Goldman Sachs Group Inc. Has $96.48 Million Position in GeneDx Holdings Corp. $WGS

Key Points

• Goldman Sachs Group Inc. reduced its stake in GeneDx Holdings Corp. by 4.7%, now owning approximately 1,089,384 shares valued at $96.5 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for GeneDx, with target prices ranging from $95.00 to $140.00 set by various firms.
• Insider transactions indicate significant selling activity, with insiders offloading 561,641 shares valued at over $67.5 million in the past ninety days.

Goldman Sachs Group Inc. cut its position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,089,384 shares of the company's stock after selling 54,107 shares during the period. Goldman Sachs Group Inc. owned about 3.82% of GeneDx worth $96,481,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Scientech Research LLC acquired a new stake in GeneDx in the first quarter worth $675,000. Polar Asset Management Partners Inc. raised its holdings in GeneDx by 49.0% in the first quarter. Polar Asset Management Partners Inc. now owns 19,520 shares of the company's stock worth $1,729,000 after purchasing an additional 6,420 shares during the period. NewEdge Advisors LLC raised its holdings in GeneDx by 270,700.0% in the first quarter. NewEdge Advisors LLC now owns 2,708 shares of the company's stock worth $240,000 after purchasing an additional 2,707 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in GeneDx by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company's stock worth $677,000 after purchasing an additional 453 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in GeneDx in the first quarter worth $488,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Stock Performance

NASDAQ WGS traded up $2.79 during trading on Thursday, reaching $130.71. The company's stock had a trading volume of 482,002 shares, compared to its average volume of 533,473. 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 $3.76 billion, a price-to-earnings ratio of 2,614.20 and a beta of 2.04. GeneDx Holdings Corp. has a 12 month low of $35.88 and a 12 month high of $136.00. The firm has a 50 day moving average price of $110.68 and a 200 day moving average price of $92.71.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its 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 company had revenue of $102.69 million during 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. As a group, equities analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Activity at GeneDx

In other news, CEO Katherine Stueland sold 10,501 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $121.47, for a total value of $1,275,556.47. Following the transaction, the chief executive officer owned 14,578 shares in the company, valued at approximately $1,770,789.66. The trade was a 41.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Casdin Capital, Llc sold 500,000 shares of the business's stock in a transaction that occurred on 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 transaction, the director owned 3,007,164 shares in the company, valued at $363,566,127.60. This trade represents a 14.26% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 575,870 shares of company stock valued at $69,280,301. Company insiders own 29.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Guggenheim reissued a "buy" rating and set a $115.00 price objective (up previously from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Piper Sandler increased their price objective on shares of GeneDx from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. Finally, Wells Fargo & Company increased their price objective on shares of GeneDx from $78.00 to $95.00 and gave the stock an "equal weight" rating in a research 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $104.13.

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.