Legal Advantage Investments Inc. Raises Position in GeneDx Holdings Corp. $WGS

Key Points

• Legal Advantage Investments Inc. raised its stake in GeneDx Holdings Corp. by 48.4% during the 1st quarter, now holding about 50,600 shares valued at approximately $4.48 million.
• Several research firms have upgraded their ratings on GeneDx, with a total of seven analysts rating it as a buy and an average price target of $101.63.
• GeneDx reported a significant earnings beat in its latest quarter, posting $0.50 EPS on revenues of $102.69 million, exceeding expectations of $86 million.

Legal Advantage Investments Inc. raised its position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 48.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,600 shares of the company's stock after buying an additional 16,500 shares during the period. GeneDx accounts for 2.4% of Legal Advantage Investments Inc.'s investment portfolio, making the stock its 13th biggest holding. Legal Advantage Investments Inc. owned 0.18% of GeneDx worth $4,481,000 at the end of the most recent quarter.

Other institutional investors and hedge funds 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% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after purchasing an additional 316 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of GeneDx during the 4th quarter worth approximately $35,000. GAMMA Investing LLC increased its stake in shares of GeneDx by 151.7% during the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after purchasing an additional 264 shares during the last quarter. Comerica Bank purchased a new stake in shares of GeneDx during the 4th quarter worth approximately $50,000. Finally, US Bancorp DE increased its stake in shares of GeneDx by 3,223.5% during the 1st quarter. US Bancorp DE now owns 565 shares of the company's stock worth $50,000 after purchasing an additional 548 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WGS. Wells Fargo & Company raised their price target 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. Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. TD Securities cut their price objective on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Piper Sandler set a $120.00 price objective on shares of GeneDx and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, Jefferies Financial Group raised shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a report on Friday, May 9th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $101.63.

Insiders Place Their Bets

In other news, CEO Katherine Stueland sold 2,154 shares of GeneDx stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $105.31, for a total transaction of $226,837.74. Following the completion of the sale, the chief executive officer directly owned 3,440 shares of the company's stock, valued at approximately $362,266.40. The trade was a 38.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Feeley sold 388 shares of GeneDx stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $105.31, for a total transaction of $40,860.28. Following the sale, the chief financial officer directly owned 3,757 shares of the company's stock, valued at $395,649.67. This represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,411 shares of company stock valued at $2,085,051 over the last ninety days. 29.60% of the stock is currently owned by insiders.

GeneDx Price Performance

NASDAQ:WGS traded down $5.25 during trading hours on Tuesday, hitting $120.65. The stock had a trading volume of 845,237 shares, compared to its average volume of 1,065,723. GeneDx Holdings Corp. has a one year low of $28.86 and a one year high of $127.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.87 and a quick ratio of 2.70. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 2,413.00 and a beta of 2.02. The company has a 50 day simple moving average of $89.46 and a two-hundred day simple moving average of $86.14.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $86.00 million. GeneDx has set its FY 2025 guidance at EPS. Research analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

GeneDx 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.