FORA Capital LLC Makes New $420,000 Investment in GeneDx Holdings Corp. $WGS

Key Points

• FORA Capital LLC has acquired a new stake in GeneDx Holdings Corp., purchasing 4,738 shares valued at approximately $420,000.
• Insiders have recently sold 561,633 shares of GeneDx stock, totaling about $67.5 million in transactions over the last three months.
• Equity analysts have upgraded GeneDx from "hold" to "buy," with several raising their target prices, indicating a positive outlook on the stock.

FORA Capital LLC purchased a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,738 shares of the company's stock, valued at approximately $420,000.

Several other institutional investors and hedge funds have also modified their holdings of WGS. Summit Partners Public Asset Management LLC increased its stake in shares of GeneDx by 336.9% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock worth $58,073,000 after purchasing an additional 582,619 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of GeneDx in the first quarter worth $44,614,000. Wellington Management Group LLP increased its stake in shares of GeneDx by 202.3% in the first quarter. Wellington Management Group LLP now owns 425,647 shares of the company's stock worth $37,697,000 after purchasing an additional 284,855 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of GeneDx in the first quarter worth $23,877,000. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of GeneDx in the first quarter worth $19,704,000. Hedge funds and other institutional investors own 61.72% of the company's stock.

Insiders Place Their Bets

In other GeneDx news, Director Casdin Capital, Llc sold 500,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $120.90, for a total value of $60,450,000.00. Following the sale, the director owned 3,007,164 shares in the company, valued at $363,566,127.60. This trade represents a 14.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Katherine Stueland sold 2,154 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $105.31, for a total value of $226,837.74. Following the completion of the sale, the chief executive officer owned 3,440 shares in the company, valued at approximately $362,266.40. The trade was a 38.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 561,263 shares of company stock worth $67,504,348. 29.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Piper Sandler set a $120.00 target price on shares of GeneDx and gave the stock an "overweight" rating in a research report on Monday, August 4th. Jefferies Financial Group raised shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research note on Friday, May 9th. Wells Fargo & Company upped their price target on shares of GeneDx from $78.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Guggenheim reaffirmed a "buy" rating and set a $115.00 price target (up previously from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Finally, Wall Street Zen raised shares of GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.63.

GeneDx Trading Down 0.2%

NASDAQ WGS traded down $0.30 on Tuesday, hitting $129.20. 277,286 shares of the stock were exchanged, compared to its average volume of 1,044,620. 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 $101.02 and a two-hundred day moving average price of $90.08. The firm has a market capitalization of $3.71 billion, a P/E ratio of 2,576.54 and a beta of 2.03. GeneDx Holdings Corp. has a 52-week low of $28.86 and a 52-week high of $131.00.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $86.00 million. 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.

About GeneDx

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.