Insider Buying: GeneDx (NASDAQ:WGS) Director Buys $2,643,000.00 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Casdin Capital, Llc purchased 50,000 shares of the stock in a transaction on Friday, June 5th. The stock was acquired at an average cost of $52.86 per share, for a total transaction of $2,643,000.00. Following the acquisition, the director directly owned 3,707,164 shares in the company, valued at approximately $195,960,689.04. This trade represents a 1.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Casdin Capital, Llc also recently made the following trade(s):

• On Thursday, June 4th, Casdin Capital, Llc purchased 150,000 shares of GeneDx stock. The stock was acquired at an average cost of $56.44 per share, for a total transaction of $8,466,000.00.
• On Wednesday, May 20th, Casdin Capital, Llc purchased 140,000 shares of GeneDx stock. The stock was acquired at an average cost of $43.81 per share, for a total transaction of $6,133,400.00.
• On Tuesday, May 19th, Casdin Capital, Llc purchased 185,000 shares of GeneDx stock. The stock was acquired at an average cost of $42.60 per share, for a total transaction of $7,881,000.00.
• On Monday, May 18th, Casdin Capital, Llc purchased 175,000 shares of GeneDx stock. The stock was acquired at an average cost of $42.55 per share, for a total transaction of $7,446,250.00.

GeneDx Trading Down 3.6%

Shares of GeneDx stock opened at $54.32 on Thursday. The firm has a market capitalization of $1.61 billion, a PE ratio of -20.27 and a beta of 1.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.09 and a quick ratio of 2.95. The company’s fifty day moving average price is $55.13 and its two-hundred day moving average price is $91.01. GeneDx Holdings Corp. has a 52-week low of $32.21 and a 52-week high of $170.87.

GeneDx (NASDAQ:WGS) last announced its quarterly 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 business had revenue of $102.25 million during the quarter, compared to the consensus estimate 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 period last year, the firm earned ($0.23) EPS. On average, analysts expect that GeneDx Holdings Corp. will post -1 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on WGS. Craig Hallum restated a “buy” rating and issued a $85.00 target price on shares of GeneDx in a research note on Tuesday, May 5th. Wells Fargo & Company restated an “overweight” rating and issued a $75.00 target price (down from $155.00) on shares of GeneDx in a research note on Tuesday, May 5th. Zacks Research downgraded shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Jefferies Financial Group set a $150.00 target price on shares of GeneDx in a research note on Monday, February 23rd. Finally, Wall Street Zen downgraded shares of GeneDx from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.43.

More GeneDx News

Here are the key news stories impacting GeneDx this week:

• Positive Sentiment: Casdin Capital, a director-linked investor, disclosed another sizable insider purchase of GeneDx shares, adding to a recent pattern of buying that may signal confidence in the company’s longer-term outlook. SEC filing
• Positive Sentiment: Earlier insider buying by Casdin Capital at prices above and near current trading levels may help reassure investors that some insiders view the stock as undervalued after the recent drawdown. SEC filing
• Neutral Sentiment: Analyst sentiment remains mixed but still constructive overall, with the stock carrying a “Moderate Buy” consensus and a price target well above recent trading levels, which may provide some support over time.
• Negative Sentiment: GeneDx is facing a growing stack of class-action notices and investor-rights campaigns, creating a legal overhang that can weigh on sentiment and raise uncertainty for shareholders. Article reference
• Negative Sentiment: The lawsuits center on allegations that the company hid deteriorating reimbursement rates and margin compression, while the stock’s prior plunge after Q1 results remains a major concern for investors. Article reference

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WGS. Jones Financial Companies Lllp lifted its position in GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after buying an additional 186 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in GeneDx during the 4th quarter worth about $27,000. Fifth Third Bancorp acquired a new position in GeneDx during the 1st quarter worth about $31,000. Quarry LP lifted its position in GeneDx by 248.8% during the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after buying an additional 209 shares in the last quarter. Finally, Ramirez Asset Management Inc. acquired a new position in GeneDx during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.