GeneDx Holdings Corp. (NASDAQ:WGS) Stake Lessened by Point72 Asset Management L.P.

Point72 Asset Management L.P. decreased its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 78.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,088 shares of the company's stock after selling 230,583 shares during the period. Point72 Asset Management L.P. owned about 0.23% of GeneDx worth $4,849,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WGS. MCF Advisors LLC increased its position in shares of GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company's stock worth $27,000 after purchasing an additional 182 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of GeneDx by 877.8% in the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after purchasing an additional 316 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of GeneDx in the 4th quarter worth about $28,000. Lazard Asset Management LLC bought a new stake in shares of GeneDx in the 4th quarter worth about $35,000. Finally, Comerica Bank bought a new stake in shares of GeneDx during the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 61.72% of the company's stock.

Analyst Upgrades and Downgrades

WGS has been the subject of a number of recent research reports. Guggenheim initiated coverage on shares of GeneDx in a research report on Thursday, May 15th. They set a "buy" rating and a $88.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. TD Securities lowered their price objective on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group boosted their price objective on shares of GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group raised shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $86.75.

Insider Transactions at GeneDx

In related news, Director Keith A. Meister purchased 100,000 shares of GeneDx stock in a transaction dated Thursday, May 8th. The stock was bought at an average cost of $56.01 per share, with a total value of $5,601,000.00. Following the purchase, the director now owns 3,008,629 shares in the company, valued at approximately $168,513,310.29. The trade was a 3.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Katherine Stueland sold 2,731 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $94.73, for a total transaction of $258,707.63. Following the completion of the sale, the chief executive officer now directly owns 7,752 shares of the company's stock, valued at approximately $734,346.96. This represents a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 139,390 shares of company stock valued at $13,043,288. Company insiders own 29.60% of the company's stock.

GeneDx Stock Performance

GeneDx stock traded up $4.27 during midday trading on Friday, reaching $71.60. 660,629 shares of the stock traded hands, compared to its average volume of 768,557. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average price of $84.79 and a two-hundred day moving average price of $82.41. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -36.53 and a beta of 1.96. GeneDx Holdings Corp. has a fifty-two week low of $19.54 and a fifty-two week high of $117.75.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its earnings results 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. The firm had revenue of $87.12 million during the quarter, compared to analyst estimates of $79.90 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. On average, equities research analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

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.