Goldman Sachs Group Inc. Cuts Stock 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 holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 4.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Scientech Research LLC purchased a new stake in shares of GeneDx during the first quarter worth approximately $675,000. Polar Asset Management Partners Inc. increased its stake in shares of GeneDx by 49.0% during the first quarter. Polar Asset Management Partners Inc. now owns 19,520 shares of the company's stock worth $1,729,000 after buying an additional 6,420 shares during the period. NewEdge Advisors LLC increased its stake in shares of GeneDx by 270,700.0% during the first quarter. NewEdge Advisors LLC now owns 2,708 shares of the company's stock worth $240,000 after buying an additional 2,707 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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, Jacobs Levy Equity Management Inc. purchased a new stake in shares of GeneDx during the first quarter worth approximately $488,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WGS shares. Guggenheim restated 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 target price on shares of GeneDx from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday. Wells Fargo & Company upped their target price 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, Wall Street Zen raised GeneDx from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $104.13.

Insider Transactions at GeneDx

In other news, CFO Kevin Feeley sold 378 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $125.81, for a total value of $47,556.18. Following the completion of the sale, the chief financial officer directly owned 4,096 shares of the company's stock, valued at approximately $515,317.76. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Katherine Stueland sold 2,154 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $105.31, for a total value of $226,837.74. Following the completion of the sale, the chief executive officer directly owned 3,440 shares of the company's stock, valued at $362,266.40. The trade was 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 valued at $67,551,904 over the last ninety days. 29.60% of the stock is owned by insiders.

GeneDx Stock Performance

Shares of WGS opened at $123.95 on Friday. The stock has a 50 day moving average price of $107.63 and a 200 day moving average price of $91.99. The company has a quick ratio of 2.70, a current ratio of 2.87 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 2,479.00 and a beta of 2.04. GeneDx Holdings Corp. has a 52-week low of $35.88 and a 52-week high of $136.00.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly 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 return on equity of 16.51% and a net margin of 0.39%. GeneDx has set its FY 2025 guidance at EPS. Research analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

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.

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