GeneDx Holdings Corp. (NASDAQ:WGS) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC reduced its holdings in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 15.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,287 shares of the company's stock after selling 4,404 shares during the quarter. Legato Capital Management LLC owned approximately 0.08% of GeneDx worth $2,062,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in WGS. Sterling Capital Management LLC increased its stake in GeneDx by 877.8% during the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after acquiring an additional 316 shares during the last quarter. GAMMA Investing LLC grew its stake 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 buying an additional 264 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of GeneDx in the fourth quarter worth $35,000. Comerica Bank acquired a new stake in shares of GeneDx in the fourth quarter worth $50,000. Finally, KBC Group NV acquired a new stake in shares of GeneDx in the first quarter worth $81,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GeneDx

In other GeneDx news, Director Keith A. Meister purchased 100,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average cost of $56.01 per share, for a total transaction of $5,601,000.00. Following the transaction, the director directly owned 3,008,629 shares in the company, valued at approximately $168,513,310.29. The trade was a 3.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Katherine Stueland sold 3,220 shares of the firm's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $93.00, for a total value of $299,460.00. Following the completion of the transaction, the chief executive officer owned 1,720 shares in the company, valued at approximately $159,960. This represents a 65.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,411 shares of company stock worth $2,104,828 over the last three months. Company insiders own 29.60% of the company's stock.

GeneDx Stock Performance

Shares of WGS opened at $80.90 on Wednesday. The company has a market capitalization of $2.31 billion, a PE ratio of -57.38 and a beta of 2.01. GeneDx Holdings Corp. has a one year low of $25.32 and a one year high of $117.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.25 and a quick ratio of 3.07. The company's fifty day moving average price is $75.50 and its 200 day moving average price is $82.85.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.11 by $0.17. GeneDx had a positive return on equity of 10.17% and a negative net margin of 11.69%. The company had revenue of $87.12 million for the quarter, compared to the consensus estimate of $79.90 million. As a group, analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Analysts Set New Price Targets

WGS has been the subject of a number of recent analyst reports. Guggenheim reaffirmed a "buy" rating and set a $115.00 price target (up from $88.00) on shares of GeneDx in a report on Monday, June 30th. Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research note on Friday, May 9th. Wells Fargo & Company decreased their price target on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. TD Securities decreased their price target on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Piper Sandler began coverage on shares of GeneDx in a report on Wednesday, July 9th. They set an "overweight" rating and a $110.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.33.

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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