GeneDx Holdings Corp. $WGS Stock Position Reduced by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & CO. LLC has reduced its stake in GeneDx Holdings Corp. by 35.1%, currently holding 409,336 shares worth approximately $36.25 million.
• Several institutional investors have significantly increased their positions in GeneDx, with US Bancorp DE boosting its stake by 3,223.5% during the 1st quarter.
• Analysts have generally expressed a positive outlook on GeneDx, with the stock receiving an average rating of "Moderate Buy" and an average price target of $101.63.

Lord Abbett & CO. LLC lessened its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 35.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 409,336 shares of the company's stock after selling 221,137 shares during the period. Lord Abbett & CO. LLC owned 1.46% of GeneDx worth $36,253,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC lifted its position in GeneDx by 877.8% in the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after acquiring an additional 316 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of GeneDx by 151.7% during the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after acquiring an additional 264 shares during the period. Lazard Asset Management LLC bought a new position in GeneDx in the 4th quarter valued at approximately $35,000. US Bancorp DE lifted its stake in GeneDx by 3,223.5% in the 1st quarter. US Bancorp DE now owns 565 shares of the company's stock valued at $50,000 after purchasing an additional 548 shares during the last quarter. Finally, Comerica Bank bought a new position in GeneDx in the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 61.72% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on WGS. Wells Fargo & Company raised their price target on shares of GeneDx from $78.00 to $95.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Jefferies Financial Group raised shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research note on Friday, May 9th. Piper Sandler set a $120.00 price target on shares of GeneDx and gave the company an "overweight" rating in a report on Monday, August 4th. Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Guggenheim reaffirmed a "buy" rating and issued a $115.00 target price (up from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $101.63.

Insider Buying and Selling at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 5,278 shares of the stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $93.00, for a total value of $490,854.00. Following the sale, the chief financial officer owned 3,392 shares of the company's stock, valued at $315,456. This trade represents a 60.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Katherine Stueland sold 9,657 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $90.94, for a total value of $878,207.58. Following the sale, the chief executive officer directly owned 4,940 shares in the company, valued at $449,243.60. This trade represents a 66.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,411 shares of company stock valued at $2,085,051. 29.60% of the stock is owned by corporate insiders.

GeneDx Trading Down 3.6%

Shares of WGS traded down $4.5610 during trading hours on Tuesday, reaching $121.3390. 674,614 shares of the company traded hands, compared to its average volume of 1,065,134. 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 stock's fifty day moving average price is $89.46 and its 200 day moving average price is $86.14. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 2,423.20 and a beta of 2.02. GeneDx Holdings Corp. has a 12-month low of $28.86 and a 12-month high of $127.55.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.40. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. The business had revenue of $102.69 million during the quarter, compared to the consensus estimate of $86.00 million. GeneDx has set its FY 2025 guidance at EPS. Sell-side analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

About GeneDx

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.