximately $821,261.32. This represents a 30.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,627 shares of company stock worth $12,590,999. 29.60% of the stock is currently owned by company insiders.

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.