First Light Asset Management LLC Takes Position in GeneDx Holdings Corp. $WGS

Key Points

• First Light Asset Management acquired 242,927 GeneDx shares worth approximately $15.6 million, representing about 0.82% of the company and 1.4% of the fund’s portfolio. Institutional investors and hedge funds collectively own 61.72% of GeneDx.
• Analyst sentiment remains mixed but leans positive: seven analysts rate the stock a Buy and two rate it a Sell, producing a “Moderate Buy” consensus and an average price target of $87.43. Guggenheim raised its target to $74, while Wells Fargo cut its target to $75 from $155.
• GeneDx shares opened at $59.10, well below their 12-month high of $170.87. The company recently missed quarterly expectations, reporting an adjusted loss of $0.28 per share versus a $0.06 consensus loss and revenue of $102.25 million versus $112.46 million expected.

First Light Asset Management LLC bought a new stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 242,927 shares of the company's stock, valued at approximately $15,601,000. GeneDx makes up approximately 1.4% of First Light Asset Management LLC's holdings, making the stock its 26th largest holding. First Light Asset Management LLC owned approximately 0.82% of GeneDx at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new stake in GeneDx in the fourth quarter valued at approximately $27,000. Fifth Third Bancorp acquired a new position in shares of GeneDx during the first quarter worth approximately $31,000. Quarry LP lifted its holdings in shares of GeneDx by 248.8% in the 3rd quarter. Quarry LP now owns 293 shares of the company's stock worth $32,000 after purchasing an additional 209 shares in the last quarter. Ramirez Asset Management Inc. bought a new position in shares of GeneDx in the 4th quarter worth $33,000. Finally, Greenline Wealth Management LLC acquired a new stake in GeneDx in the 4th quarter valued at $33,000. 61.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. TD Cowen restated a "buy" rating on shares of GeneDx in a research note on Wednesday, July 15th. Weiss Ratings lowered shares of GeneDx from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, June 1st. Zacks Research cut shares of GeneDx from a "hold" rating to a "strong sell" rating in a report on Monday, June 29th. Guggenheim reissued a "buy" rating and set a $74.00 target price (up from $70.00) on shares of GeneDx in a research report on Monday, June 29th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $75.00 target price (down from $155.00) on shares of GeneDx in a research report on Tuesday, May 5th. Seven research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, GeneDx has an average rating of "Moderate Buy" and an average target price of $87.43.

GeneDx Price Performance

Shares of NASDAQ:WGS opened at $59.10 on Monday. The business's 50 day moving average is $58.75 and its 200 day moving average is $72.02. GeneDx Holdings Corp. has a 12-month low of $32.21 and a 12-month high of $170.87. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -22.05 and a beta of 1.90. The company has a quick ratio of 2.95, a current ratio of 3.09 and a debt-to-equity ratio of 0.38.

GeneDx (NASDAQ:WGS - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.22). The company had revenue of $102.25 million during the quarter, compared to analysts' expectations of $112.46 million. GeneDx had a negative net margin of 17.58% and a positive return on equity of 9.15%. During the same period in the previous year, the company posted ($0.23) earnings per share. On average, sell-side analysts forecast that GeneDx Holdings Corp. will post -1 earnings per share for the current fiscal year.

More GeneDx News

Here are the key news stories impacting GeneDx this week:

• Neutral Sentiment: Multiple law firms reiterated that a securities class action has been filed against GeneDx and certain executives, with the case centered on alleged misstatements about the Fabric Genomics acquisition and related synergies. Article: WGS DEADLINE ALERT: GeneDx Holdings Corp. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit- August 3, 2026 Deadline
• Negative Sentiment: Several firms highlighted that investors have until August 3, 2026 to seek lead-plaintiff status, keeping the lawsuit in focus and potentially increasing overhang on the stock. Article: WGS 10-DAY DEADLINE ALERT: GeneDx Holdings Corp. NASDAQ: WGS Investors Urged to Contact Hagens Berman; Securities Fraud Class Action Filed, August 3, 2026 Lead Plaintiff Deadline
• Negative Sentiment: Attorney promotions and investor alerts also pointed to the sharp stock selloff after GeneDx’s May earnings update, which disclosed a large impairment charge and weaker guidance, reinforcing concerns about prior disclosures and fundamentals. Article: Lost Money on GeneDx Holdings Corp. (WGS)? Join Class Action Suit Seeking Recovery - Contact SueWallSt

Insider Activity

In other GeneDx news, CEO Katherine Stueland sold 10,501 shares of the company's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $60.77, for a total value of $638,145.77. Following the completion of the sale, the chief executive officer directly owned 104,372 shares of the company's stock, valued at approximately $6,342,686.44. This represents a 9.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Casdin Capital, Llc acquired 50,000 shares of GeneDx stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $52.86 per share, with a total value of $2,643,000.00. Following the completion of the transaction, the director directly owned 3,707,164 shares in the company, valued at $195,960,689.04. This represents a 1.37% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 2,256,420 shares of company stock worth $93,144,340 and have sold 21,699 shares worth $1,295,646. Insiders own 25.17% of the company's stock.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx's laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.