GeneDx Holdings Corp. (NASDAQ:WGS) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. lessened its stake 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. The institutional investor owned 63,088 shares of the company's stock after selling 230,583 shares during the quarter. Point72 Asset Management L.P. owned approximately 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 bought and sold shares of the stock. MCF Advisors LLC raised its stake in GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company's stock worth $27,000 after acquiring an additional 182 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after buying an additional 316 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of GeneDx during the 4th quarter valued at about $28,000. MetLife Investment Management LLC raised its stake in shares of GeneDx by 6.2% during the 4th quarter. MetLife Investment Management LLC now owns 7,750 shares of the company's stock valued at $596,000 after buying an additional 453 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of GeneDx during the 4th quarter valued at about $35,000. Institutional investors own 61.72% of the company's stock.

GeneDx Price Performance

Shares of GeneDx stock traded down $0.45 on Thursday, hitting $67.33. The company's stock had a trading volume of 827,577 shares, compared to its average volume of 765,335. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. GeneDx Holdings Corp. has a 1 year low of $19.16 and a 1 year high of $117.75. The firm has a fifty day moving average price of $85.18 and a 200-day moving average price of $82.34. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -34.35 and a beta of 1.96.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.17. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The company had revenue of $87.12 million for the quarter, compared to analysts' expectations of $79.90 million. As a group, sell-side analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WGS shares. Guggenheim started 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. TD Securities reduced 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. Wells Fargo & Company reduced their price objective on GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group lifted 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. Finally, 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $86.75.

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.