GeneDx Holdings Corp. (NASDAQ:WGS) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly reduced its stake in GeneDx Holdings Corp. by 49.3%, leaving it with 84,143 shares valued at approximately $7.45 million.
• Multiple institutional investors increased their positions in GeneDx, with notable increases from Vanguard Group (2.5% increase) and Summit Partners (336.9% increase).
• GeneDx has received positive analyst ratings, with eight analysts issuing a buy rating and an average target price of $101.63, showcasing market confidence in the stock's growth prospects.

Connor Clark & Lunn Investment Management Ltd. reduced its position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 49.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,143 shares of the company's stock after selling 81,951 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.30% of GeneDx worth $7,452,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WGS. Ameriprise Financial Inc. purchased a new position in shares of GeneDx during the fourth quarter worth approximately $2,645,000. Envestnet Asset Management Inc. acquired a new stake in GeneDx in the fourth quarter valued at approximately $380,000. Voya Investment Management LLC acquired a new stake in shares of GeneDx during the fourth quarter worth $292,000. GAMMA Investing LLC grew its stake in GeneDx by 22,194.3% during the 1st quarter. GAMMA Investing LLC now owns 38,792 shares of the company's stock valued at $3,436,000 after purchasing an additional 38,618 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of GeneDx by 111.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 190,297 shares of the company's stock valued at $16,097,000 after purchasing an additional 100,146 shares during the period. 61.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WGS has been the topic of a number of research reports. Guggenheim reissued a "buy" rating and issued a $115.00 price objective (up from $88.00) on shares of GeneDx in a report on Monday, June 30th. Wells Fargo & Company lifted their price objective on shares of GeneDx from $78.00 to $95.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Piper Sandler set a $120.00 target price on shares of GeneDx and gave the stock an "overweight" rating in a research note on Monday, August 4th. Wall Street Zen raised shares of GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, TD Securities dropped their price objective on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, GeneDx has a consensus rating of "Moderate Buy" and an average price target of $101.63.

GeneDx Stock Up 2.8%

GeneDx stock traded up $3.48 during mid-day trading on Friday, reaching $126.36. 829,748 shares of the company's stock were exchanged, compared to its average volume of 991,124. The company has a market cap of $3.63 billion, a P/E ratio of 2,527.20 and a beta of 2.02. GeneDx Holdings Corp. has a twelve month low of $28.86 and a twelve month high of $127.36. 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 fifty day moving average of $88.39 and a 200-day moving average of $85.66.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.40. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. The company had revenue of $102.69 million for the quarter, compared to the consensus estimate of $86.00 million. Sell-side analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Buying and Selling

In related news, CEO Katherine Stueland sold 2,154 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $105.31, for a total value of $226,837.74. Following the transaction, the chief executive officer directly owned 3,440 shares of the company's stock, valued at $362,266.40. This trade represents a 38.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin Feeley sold 388 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $105.31, for a total transaction of $40,860.28. Following the completion of the transaction, the chief financial officer owned 3,757 shares of the company's stock, valued at $395,649.67. This represents a 9.36% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,411 shares of company stock worth $2,085,051. Insiders own 29.60% of the company's stock.

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.