Peregrine Capital Management LLC Reduces Stock Holdings in GeneDx Holdings Corp. $WGS

Peregrine Capital Management LLC decreased its position in GeneDx Holdings Corp. (NASDAQ:WGS) by 27.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,038 shares of the company’s stock after selling 20,209 shares during the period. Peregrine Capital Management LLC owned about 0.19% of GeneDx worth $7,028,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in GeneDx by 5.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,702 shares of the company’s stock valued at $399,000 after purchasing an additional 181 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in GeneDx by 664.3% in the third 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 lifted its stake in GeneDx by 248.8% in the third 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. Chung Wu Investment Group LLC lifted its stake in GeneDx by 9.1% in the third quarter. Chung Wu Investment Group LLC now owns 3,600 shares of the company’s stock valued at $388,000 after purchasing an additional 300 shares during the last quarter. Finally, Kovack Advisors Inc. lifted its stake in GeneDx by 14.3% in the third quarter. Kovack Advisors Inc. now owns 2,868 shares of the company’s stock valued at $309,000 after purchasing an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

GeneDx Price Performance

GeneDx stock opened at $66.24 on Friday. GeneDx Holdings Corp. has a one year low of $55.17 and a one year high of $170.87. The business has a fifty day moving average price of $74.00 and a 200-day moving average price of $109.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.46 and a quick ratio of 2.34. The firm has a market capitalization of $1.94 billion, a P/E ratio of -88.32 and a beta of 2.17.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Monday, February 23rd. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. GeneDx had a positive return on equity of 14.73% and a negative net margin of 4.92%.The firm had revenue of $120.99 million during the quarter, compared to analyst estimates of $120.80 million. As a group, equities research analysts forecast that GeneDx Holdings Corp. will post 0.75 EPS for the current year.

Insider Buying and Selling

In related news, COO Bryan Dechairo sold 5,961 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $85.70, for a total value of $510,857.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Keith A. Meister acquired 140,026 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was acquired at an average price of $81.19 per share, for a total transaction of $11,368,710.94. Following the transaction, the director directly owned 3,228,150 shares of the company’s stock, valued at $262,093,498.50. This represents a 4.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 112,808 shares of company stock valued at $8,245,748 over the last three months. Insiders own 29.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on WGS. Jefferies Financial Group set a $150.00 price objective on GeneDx in a research note on Monday, February 23rd. Canaccord Genuity Group set a $100.00 price target on GeneDx and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company raised GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price target for the company in a report on Monday, February 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $130.00 price target (down from $160.00) on shares of GeneDx in a report on Tuesday, February 24th. Finally, Wall Street Zen lowered GeneDx from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, GeneDx presently has an average rating of “Moderate Buy” and an average target price of $130.71.

GeneDx 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.