GeneDx Holdings Corp. $WGS is Bosun Asset Management LLC's 2nd Largest Position

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 position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 26.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,776 shares of the company's stock after selling 31,498 shares during the quarter. GeneDx accounts for approximately 3.3% of Bosun Asset Management LLC's holdings, making the stock its 2nd biggest holding. Bosun Asset Management LLC owned 0.30% of GeneDx worth $7,597,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Guggenheim reissued a "buy" rating and issued a $115.00 price target (up from $88.00) on shares of GeneDx in a report on Monday, June 30th. Piper Sandler set a $120.00 target price on shares of GeneDx and gave the company an "overweight" rating in a research note on Monday, August 4th. Wall Street Zen raised shares of GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Wells Fargo & Company lifted 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. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $101.63.

GeneDx Trading Down 1.8%

Shares of WGS stock traded down $2.30 during trading hours on Tuesday, hitting $127.03. 152,624 shares of the company were exchanged, compared to its average volume of 1,027,880. The firm has a fifty day moving average of $104.92 and a 200 day moving average of $91.12. The company has a quick ratio of 2.70, a current ratio of 2.87 and a debt-to-equity ratio of 0.19. GeneDx Holdings Corp. has a 1 year low of $32.11 and a 1 year high of $136.00. The firm has a market cap of $3.65 billion, a PE ratio of 2,534.04 and a beta of 2.03.

GeneDx (NASDAQ:WGS - Get Free Report) last released its 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 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. Analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Transactions at GeneDx

In other GeneDx news, Director Casdin Capital, Llc sold 500,000 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $120.90, for a total transaction of $60,450,000.00. Following the completion of the sale, the director directly owned 3,007,164 shares in the company, valued at $363,566,127.60. This represents a 14.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Katherine Stueland sold 2,154 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $105.31, for a total value of $226,837.74. Following the completion of the transaction, the chief executive officer owned 3,440 shares in the company, valued at approximately $362,266.40. This trade represents a 38.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 561,641 shares of company stock worth $67,551,904 in the last three months. 29.60% of the stock is currently owned by insiders.

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.