Squarepoint Ops LLC Sells 34,840 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Squarepoint Ops LLC lessened its position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 74.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,989 shares of the company's stock after selling 34,840 shares during the period. Squarepoint Ops LLC's holdings in GeneDx were worth $921,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WGS. Vanguard Group Inc. raised its holdings in shares of GeneDx by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company's stock worth $77,337,000 after acquiring an additional 156,768 shares during the period. Summit Partners Public Asset Management LLC raised its stake in shares of GeneDx by 336.9% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock valued at $58,073,000 after purchasing an additional 582,619 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of GeneDx in the 4th quarter valued at about $51,496,000. Lord Abbett & CO. LLC bought a new stake in shares of GeneDx in the fourth quarter valued at about $48,458,000. Finally, Fred Alger Management LLC boosted its position in shares of GeneDx by 38.5% during the fourth quarter. Fred Alger Management LLC now owns 546,054 shares of the company's stock worth $41,970,000 after buying an additional 151,824 shares during the period. Institutional investors own 61.72% of the company's stock.

GeneDx Stock Performance

Shares of NASDAQ:WGS traded down $1.32 on Tuesday, hitting $72.81. The company had a trading volume of 522,896 shares, compared to its average volume of 770,582. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -37.15 and a beta of 1.96. The stock has a 50 day moving average price of $81.35 and a 200 day moving average price of $82.26. GeneDx Holdings Corp. has a 1-year low of $20.01 and a 1-year high of $117.75. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.17. The business had revenue of $87.12 million for the quarter, compared to analyst estimates of $79.90 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. Analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Activity

In related news, CEO Katherine Stueland sold 2,731 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $94.73, for a total transaction of $258,707.63. Following the sale, the chief executive officer now owns 7,752 shares of the company's stock, valued at $734,346.96. This represents a 26.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin Feeley sold 388 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $113.09, for a total value of $43,878.92. Following the transaction, the chief financial officer now owns 3,337 shares in the company, valued at approximately $377,381.33. This trade represents a 10.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 139,390 shares of company stock valued at $13,043,288. 29.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WGS shares. The Goldman Sachs Group lifted their target price on GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Guggenheim began coverage on shares of GeneDx in a research note on Thursday, May 15th. They set a "buy" rating and a $88.00 price target for the company. TD Securities cut their price objective on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Jefferies Financial Group upgraded shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a report on Friday, May 9th. Finally, Wells Fargo & Company lowered 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.