Perigon Wealth Management LLC Takes Position in GeneDx Holdings Corp. $WGS

Key Points

• Perigon Wealth Management LLC acquired 5,185 shares of GeneDx Holdings Corp. valued at approximately $479,000, marking a significant new position in the company during the 2nd quarter.
• Analyst ratings for GeneDx have been positive, with multiple firms lifting their price targets significantly, including Wells Fargo raising it from $78.00 to $95.00 and Piper Sandler increasing it from $120.00 to $140.00.
• Insider trading has been notable, with CEO Katherine Stueland selling 10,501 shares valued at over $1.2 million, reducing her ownership by nearly 42%.

Perigon Wealth Management LLC acquired a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,185 shares of the company's stock, valued at approximately $479,000.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in GeneDx by 151.7% during the first quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after purchasing an additional 264 shares during the period. US Bancorp DE raised its stake in GeneDx by 3,223.5% during the first quarter. US Bancorp DE now owns 565 shares of the company's stock worth $50,000 after purchasing an additional 548 shares during the period. KBC Group NV purchased a new position in GeneDx during the first quarter worth about $81,000. PNC Financial Services Group Inc. purchased a new position in GeneDx during the first quarter worth about $132,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in GeneDx by 184.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,224 shares of the company's stock worth $197,000 after purchasing an additional 1,443 shares during the period. 61.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on WGS. Wells Fargo & Company lifted their price target on shares of GeneDx from $78.00 to $95.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Guggenheim reiterated a "buy" rating and set a $115.00 price target (up from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Piper Sandler lifted their price target on shares of GeneDx from $120.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Finally, Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $104.13.

GeneDx Stock Down 2.8%

Shares of GeneDx stock opened at $113.93 on Tuesday. GeneDx Holdings Corp. has a 52-week low of $40.40 and a 52-week high of $136.00. The company has a 50 day moving average of $116.19 and a 200 day moving average of $93.89. The company has a quick ratio of 2.70, a current ratio of 2.87 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $3.27 billion, a P/E ratio of 2,278.60 and a beta of 2.04.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly 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 net margin of 0.39% and a return on equity of 16.51%. The company 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. As a group, research analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Activity

In related news, CEO Katherine Stueland sold 10,501 shares of GeneDx stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $121.47, for a total value of $1,275,556.47. Following the completion of the transaction, the chief executive officer owned 14,578 shares in the company, valued at $1,770,789.66. The trade was a 41.87% decrease in their ownership of the stock. 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 business's stock in a transaction that occurred on Friday, August 22nd. The stock was 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 of the company's stock, valued at $363,566,127.60. This represents a 14.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 564,869 shares of company stock worth $68,279,628 over the last three months. 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.

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