Driehaus Capital Management LLC Has $40.29 Million Stake in GeneDx Holdings Corp. $WGS

Key Points

• Driehaus Capital Management LLC increased its stake in GeneDx Holdings Corp. by 40%, owning approximately 1.62% of the company, valued at $40.29 million, following a recent stock acquisition.
• Multiple analysts have rated GeneDx stock positively, with upgrades resulting in price targets between $78.00 and $135.00 and an average rating of "Moderate Buy".
• GeneDx reported earnings of $0.50 EPS, significantly exceeding expectations, and guidance for fiscal year 2025 suggests continued positive performance.

Driehaus Capital Management LLC lifted its holdings in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 40.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 454,956 shares of the company's stock after buying an additional 130,038 shares during the quarter. Driehaus Capital Management LLC owned approximately 1.62% of GeneDx worth $40,293,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of WGS. Lazard Asset Management LLC bought a new position in shares of GeneDx in the 4th quarter worth about $35,000. GAMMA Investing LLC lifted its position in GeneDx by 151.7% in the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock valued at $39,000 after purchasing an additional 264 shares during the last quarter. Comerica Bank bought a new stake in GeneDx in the 4th quarter valued at about $50,000. US Bancorp DE lifted its position in GeneDx by 3,223.5% in the 1st quarter. US Bancorp DE now owns 565 shares of the company's stock valued at $50,000 after purchasing an additional 548 shares during the last quarter. Finally, Quarry LP bought a new stake in GeneDx in the 4th quarter valued at about $78,000. 61.72% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Katherine Stueland sold 9,657 shares of GeneDx stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $90.94, for a total value of $878,207.58. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin Feeley sold 5,278 shares of GeneDx stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $93.00, for a total transaction of $490,854.00. Following the completion of the transaction, the chief financial officer directly owned 3,392 shares in the company, valued at approximately $315,456. This trade represents a 60.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 561,263 shares of company stock valued at $67,504,348. 29.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on WGS shares. Piper Sandler set a $120.00 price objective on shares of GeneDx and gave the company an "overweight" rating in a research report on Monday, August 4th. Wells Fargo & Company lifted their price objective on shares of GeneDx from $78.00 to $95.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Jefferies Financial Group upgraded shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a research report on Friday, May 9th. Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Guggenheim restated a "buy" rating and set a $115.00 price target (up from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, GeneDx currently has an average rating of "Moderate Buy" and an average target price of $101.63.

GeneDx Price Performance

Shares of WGS stock traded up $0.60 during midday trading on Wednesday, reaching $128.78. 143,447 shares of the company were exchanged, compared to its average volume of 1,040,001. GeneDx Holdings Corp. has a 12 month low of $28.86 and a 12 month high of $131.00. The company has a market cap of $3.70 billion, a P/E ratio of 2,579.88 and a beta of 2.04. The company's 50 day moving average price is $101.77 and its two-hundred day moving average price is $90.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.70 and a current ratio of 2.87.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.40. The company 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%. GeneDx has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

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.