Gagnon Advisors LLC Lowers Stock Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

Key Points

• Gagnon Advisors LLC has reduced its holdings in GeneDx Holdings Corp. by 32.3%, now owning 127,062 shares, which constitutes 7.9% of its portfolio, making it the firm's second-largest position.
• Several institutional investors have made significant adjustments to their stakes in GeneDx, with US Bancorp DE increasing its position by a staggering 3,223.5%.
• GeneDx received multiple upgrades from analysts, with Jefferies Financial Group lifting its rating to "buy" and setting a price target of $80.00, while seven analysts have issued a buy rating overall.

Gagnon Advisors LLC decreased its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 32.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,062 shares of the company's stock after selling 60,556 shares during the quarter. GeneDx makes up about 7.9% of Gagnon Advisors LLC's investment portfolio, making the stock its 2nd biggest holding. Gagnon Advisors LLC owned 0.45% of GeneDx worth $11,253,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its stake in shares of GeneDx by 877.8% in the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after acquiring an additional 316 shares in the last quarter. Lazard Asset Management LLC bought a new position in GeneDx during the fourth quarter worth about $35,000. GAMMA Investing LLC boosted its position in GeneDx by 151.7% during the first 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. Comerica Bank purchased a new stake in shares of GeneDx in the fourth quarter worth about $50,000. Finally, US Bancorp DE raised its stake in GeneDx by 3,223.5% in the first quarter. US Bancorp DE now owns 565 shares of the company's stock valued at $50,000 after purchasing an additional 548 shares in the last quarter. Institutional investors and hedge funds own 61.72% of the company's stock.

Insider Buying and Selling at GeneDx

In other news, CEO Katherine Stueland sold 9,657 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $90.94, for a total transaction of $878,207.58. Following the completion of the sale, the chief executive officer directly owned 4,940 shares of the company's stock, valued at $449,243.60. This trade represents a 66.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin Feeley sold 5,278 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was 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 directly owned 3,392 shares of the company's stock, valued at approximately $315,456. This trade represents a 60.88% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,411 shares of company stock worth $2,085,051. 29.60% of the stock is owned by insiders.

GeneDx Trading Up 4.4%

NASDAQ:WGS traded up $4.87 on Tuesday, hitting $115.41. 309,357 shares of the stock were exchanged, compared to its average volume of 1,072,735. The company has a current ratio of 2.87, a quick ratio of 2.70 and a debt-to-equity ratio of 0.19. GeneDx Holdings Corp. has a fifty-two week low of $28.86 and a fifty-two week high of $117.75. The stock has a market cap of $3.32 billion, a PE ratio of 2,312.40 and a beta of 2.02. The stock has a fifty day moving average of $84.34 and a 200-day moving average of $84.51.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings results 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 return on equity of 16.51% and a net margin of 0.39%. The firm had revenue of $102.69 million during the quarter, compared to the consensus estimate of $86.00 million. As a group, equities analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WGS. TD Securities lowered their price objective on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Jefferies Financial Group raised GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research report on Friday, May 9th. Guggenheim restated a "buy" rating and set a $115.00 price target (up from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Piper Sandler set a $120.00 target price on shares of GeneDx and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Wells Fargo & Company upped their target price 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. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, GeneDx has a consensus rating of "Moderate Buy" and an average price target of $101.63.

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.