Royce & Associates LP Sells 27,416 Shares of GeneDx Holdings Corp. $WGS

Royce & Associates LP lessened its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 26.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 75,783 shares of the company’s stock after selling 27,416 shares during the quarter. Royce & Associates LP owned approximately 0.26% of GeneDx worth $9,856,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Legato Capital Management LLC grew its stake in shares of GeneDx by 4.5% during the fourth quarter. Legato Capital Management LLC now owns 10,240 shares of the company’s stock worth $1,332,000 after buying an additional 440 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of GeneDx by 33.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,092 shares of the company’s stock worth $532,000 after purchasing an additional 1,025 shares during the period. Csenge Advisory Group acquired a new position in shares of GeneDx during the fourth quarter worth $534,000. ProShare Advisors LLC lifted its holdings in shares of GeneDx by 8.0% during the fourth quarter. ProShare Advisors LLC now owns 3,467 shares of the company’s stock worth $451,000 after purchasing an additional 257 shares during the period. Finally, HighTower Advisors LLC acquired a new position in shares of GeneDx during the fourth quarter worth $349,000. Institutional investors own 61.72% of the company’s stock.

Insider Buying and Selling at GeneDx

In related news, Director Casdin Capital, Llc purchased 140,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average cost of $43.81 per share, with a total value of $6,133,400.00. Following the completion of the purchase, the director owned 3,507,164 shares in the company, valued at approximately $153,648,854.84. This trade represents a 4.16% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith A. Meister purchased 46,273 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was bought at an average cost of $38.91 per share, with a total value of $1,800,482.43. Following the completion of the purchase, the director owned 4,784,570 shares of the company’s stock, valued at approximately $186,167,618.70. This represents a 0.98% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 2,225,941 shares of company stock valued at $95,494,951 and sold 104,028 shares valued at $7,377,165. Insiders own 29.60% of the company’s stock.

GeneDx Price Performance

WGS stock opened at $48.21 on Thursday. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -17.99 and a beta of 2.06. The company has a quick ratio of 2.95, a current ratio of 3.09 and a debt-to-equity ratio of 0.38. GeneDx Holdings Corp. has a 12-month low of $32.21 and a 12-month high of $170.87. The company’s fifty day simple moving average is $58.00 and its 200 day simple moving average is $96.72.

GeneDx (NASDAQ:WGS) last released its earnings results on Monday, May 4th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.22). The firm had revenue of $102.25 million during the quarter, compared to analyst estimates of $112.46 million. GeneDx had a negative net margin of 17.58% and a positive return on equity of 9.15%. During the same quarter in the previous year, the firm earned ($0.23) EPS. On average, analysts expect that GeneDx Holdings Corp. will post -1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on WGS shares. Craig Hallum reiterated a “buy” rating and set a $85.00 price target on shares of GeneDx in a report on Tuesday, May 5th. Guggenheim cut their price target on shares of GeneDx from $100.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Jefferies Financial Group set a $150.00 price target on shares of GeneDx in a report on Monday, February 23rd. Wall Street Zen lowered shares of GeneDx from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Zacks Research lowered shares of GeneDx from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, GeneDx presently has an average rating of “Moderate Buy” and an average target price of $96.43.

About GeneDx

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.