Massachusetts Financial Services Co. MA Cuts Stock Position in GeneDx Holdings Corp. $WGS

Massachusetts Financial Services Co. MA lessened its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 4.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 198,926 shares of the company’s stock after selling 10,329 shares during the period. Massachusetts Financial Services Co. MA owned 0.69% of GeneDx worth $25,872,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its holdings in shares of GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after purchasing an additional 186 shares during the last quarter. Quarry LP boosted its holdings in shares of GeneDx by 248.8% during the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 209 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in shares of GeneDx during the 3rd quarter valued at about $65,000. AlphaQuest LLC boosted its holdings in shares of GeneDx by 70.8% during the 3rd quarter. AlphaQuest LLC now owns 1,303 shares of the company’s stock valued at $140,000 after purchasing an additional 540 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of GeneDx by 479.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,818 shares of the company’s stock valued at $168,000 after purchasing an additional 1,504 shares during the last quarter. Institutional investors own 61.72% of the company’s stock.

GeneDx Stock Up 0.9%

Shares of NASDAQ:WGS opened at $67.46 on Thursday. The company has a current ratio of 2.46, a quick ratio of 2.34 and a debt-to-equity ratio of 0.16. GeneDx Holdings Corp. has a 12 month low of $55.17 and a 12 month high of $170.87. The company has a 50-day moving average price of $76.63 and a 200 day moving average price of $111.27. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -89.95 and a beta of 2.17.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Monday, February 23rd. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. GeneDx had a negative net margin of 4.92% and a positive return on equity of 14.73%. The firm had revenue of $120.99 million during the quarter, compared to the consensus estimate of $120.80 million. As a group, equities research analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on WGS shares. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a report on Wednesday, January 21st. Jefferies Financial Group set a $150.00 price objective on shares of GeneDx in a report on Monday, February 23rd. Wells Fargo & Company raised shares of GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a report on Monday, February 9th. Piper Sandler reissued an “overweight” rating and set a $130.00 price objective (down from $160.00) on shares of GeneDx in a report on Tuesday, February 24th. Finally, Zacks Research raised shares of GeneDx from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, GeneDx currently has an average rating of “Moderate Buy” and an average price target of $140.71.

Insider Buying and Selling at GeneDx

In related news, CEO Katherine Stueland sold 46,933 shares of the stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $63.17, for a total value of $2,964,757.61. Following the completion of the transaction, the chief executive officer owned 91,514 shares of the company’s stock, valued at approximately $5,780,939.38. This trade represents a 33.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith A. Meister acquired 140,026 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was purchased at an average cost of $81.19 per share, with a total value of $11,368,710.94. Following the purchase, the director owned 3,228,150 shares of the company’s stock, valued at $262,093,498.50. The trade was a 4.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 112,808 shares of company stock worth $8,245,748 in the last 90 days. 29.60% of the stock is currently owned by insiders.

GeneDx Company 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.