William Blair Investment Management LLC Acquires 442,414 Shares of GeneDx Holdings Corp. $WGS

Key Points

• William Blair Investment Management LLC increased its stake in GeneDx Holdings Corp. by 37.2%, acquiring an additional 442,414 shares during the second quarter, bringing its total ownership to 1,631,402 shares valued at $150.6 million.
• Insider transactions included CEO Katherine Stueland selling 10,501 shares and Director Casdin Capital selling 500,000 shares, indicating notable changes in executive holdings.
• GeneDx last reported $0.50 EPS for the quarter, surpassing analysts' expectations and generating revenue of $102.69 million, while Wall Street analysts maintain a consensus rating of "Moderate Buy" with an average price target of $104.13.

William Blair Investment Management LLC grew its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 37.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,631,402 shares of the company's stock after purchasing an additional 442,414 shares during the quarter. William Blair Investment Management LLC owned about 5.72% of GeneDx worth $150,595,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. GAMMA Investing LLC increased 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 buying an additional 264 shares during the last quarter. US Bancorp DE increased its holdings in shares of GeneDx by 3,223.5% during 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 during the last quarter. KBC Group NV bought a new position in shares of GeneDx in the 1st quarter valued at approximately $81,000. PNC Financial Services Group Inc. acquired a new stake in GeneDx in the 1st quarter worth approximately $132,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in GeneDx by 184.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,224 shares of the company's stock worth $197,000 after purchasing an additional 1,443 shares during the period. 61.72% of the stock is currently owned by institutional investors.

Insider Activity at GeneDx

In related news, CEO Katherine Stueland sold 10,501 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $121.47, for a total value of $1,275,556.47. Following the transaction, the chief executive officer directly owned 14,578 shares in the company, valued at $1,770,789.66. This represents a 41.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Casdin Capital, Llc sold 500,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $120.90, for a total transaction of $60,450,000.00. Following the completion of the transaction, the director directly owned 3,007,164 shares in the company, valued at approximately $363,566,127.60. The trade was a 14.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 556,371 shares of company stock valued at $67,489,314 over the last ninety days. Company insiders own 29.60% of the company's stock.

GeneDx Price Performance

Shares of WGS stock opened at $120.94 on Friday. GeneDx Holdings Corp. has a 12 month low of $55.17 and a 12 month high of $136.00. The company has a market capitalization of $3.47 billion, a P/E ratio of 2,418.80 and a beta of 1.98. The stock has a 50 day moving average of $122.74 and a two-hundred day moving average of $96.21. 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 released its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.40. The company had revenue of $102.69 million during the quarter, compared to the consensus estimate of $86.00 million. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. GeneDx has set its FY 2025 guidance at EPS. As a group, equities analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WGS shares. Weiss Ratings reissued a "sell (d)" rating on shares of GeneDx in a research report on Wednesday, October 8th. Wells Fargo & Company upped their price target on shares of GeneDx from $78.00 to $95.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Guggenheim reaffirmed a "buy" rating and issued a $115.00 price target (up from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Wall Street Zen raised GeneDx from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Zacks Research lowered GeneDx from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 2nd. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $104.13.

About GeneDx

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.

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