EFG Asset Management North America Corp. Buys Shares of 11,013 GeneDx Holdings Corp. $WGS

Key Points

• EFG Asset Management North America Corp. made a new investment of $975,000 in GeneDx Holdings Corp., acquiring 11,013 shares according to a recent SEC filing.
• GeneDx reported earnings of $0.50 per share for the last quarter, exceeding estimates and generating revenue of $102.69 million.
• Insider trading activity revealed significant sales by key directors, with over $67.5 million worth of shares sold in the past 90 days, indicating potential shifts in company ownership dynamics.

EFG Asset Management North America Corp. acquired a new position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,013 shares of the company's stock, valued at approximately $975,000.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of GeneDx by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 1,031,326 shares of the company's stock worth $91,339,000 after acquiring an additional 25,116 shares in the last quarter. Summit Partners Public Asset Management LLC grew its position in GeneDx by 336.9% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock valued at $58,073,000 after purchasing an additional 582,619 shares during the last quarter. Fred Alger Management LLC grew its position in GeneDx by 38.5% during the 4th quarter. Fred Alger Management LLC now owns 546,054 shares of the company's stock valued at $41,970,000 after purchasing an additional 151,824 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in GeneDx during the 1st quarter valued at about $44,614,000. Finally, Zweig DiMenna Associates LLC grew its position in GeneDx by 47.7% during the 1st quarter. Zweig DiMenna Associates LLC now owns 457,100 shares of the company's stock valued at $40,483,000 after purchasing an additional 147,600 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

GeneDx Trading Down 1.5%

NASDAQ WGS traded down $1.83 on Wednesday, hitting $124.14. 294,788 shares of the stock were exchanged, compared to its average volume of 1,024,596. The firm has a market capitalization of $3.57 billion, a P/E ratio of 2,484.20 and a beta of 2.04. GeneDx Holdings Corp. has a 52-week low of $33.77 and a 52-week high of $136.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.70 and a current ratio of 2.87. The stock has a fifty day moving average price of $105.63 and a two-hundred day moving average price of $91.37.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.40. The firm had revenue of $102.69 million during the quarter, compared to analyst estimates 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. Research analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Activity

In other GeneDx news, Director Jason Ryan sold 38,072 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $127.30, for a total value of $4,846,565.60. Following the completion of the transaction, the director directly owned 103,284 shares in the company, valued at approximately $13,148,053.20. The trade was a 26.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Feeley sold 5,278 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $93.00, for a total value of $490,854.00. Following the completion of the sale, the chief financial officer owned 3,392 shares in the company, valued at approximately $315,456. This represents a 60.88% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 561,641 shares of company stock valued at $67,551,904. Company insiders own 29.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WGS shares. Wells Fargo & Company increased their price objective on shares of GeneDx from $78.00 to $95.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Piper Sandler set a $120.00 price target on shares of GeneDx and gave the company an "overweight" rating in a report on Monday, August 4th. Guggenheim reaffirmed a "buy" rating and set a $115.00 price target (up previously from $88.00) on shares of GeneDx in a report on Monday, June 30th. Finally, Wall Street Zen raised shares of GeneDx from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $101.63.

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.