GeneDx Holdings Corp. $WGS Shares Purchased 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. raised its position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 49.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,520 shares of the company's stock after acquiring an additional 6,420 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 0.07% of GeneDx worth $1,729,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in GeneDx in the 4th quarter valued at about $35,000. GAMMA Investing LLC grew its position in GeneDx by 151.7% in the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock valued at $39,000 after acquiring an additional 264 shares in the last quarter. Comerica Bank acquired a new position in GeneDx in the 4th quarter valued at about $50,000. US Bancorp DE grew its position in GeneDx by 3,223.5% in the 1st quarter. US Bancorp DE now owns 565 shares of the company's stock valued at $50,000 after acquiring an additional 548 shares in the last quarter. Finally, Gen Wealth Partners Inc acquired a new position in shares of GeneDx during the fourth quarter worth about $81,000. 61.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at GeneDx

In other GeneDx news, Director Jason Ryan sold 38,072 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin Feeley sold 378 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $125.81, for a total value of $47,556.18. Following the sale, the chief financial officer owned 4,096 shares of the company's stock, valued at $515,317.76. This trade represents a 8.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 561,641 shares of company stock worth $67,551,904 in the last three months. Corporate insiders own 29.60% of the company's stock.

GeneDx Stock Down 2.4%

WGS stock traded down $3.21 during trading on Monday, hitting $129.33. 442,296 shares of the company's stock were exchanged, compared to its average volume of 658,089. The business has a 50-day moving average price of $104.92 and a two-hundred day moving average price of $91.12. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 2,586.60 and a beta of 2.03. GeneDx Holdings Corp. has a 52-week low of $32.11 and a 52-week high of $136.00. The company has a current ratio of 2.87, a quick ratio of 2.70 and a debt-to-equity ratio of 0.19.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WGS. Piper Sandler set a $120.00 price objective on GeneDx and gave the stock an "overweight" rating in a research report on Monday, August 4th. Wall Street Zen raised GeneDx from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. 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 report on Wednesday, July 30th. Finally, Guggenheim reissued a "buy" rating and set a $115.00 price objective (up from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.63.

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.