Peregrine Capital Management LLC Purchases Shares of 85,763 GeneDx Holdings Corp. $WGS

Peregrine Capital Management LLC bought a new position in GeneDx Holdings Corp. (NASDAQ:WGS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 85,763 shares of the company’s stock, valued at approximately $7,917,000. Peregrine Capital Management LLC owned approximately 0.30% of GeneDx at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of GeneDx by 151.7% in the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company’s stock worth $39,000 after buying an additional 264 shares in the last quarter. US Bancorp DE raised its holdings in shares of GeneDx by 3,223.5% in the 1st quarter. US Bancorp DE now owns 565 shares of the company’s stock worth $50,000 after buying an additional 548 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of GeneDx by 351.5% in the 2nd quarter. AlphaQuest LLC now owns 763 shares of the company’s stock worth $70,000 after buying an additional 594 shares in the last quarter. KBC Group NV acquired a new position in shares of GeneDx in the 1st quarter worth approximately $81,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of GeneDx in the 1st quarter worth approximately $132,000. 61.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jason Ryan sold 38,072 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 103,284 shares in the company, valued at $13,148,053.20. This trade represents a 26.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Casdin Capital, Llc sold 500,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $120.90, for a total value of $60,450,000.00. Following the completion of the transaction, the director owned 3,007,164 shares in the company, valued at $363,566,127.60. This represents a 14.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 553,829 shares of company stock valued at $67,221,616 over the last 90 days. Company insiders own 29.60% of the company’s stock.

GeneDx Stock Up 1.4%

Shares of WGS opened at $130.66 on Tuesday. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 2,613.20 and a beta of 1.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.70 and a current ratio of 2.87. The business’s fifty day moving average price is $123.32 and its two-hundred day moving average price is $97.97. GeneDx Holdings Corp. has a 52 week low of $55.17 and a 52 week high of $136.00.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $86.00 million. On average, analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Analysts Set New Price Targets

WGS has been the subject of a number of recent research reports. BTIG Research increased their target price on GeneDx from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Piper Sandler increased their price target on GeneDx from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Wall Street Zen upgraded GeneDx from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Zacks Research lowered GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Finally, Wells Fargo & Company increased their price target on GeneDx from $78.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.80.

GeneDx Company 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.