GeneDx Holdings Corp. $WGS Stock Position Decreased by William Blair Investment Management LLC

Key Points

• William Blair Investment Management cut its GeneDx stake by 33.7% in the fourth quarter, selling 410,928 shares and ending with 809,210 shares valued at about $105.2 million.
• GeneDx reported weaker-than-expected Q1 results, posting an EPS loss of $0.28 versus the $0.06 loss expected and revenue of $102.25 million versus the $112.46 million consensus.
• Despite recent volatility, Wall Street remains cautiously positive: six analysts rate the stock a Buy, with a consensus rating of Moderate Buy and an average price target of $96.43.

William Blair Investment Management LLC cut its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 33.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 809,210 shares of the company's stock after selling 410,928 shares during the quarter. William Blair Investment Management LLC owned 2.80% of GeneDx worth $105,246,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Arizona State Retirement System boosted its stake in shares of GeneDx by 2.1% during the 4th quarter. Arizona State Retirement System now owns 5,594 shares of the company's stock worth $728,000 after acquiring an additional 113 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of GeneDx by 5.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,702 shares of the company's stock worth $399,000 after acquiring an additional 181 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company's stock worth $25,000 after acquiring an additional 186 shares in the last quarter. Quarry LP boosted its stake in shares of GeneDx by 248.8% during the 3rd quarter. Quarry LP now owns 293 shares of the company's stock worth $32,000 after acquiring an additional 209 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in shares of GeneDx by 9.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,922 shares of the company's stock worth $380,000 after acquiring an additional 246 shares in the last quarter. 61.72% of the stock is owned by institutional investors.

GeneDx Price Performance

Shares of NASDAQ:WGS opened at $47.31 on Friday. The company has a current ratio of 3.09, a quick ratio of 2.95 and a debt-to-equity ratio of 0.38. GeneDx Holdings Corp. has a 1 year low of $32.21 and a 1 year high of $170.87. The business has a fifty day simple moving average of $59.72 and a 200 day simple moving average of $98.90. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -17.65 and a beta of 2.06.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.22). GeneDx had a positive return on equity of 9.15% and a negative net margin of 17.58%.The firm had revenue of $102.25 million for the quarter, compared to analysts' expectations of $112.46 million. During the same quarter in the prior year, the business posted ($0.23) earnings per share. As a group, sell-side analysts predict that GeneDx Holdings Corp. will post -1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WGS has been the subject of a number of research analyst reports. Weiss Ratings upgraded GeneDx from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, May 15th. Piper Sandler restated an "overweight" rating and issued a $130.00 target price (down from $160.00) on shares of GeneDx in a report on Tuesday, February 24th. BTIG Research reduced their target price on GeneDx from $170.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, May 5th. Canaccord Genuity Group set a $75.00 target price on GeneDx and gave the company a "buy" rating in a report on Tuesday, May 5th. Finally, Guggenheim reduced their target price on GeneDx from $100.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.43.

Insider Buying and Selling

In other news, Director Keith A. Meister acquired 46,273 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of $38.91 per share, for a total transaction of $1,800,482.43. Following the completion of the acquisition, the director owned 4,784,570 shares in the company, valued at approximately $186,167,618.70. The trade was a 0.98% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Casdin Capital, Llc acquired 140,000 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $43.81 per share, with a total value of $6,133,400.00. Following the completion of the acquisition, the director owned 3,507,164 shares of the company's stock, valued at $153,648,854.84. This represents a 4.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 2,225,941 shares of company stock worth $95,494,951 and sold 104,028 shares worth $7,377,165. 29.60% of the stock is owned by corporate insiders.

GeneDx Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx's laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.

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