GeneDx Holdings Corp. (NASDAQ:WGS) is Gagnon Securities LLC's 5th Largest Position

Key Points

• Gagnon Securities LLC reduced its stake in GeneDx Holdings Corp. by 20.7%, now holding approximately 5.6% of its portfolio, which equates to $25.23 million.
• Several institutional investors have increased their holdings in GeneDx, with Vanguard Group raising its stake by 18.5% to 1 million shares valued at $77.34 million.
• Analysts have a consensus rating of "Moderate Buy" for GeneDx, with a price target averaging $101.63 per share, reflecting recent upgrades from various research firms.

Gagnon Securities LLC trimmed its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 20.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,911 shares of the company's stock after selling 74,465 shares during the quarter. GeneDx makes up about 5.6% of Gagnon Securities LLC's portfolio, making the stock its 5th biggest holding. Gagnon Securities LLC owned 1.02% of GeneDx worth $25,233,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WGS. LPL Financial LLC acquired a new stake in GeneDx in the 4th quarter valued at $2,738,000. Vanguard Group Inc. grew its stake in GeneDx by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company's stock valued at $77,337,000 after acquiring an additional 156,768 shares during the period. JPMorgan Chase & Co. grew its stake in GeneDx by 106.8% in the 4th quarter. JPMorgan Chase & Co. now owns 107,891 shares of the company's stock valued at $8,293,000 after acquiring an additional 55,730 shares during the period. Norges Bank acquired a new stake in GeneDx in the 4th quarter valued at $5,226,000. Finally, Pictet Asset Management Holding SA acquired a new stake in GeneDx in the 4th quarter valued at $222,000. Institutional investors and hedge funds own 61.72% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on WGS. Guggenheim reissued a "buy" rating and issued a $115.00 price target (up previously from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Jefferies Financial Group raised shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research note on Friday, May 9th. TD Securities lowered their target price on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company lifted their target price on shares of GeneDx from $78.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 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. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $101.63.

Insider Activity

In other news, CFO Kevin Feeley sold 5,278 shares of the business's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $93.00, for a total transaction of $490,854.00. Following the transaction, the chief financial officer owned 3,392 shares of the company's stock, valued at approximately $315,456. The trade was a 60.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Katherine Stueland sold 9,657 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $90.94, for a total transaction of $878,207.58. Following the transaction, the chief executive officer directly owned 4,940 shares in the company, valued at approximately $449,243.60. The trade was a 66.16% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,411 shares of company stock worth $2,085,051. Corporate insiders own 29.60% of the company's stock.

GeneDx Trading Down 0.8%

Shares of WGS stock opened at $105.85 on Thursday. The company's 50-day moving average price is $82.21 and its 200-day moving average price is $83.73. The company has a current ratio of 2.87, a quick ratio of 2.70 and a debt-to-equity ratio of 0.19. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 2,117.00 and a beta of 2.02. GeneDx Holdings Corp. has a twelve month low of $28.45 and a twelve month high of $117.75.

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

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.

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