Royal Bank of Canada Has $571,000 Stock Holdings in GeneDx Holdings Corp. $WGS

Key Points

• Royal Bank of Canada cut its GeneDx stake by 57.7% in the first quarter, ending with 8,899 shares valued at approximately $571,000. Institutional investors collectively own 61.72% of WGS.
• Insider activity was mixed: CFO Kevin Feeley sold shares worth $226,611 to cover tax obligations, while director Casdin Capital purchased 150,000 shares for about $8.47 million. Insiders own 25.17% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an $89.57 price target. GeneDx also exceeded quarterly expectations, reporting $0.01 in adjusted EPS versus the forecasted $0.19 loss and revenue of $114.44 million.

Royal Bank of Canada lowered its position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 57.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,899 shares of the company's stock after selling 12,137 shares during the period. Royal Bank of Canada's holdings in GeneDx were worth $571,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in WGS. Arizona State Retirement System increased its stake in GeneDx by 2.1% during the 4th quarter. Arizona State Retirement System now owns 5,594 shares of the company's stock worth $728,000 after purchasing an additional 113 shares in the last quarter. Cerity Partners LLC lifted its stake in GeneDx by 6.0% in the fourth quarter. Cerity Partners LLC now owns 2,527 shares of the company's stock valued at $329,000 after buying an additional 142 shares in the last quarter. Main Management ETF Advisors LLC boosted its holdings in shares of GeneDx by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 15,660 shares of the company's stock valued at $2,037,000 after buying an additional 160 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of GeneDx by 5.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,702 shares of the company's stock valued at $399,000 after buying an additional 181 shares during the period. Finally, Strs Ohio increased its position in shares of GeneDx by 8.7% during the first quarter. Strs Ohio now owns 2,500 shares of the company's stock worth $161,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 61.72% of the company's stock.

Insider Activity

In other news, CFO Kevin Feeley sold 3,729 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $60.77, for a total transaction of $226,611.33. Following the transaction, the chief financial officer directly owned 39,954 shares in the company, valued at $2,428,004.58. The trade was a 8.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Casdin Capital, Llc bought 150,000 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was purchased at an average cost of $56.44 per share, for a total transaction of $8,466,000.00. Following the completion of the acquisition, the director owned 3,657,164 shares in the company, valued at $206,410,336.16. This trade represents a 4.28% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 19,135 shares of company stock valued at $1,128,499 in the last quarter. Company insiders own 25.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on WGS shares. BTIG Research restated a "buy" rating and set a $90.00 price objective on shares of GeneDx in a report on Tuesday, August 4th. Wall Street Zen raised shares of GeneDx from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. TD Cowen reiterated a "buy" rating on shares of GeneDx in a report on Wednesday, July 15th. Wells Fargo & Company reiterated an "overweight" rating and set a $75.00 target price (down from $155.00) on shares of GeneDx in a report on Tuesday, May 5th. Finally, Zacks Research raised GeneDx from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, GeneDx has an average rating of "Moderate Buy" and a consensus price target of $89.57.

GeneDx Stock Down 2.2%

WGS stock opened at $85.19 on Tuesday. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -23.40 and a beta of 1.92. The company has a quick ratio of 3.06, a current ratio of 3.30 and a debt-to-equity ratio of 0.40. GeneDx Holdings Corp. has a twelve month low of $32.21 and a twelve month high of $170.87. The business has a 50 day moving average price of $68.36 and a two-hundred day moving average price of $66.88.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.19) by $0.20. GeneDx had a negative net margin of 23.41% and a positive return on equity of 4.12%. The business had revenue of $114.44 million for the quarter, compared to the consensus estimate of $111.01 million. During the same period in the previous year, the company earned $0.36 earnings per share. Analysts anticipate that GeneDx Holdings Corp. will post -0.41 EPS for the current fiscal year.

GeneDx Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx's laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.

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