Informed Momentum Co LLC Sells 9,737 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Key Points

• Informed Momentum Co LLC reduced its position in GeneDx Holdings Corp. by 19.0%, owning approximately 0.15% of the company after selling 9,737 shares in the first quarter.
• CEO Katherine Stueland and CFO Kevin Feeley both sold shares, with Stueland's transaction representing a 66.16% decrease in her position.
• Analysts have largely rated GeneDx positively, with an overwhelming majority giving it a "buy" rating, raising the consensus price target to approximately $101.63.

Informed Momentum Co LLC decreased its stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 19.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,446 shares of the company's stock after selling 9,737 shares during the period. Informed Momentum Co LLC owned about 0.15% of GeneDx worth $3,671,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in WGS. Sterling Capital Management LLC raised its position in GeneDx by 877.8% in 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 period. Lazard Asset Management LLC purchased a new position in GeneDx in the 4th quarter worth $35,000. GAMMA Investing LLC raised its position in GeneDx by 151.7% in 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 period. Comerica Bank purchased a new position in GeneDx in the 4th quarter worth $50,000. Finally, US Bancorp DE raised its position in GeneDx by 3,223.5% in 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 period. Institutional investors own 61.72% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Guggenheim reissued a "buy" rating and issued a $115.00 price target (up previously from $88.00) on shares of GeneDx in a report on Monday, June 30th. TD Securities cut their price target on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Jefferies Financial Group raised shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a report on Friday, May 9th. 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 report on Wednesday, July 30th. Finally, Piper Sandler set a $120.00 price target on shares of GeneDx and gave the stock an "overweight" rating in a report on Monday, August 4th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $101.63.

Insider Activity

In other news, CEO Katherine Stueland sold 9,657 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $90.94, for a total transaction of $878,207.58. Following the completion of the transaction, the chief executive officer directly owned 4,940 shares of the company's stock, valued at $449,243.60. The trade was a 66.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Feeley sold 5,278 shares of the business's stock in a transaction that occurred on 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 directly owned 3,392 shares of the company's stock, valued at $315,456. The trade was a 60.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,411 shares of company stock valued at $2,085,051 over the last ninety days. Corporate insiders own 29.60% of the company's stock.

GeneDx Stock Up 2.8%

NASDAQ WGS traded up $3.48 during trading hours on Friday, reaching $126.36. 829,374 shares of the company's stock traded hands, compared to its average volume of 1,070,146. GeneDx Holdings Corp. has a 52-week low of $28.86 and a 52-week high of $127.36. The firm has a market cap of $3.63 billion, a PE ratio of 2,527.20 and a beta of 2.02. The firm has a 50-day simple moving average of $87.30 and a 200 day simple moving average of $85.33. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.87 and a quick ratio of 2.70.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.40. The company had revenue of $102.69 million during 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%. Sell-side analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS 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.