GeneDx Holdings Corp. $WGS Stake Trimmed by Gagnon Securities LLC

Key Points

• Gagnon Securities LLC has reduced its stake in GeneDx Holdings Corp. by 4.8%, owning approximately 271,233 shares, which represents about 5.1% of their investment portfolio.
• GeneDx reported a strong quarterly earnings result with an EPS of $0.50, significantly exceeding the consensus estimate of $0.10, and had revenues of $102.69 million compared to expectations of $86.00 million.
• Several analysts have upgraded their ratings for GeneDx, with Piper Sandler raising the target price from $120.00 to $140.00 and reiterating an "overweight" rating.

Gagnon Securities LLC lessened its holdings in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 271,233 shares of the company's stock after selling 13,678 shares during the period. GeneDx makes up about 5.1% of Gagnon Securities LLC's investment portfolio, making the stock its 5th largest position. Gagnon Securities LLC owned about 0.95% of GeneDx worth $25,038,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of WGS. Chung Wu Investment Group LLC boosted its stake in GeneDx by 8.2% during the second quarter. Chung Wu Investment Group LLC now owns 3,300 shares of the company's stock worth $305,000 after buying an additional 250 shares during the period. GAMMA Investing LLC boosted 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. Palisades Investment Partners LLC boosted its stake in GeneDx by 0.4% during the first quarter. Palisades Investment Partners LLC now owns 83,913 shares of the company's stock worth $7,432,000 after buying an additional 309 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in GeneDx by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company's stock worth $677,000 after buying an additional 453 shares during the period. Finally, US Bancorp DE boosted its stake in GeneDx by 3,223.5% during the first quarter. US Bancorp DE now owns 565 shares of the company's stock worth $50,000 after buying an additional 548 shares during the period. Institutional investors own 61.72% of the company's stock.

GeneDx Trading Up 0.5%

GeneDx stock opened at $120.76 on Wednesday. The company has a current ratio of 2.87, a quick ratio of 2.70 and a debt-to-equity ratio of 0.19. GeneDx Holdings Corp. has a 12 month low of $51.04 and a 12 month high of $136.00. The stock's 50 day simple moving average is $120.11 and its two-hundred day simple moving average is $94.73. The firm has a market cap of $3.47 billion, a PE ratio of 2,415.20 and a beta of 1.98.

GeneDx (NASDAQ:WGS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.10 by $0.40. GeneDx had a return on equity of 16.51% and a net margin of 0.39%.The business had revenue of $102.69 million for the quarter, compared to analyst estimates of $86.00 million. GeneDx has set its FY 2025 guidance at EPS. Analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Wall Street Analyst Weigh In

WGS has been the subject of a number of recent analyst reports. Guggenheim reissued a "buy" rating and set a $115.00 target price (up from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Piper Sandler upped their price objective on shares of GeneDx from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Wall Street Zen raised shares of GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Wells Fargo & Company upped their price objective on shares of GeneDx from $78.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Finally, Zacks Research downgraded shares of GeneDx from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 2nd. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $104.13.

Insider Transactions at GeneDx

In other news, CEO Katherine Stueland sold 10,501 shares of GeneDx stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $121.47, for a total transaction of $1,275,556.47. Following the transaction, the chief executive officer owned 14,578 shares in the company, valued at $1,770,789.66. The trade was a 41.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Feeley sold 3,728 shares of the firm's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $121.47, for a total value of $452,840.16. Following the sale, the chief financial officer directly owned 8,755 shares of the company's stock, valued at $1,063,469.85. The trade was a 29.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 556,371 shares of company stock worth $67,489,314. Company insiders own 29.60% of the company's stock.

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.

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