GeneDx Holdings Corp. $WGS Shares Acquired by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management Partners Inc. increased its holdings in GeneDx Holdings Corp. by 49.0%, now owning approximately 0.07% of the company, valued at $1.73 million.
• Multiple institutional investors, including Vanguard Group Inc. and Summit Partners Public Asset Management LLC, have also significantly increased their stakes in GeneDx in recent months.
• GeneDx has garnered buy ratings from several analysts, with an average target price of $101.63, indicating strong confidence in the company's future performance.

Polar Asset Management Partners Inc. boosted its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 49.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,520 shares of the company's stock after purchasing an additional 6,420 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 0.07% of GeneDx worth $1,729,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position 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 in the last quarter. Lazard Asset Management LLC purchased a new position in GeneDx during the fourth quarter worth approximately $35,000. US Bancorp DE boosted its position 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 in the last quarter. Comerica Bank purchased a new position in GeneDx during the fourth quarter worth approximately $50,000. Finally, KBC Group NV purchased a new position in GeneDx during the first quarter worth approximately $81,000. Hedge funds and other institutional investors own 61.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on WGS. Wall Street Zen upgraded GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Piper Sandler boosted their price objective on GeneDx from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday. Guggenheim reiterated a "buy" rating and set a $115.00 price objective (up from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Finally, Wells Fargo & Company boosted their price objective on GeneDx from $78.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, GeneDx currently has an average rating of "Moderate Buy" and a consensus price target of $104.13.

GeneDx Price Performance

Shares of WGS stock traded up $2.30 during trading hours on Thursday, reaching $125.50. The company had a trading volume of 264,755 shares, compared to its average volume of 1,021,975. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.70 and a current ratio of 2.87. The stock has a fifty day moving average of $106.30 and a 200-day moving average of $91.59. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 2,509.90 and a beta of 2.04. GeneDx Holdings Corp. has a 12-month low of $34.94 and a 12-month high of $136.00.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.40. GeneDx had a return on equity of 16.51% and a net margin of 0.39%.The business had revenue of $102.69 million during the quarter, compared to analyst estimates of $86.00 million. GeneDx has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Transactions at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 9,657 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $90.94, for a total transaction of $878,207.58. Following the transaction, the chief executive officer directly owned 4,940 shares in the company, valued at $449,243.60. This represents a 66.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jason Ryan sold 38,072 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $127.30, for a total value of $4,846,565.60. Following the completion of the sale, the director owned 103,284 shares in the company, valued at approximately $13,148,053.20. The trade was a 26.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 561,641 shares of company stock valued at $67,551,904 over the last three months. 29.60% of the stock is currently owned by company insiders.

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.