Lisanti Capital Growth LLC Cuts Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

Lisanti Capital Growth LLC reduced its position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 56.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,435 shares of the company's stock after selling 38,465 shares during the period. Lisanti Capital Growth LLC owned 0.10% of GeneDx worth $2,607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in GeneDx by 151.7% during the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock valued at $39,000 after buying an additional 264 shares in the last quarter. Sterling Capital Management LLC grew its holdings in GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after buying an additional 316 shares in the last quarter. Global Retirement Partners LLC purchased a new position in GeneDx during the 4th quarter valued at approximately $28,000. MetLife Investment Management LLC grew its holdings in GeneDx by 6.2% during the 4th quarter. MetLife Investment Management LLC now owns 7,750 shares of the company's stock valued at $596,000 after buying an additional 453 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in GeneDx during the 4th quarter valued at approximately $35,000. 61.72% of the stock is owned by institutional investors.

GeneDx Price Performance

WGS opened at $91.10 on Friday. The business has a fifty day moving average of $74.52 and a 200 day moving average of $81.89. GeneDx Holdings Corp. has a 52-week low of $25.32 and a 52-week high of $117.75. The company has a quick ratio of 3.07, a current ratio of 3.25 and a debt-to-equity ratio of 0.20. The stock has a market cap of $2.60 billion, a P/E ratio of -64.61 and a beta of 1.94.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.17. GeneDx had a positive return on equity of 10.17% and a negative net margin of 11.69%. The company had revenue of $87.12 million during the quarter, compared to analysts' expectations of $79.90 million. As a group, sell-side analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Analysts Set New Price Targets

WGS has been the subject of a number of recent research reports. Wells Fargo & Company dropped their target price on GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Wall Street Zen cut GeneDx from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a report on Friday, May 9th. Guggenheim initiated coverage on GeneDx in a report on Thursday, May 15th. They issued a "buy" rating and a $88.00 target price for the company. Finally, TD Securities dropped their target price on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $86.75.

Insider Activity at GeneDx

In other news, Director Keith A. Meister bought 100,000 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was acquired at an average cost of $56.01 per share, with a total value of $5,601,000.00. Following the transaction, the director now directly owns 3,008,629 shares in the company, valued at approximately $168,513,310.29. This trade represents a 3.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Feeley sold 370 shares of GeneDx stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $71.26, for a total value of $26,366.20. Following the sale, the chief financial officer now directly owns 4,105 shares of the company's stock, valued at approximately $292,522.30. This trade represents a 8.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,022 shares of company stock worth $5,919,860 in the last quarter. 29.60% of the stock is owned by company insiders.

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.