GeneDx Holdings Corp. $WGS Shares Sold by Bosun Asset Management LLC

Key Points

• Bosun Asset Management LLC reduced its stake in GeneDx Holdings Corp. by 26.9%, selling 31,498 shares to hold 85,776 shares, which now represent about 3.3% of its total portfolio.
• Several institutional investors significantly increased their positions in GeneDx, with Summit Partners Public Asset Management LLC boosting its holdings by 336.9%, now owning over 755,000 shares.
• GeneDx reported an EPS of $0.50 for the last quarter, exceeding estimates, while also achieving revenues of $102.69 million, up from a consensus estimate of $86 million.

Bosun Asset Management LLC lowered its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 26.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,776 shares of the company's stock after selling 31,498 shares during the period. GeneDx makes up about 3.3% of Bosun Asset Management LLC's holdings, making the stock its 2nd biggest position. Bosun Asset Management LLC owned 0.30% of GeneDx worth $7,597,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Summit Partners Public Asset Management LLC increased its holdings in GeneDx by 336.9% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock worth $58,073,000 after purchasing an additional 582,619 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in GeneDx during the first quarter worth $44,614,000. Alliancebernstein L.P. raised its position in GeneDx by 3,054.5% in the 1st quarter. Alliancebernstein L.P. now owns 436,900 shares of the company's stock valued at $38,694,000 after buying an additional 423,050 shares during the last quarter. Wellington Management Group LLP lifted its stake in GeneDx by 202.3% during the 1st quarter. Wellington Management Group LLP now owns 425,647 shares of the company's stock valued at $37,697,000 after acquiring an additional 284,855 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of GeneDx in the 1st quarter worth $23,877,000. Institutional investors and hedge funds own 61.72% of the company's stock.

Insiders Place Their Bets

In other news, Director Jason Ryan sold 38,072 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $127.30, for a total transaction of $4,846,565.60. Following the completion of the transaction, the director owned 103,284 shares of the company's stock, valued at approximately $13,148,053.20. The trade was a 26.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Katherine Stueland sold 9,657 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was 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 approximately $449,243.60. This represents a 66.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 561,641 shares of company stock valued at $67,551,904 over the last 90 days. 29.60% of the stock is owned by insiders.

GeneDx Price Performance

WGS stock opened at $127.22 on Thursday. The firm has a 50 day moving average of $102.54 and a 200-day moving average of $90.60. 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 firm has a market capitalization of $3.66 billion, a P/E ratio of 2,544.40 and a beta of 2.04. GeneDx Holdings Corp. has a 12 month low of $28.86 and a 12 month high of $131.00.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.10 by $0.40. The firm had revenue of $102.69 million during the quarter, compared to the consensus estimate 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. As a group, sell-side analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.