GeneDx Holdings Corp. (NASDAQ:WGS) Shares Sold by Gagnon Advisors LLC

Gagnon Advisors LLC decreased its position in GeneDx Holdings Corp. (NASDAQ:WGS) by 26.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 187,618 shares of the company’s stock after selling 67,441 shares during the period. GeneDx makes up 9.2% of Gagnon Advisors LLC’s holdings, making the stock its biggest holding. Gagnon Advisors LLC owned about 0.68% of GeneDx worth $14,420,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of WGS. MCF Advisors LLC increased its stake in GeneDx by 107.7% in the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after purchasing an additional 182 shares in the last quarter. CWM LLC acquired a new position in GeneDx during the 3rd quarter worth approximately $89,000. SG Americas Securities LLC bought a new position in GeneDx in the third quarter worth approximately $198,000. Evolution Wealth Advisors LLC bought a new position in shares of GeneDx in the 4th quarter worth $202,000. Finally, Point72 DIFC Ltd acquired a new stake in GeneDx in the 3rd quarter valued at $220,000. Institutional investors own 61.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their price target on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. TD Cowen increased their price objective on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, Craig Hallum raised their target price on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, GeneDx currently has an average rating of “Moderate Buy” and an average price target of $70.67.

Insider Activity

In other news, major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $70.78, for a total transaction of $8,973,629.96. Following the sale, the insider now directly owns 2,719,692 shares in the company, valued at $192,499,799.76. This represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jason Ryan sold 31,510 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $71.28, for a total transaction of $2,246,032.80. Following the completion of the sale, the director now directly owns 15,490 shares in the company, valued at approximately $1,104,127.20. The trade was a 67.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 363,669 shares of company stock valued at $28,061,081 over the last quarter. Company insiders own 27.30% of the company’s stock.

GeneDx Trading Down 3.9 %

GeneDx stock opened at $74.85 on Friday. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The business’s 50 day simple moving average is $78.29 and its 200 day simple moving average is $57.97. GeneDx Holdings Corp. has a 12 month low of $3.62 and a 12 month high of $98.87.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The firm had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $64.98 million. During the same quarter in the prior year, the firm earned ($0.82) EPS. The business’s revenue for the quarter was up 44.3% compared to the same quarter last year. As a group, research analysts expect that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

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.