Polar Asset Management Partners Inc. Makes New $1.01 Million Investment in GeneDx Holdings Corp. (NASDAQ:WGS)

Polar Asset Management Partners Inc. bought a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 13,100 shares of the company's stock, valued at approximately $1,007,000.

Other large investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its stake in 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 purchasing an additional 316 shares during the period. Global Retirement Partners LLC acquired a new position in shares of GeneDx in the fourth quarter worth $28,000. Lazard Asset Management LLC acquired a new position in shares of GeneDx in the fourth quarter worth $35,000. Comerica Bank acquired a new position in shares of GeneDx in the fourth quarter worth $50,000. Finally, Quarry LP acquired a new position in shares of GeneDx in the fourth quarter worth $78,000. 61.72% of the stock is owned by institutional investors and hedge funds.

GeneDx Stock Up 1.0%

GeneDx stock traded up $0.73 during mid-day trading on Friday, hitting $70.71. 626,360 shares of the company's stock were exchanged, compared to its average volume of 772,034. 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 stock has a market cap of $2.02 billion, a P/E ratio of -36.08 and a beta of 1.96. GeneDx Holdings Corp. has a 1-year low of $20.01 and a 1-year high of $117.75. The stock has a 50 day moving average of $81.79 and a two-hundred day moving average of $82.22.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, topping 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 negative net margin of 17.12% and a positive return on equity of 3.33%. As a group, analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Activity

In other GeneDx news, Director Keith A. Meister purchased 100,000 shares of the stock in a transaction dated Thursday, May 8th. The shares were bought at an average cost of $56.01 per share, with a total value of $5,601,000.00. Following the completion of the transaction, the director now owns 3,008,629 shares in the company, valued at $168,513,310.29. This trade represents a 3.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 2,731 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were 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 directly owns 7,752 shares in the company, 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. Over the last ninety days, insiders have sold 139,390 shares of company stock valued at $13,043,288. 29.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. TD Securities dropped their price target on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company dropped their price target on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Guggenheim assumed coverage on shares of GeneDx in a research note on Thursday, May 15th. They issued a "buy" rating and a $88.00 price target on the stock. The Goldman Sachs Group upped their price target on shares of GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note 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 target on the stock in a research note on Friday, May 9th. Two 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 company presently 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.