Millennium Management LLC Sells 515,633 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Millennium Management LLC cut its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 89.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,803 shares of the company's stock after selling 515,633 shares during the quarter. Millennium Management LLC owned about 0.21% of GeneDx worth $4,520,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of GeneDx by 7.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,188 shares of the company's stock valued at $552,000 after buying an additional 515 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of GeneDx during the 4th quarter valued at about $35,000. Janus Henderson Group PLC purchased a new stake in shares of GeneDx during the 4th quarter valued at about $430,000. Gen Wealth Partners Inc purchased a new stake in shares of GeneDx during the 4th quarter valued at about $81,000. Finally, Gotham Asset Management LLC raised its holdings in shares of GeneDx by 23.1% during the 4th quarter. Gotham Asset Management LLC now owns 16,587 shares of the company's stock valued at $1,275,000 after buying an additional 3,109 shares during the period. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wells Fargo & Company dropped their target price on GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Jefferies Financial Group upgraded 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. TD Securities lowered their price objective on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Guggenheim began coverage on GeneDx in a research note on Thursday, May 15th. They set a "buy" rating and a $88.00 price objective for the company. Finally, The Goldman Sachs Group raised their price objective on GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $86.75.

GeneDx Stock Performance

Shares of NASDAQ WGS traded up $0.73 during mid-day trading on Friday, hitting $70.71. The company had a trading volume of 626,360 shares, compared to its average volume of 772,034. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -36.08 and a beta of 1.96. GeneDx Holdings Corp. has a 12 month low of $20.01 and a 12 month high of $117.75. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The firm's 50 day simple moving average is $81.79 and its two-hundred day simple moving average is $82.13.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.17. The firm had revenue of $87.12 million for the quarter, compared to the consensus estimate of $79.90 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. As a group, equities research analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Buying and Selling at GeneDx

In related news, CFO Kevin Feeley sold 922 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $94.72, for a total value of $87,331.84. Following the sale, the chief financial officer now directly owns 5,446 shares in the company, valued at $515,845.12. The trade was a 14.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Katherine Stueland sold 10,559 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $96.71, for a total transaction of $1,021,160.89. Following the completion of the sale, the chief executive officer now owns 14,865 shares of the company's stock, valued at approximately $1,437,594.15. This trade represents a 41.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 139,390 shares of company stock valued at $13,043,288 in the last quarter. Corporate insiders own 29.60% of the company's stock.

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.