Legal Advantage Investments Inc. Boosts Holdings in GeneDx Holdings Corp. $WGS

Key Points

• Legal Advantage Investments Inc. increased its stake in GeneDx Holdings Corp. by 19.8%, now holding 60,600 shares valued at approximately $5.6 million, making it the firm's 12th largest holding.
• Several institutional investors have also invested in GeneDx, with Aberdeen Group plc alone purchasing shares worth about $12.6 million during the second quarter.
• Insider sales were significant, with CEO Katherine Stueland selling over 10,500 shares worth approximately $1.28 million, while Director Casdin Capital sold 500,000 shares for about $60.45 million.

Legal Advantage Investments Inc. grew its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 19.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,600 shares of the company's stock after acquiring an additional 10,000 shares during the quarter. GeneDx accounts for approximately 2.6% of Legal Advantage Investments Inc.'s holdings, making the stock its 12th biggest holding. Legal Advantage Investments Inc. owned approximately 0.21% of GeneDx worth $5,594,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Aberdeen Group plc purchased a new position in shares of GeneDx during the second quarter worth approximately $12,622,000. Slow Capital Inc. purchased a new position in shares of GeneDx during the second quarter worth approximately $3,614,000. Chung Wu Investment Group LLC raised its stake in shares of 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 acquiring an additional 250 shares in the last quarter. Perigon Wealth Management LLC purchased a new position in shares of GeneDx during the second quarter worth approximately $479,000. Finally, SJS Investment Consulting Inc. raised its stake in shares of GeneDx by 19.9% during the second quarter. SJS Investment Consulting Inc. now owns 4,280 shares of the company's stock worth $395,000 after acquiring an additional 709 shares in the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GeneDx

In other news, CEO Katherine Stueland sold 10,501 shares of the business's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $121.47, for a total transaction of $1,275,556.47. Following the sale, 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 filing with the SEC, which is accessible through the SEC website. Also, Director Casdin Capital, Llc sold 500,000 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $120.90, for a total transaction of $60,450,000.00. Following the sale, the director owned 3,007,164 shares in the company, valued at approximately $363,566,127.60. This trade represents a 14.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 556,371 shares of company stock worth $67,489,314. Corporate insiders own 29.60% of the company's stock.

Analyst Upgrades and Downgrades

WGS has been the topic of several research reports. Guggenheim reissued a "buy" rating and set a $115.00 price target (up from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Piper Sandler raised their target price on shares of GeneDx from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Zacks Research cut shares of GeneDx from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 2nd. Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Weiss Ratings restated a "sell (d)" rating on shares of GeneDx in a report on Wednesday. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, GeneDx currently has an average rating of "Moderate Buy" and an average price target of $104.13.

GeneDx Stock Performance

NASDAQ:WGS opened at $121.72 on Friday. The stock has a market cap of $3.50 billion, a P/E ratio of 2,434.40 and a beta of 1.98. The firm's fifty day simple moving average is $121.39 and its 200 day simple moving average is $95.22. GeneDx Holdings Corp. has a twelve month low of $54.14 and a twelve month high of $136.00. 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 (NASDAQ:WGS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.40. The business had revenue of $102.69 million for 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, research analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.