Magnetar Financial LLC Invests $555,000 in GeneDx Holdings Corp. $WGS

Key Points

• Magnetar Financial LLC has acquired a new stake in GeneDx Holdings Corp., purchasing 6,270 shares valued at approximately $555,000.
• Insider transactions showed significant share sales, with Director Jason Ryan selling 38,072 shares worth nearly $4.85 million and Casdin Capital selling 500,000 shares valued at over $60.45 million.
• The company's share price opened at $129.49, and GeneDx has shown substantial growth, reporting a 2,700% increase in 2024, along with a P/E ratio of 2,589.80 and a market cap of $3.72 billion.

Magnetar Financial LLC bought a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,270 shares of the company's stock, valued at approximately $555,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new position in shares of GeneDx during the 4th quarter valued at approximately $35,000. GAMMA Investing LLC lifted its position in shares of 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. Comerica Bank purchased a new position in shares of GeneDx during the 4th quarter valued at approximately $50,000. US Bancorp DE lifted its position in shares of GeneDx by 3,223.5% during the 1st quarter. US Bancorp DE now owns 565 shares of the company's stock valued at $50,000 after buying an additional 548 shares in the last quarter. Finally, Gen Wealth Partners Inc purchased a new position in shares of GeneDx during the 4th quarter valued at approximately $81,000. Hedge funds and other institutional investors own 61.72% of the company's stock.

Analysts Set New Price Targets

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

GeneDx Trading Up 1.8%

Shares of WGS traded up $2.28 during midday trading on Friday, reaching $132.54. The company had a trading volume of 453,030 shares, compared to its average volume of 656,320. GeneDx Holdings Corp. has a 1-year low of $31.22 and a 1-year high of $134.43. The stock has a market cap of $3.81 billion, a PE ratio of 2,650.80 and a beta of 2.04. The firm has a 50 day simple moving average of $104.18 and a 200-day simple moving average of $90.96. 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 issued its earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.40. GeneDx had a return on equity of 16.51% and a net margin of 0.39%.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. Research analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling

In other GeneDx news, CFO Kevin Feeley sold 378 shares of the firm's stock in a transaction 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 $515,317.76. This trade represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Casdin Capital, Llc sold 500,000 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $120.90, for a total value of $60,450,000.00. Following the completion of the sale, the director directly owned 3,007,164 shares of the company's stock, valued at $363,566,127.60. This trade represents a 14.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 561,641 shares of company stock valued at $67,551,904 over the last 90 days. Insiders own 29.60% of the company's stock.

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.