85,763 Shares in GeneDx Holdings Corp. $WGS Bought by Peregrine Capital Management LLC

Peregrine Capital Management LLC acquired a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 85,763 shares of the company’s stock, valued at approximately $7,917,000.

Several other hedge funds have also added to or reduced their stakes in the business. William Blair Investment Management LLC raised its stake in GeneDx by 37.2% during the 2nd quarter. William Blair Investment Management LLC now owns 1,631,402 shares of the company’s stock worth $150,595,000 after buying an additional 442,414 shares during the period. Vanguard Group Inc. raised its stake in shares of GeneDx by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 1,031,326 shares of the company’s stock valued at $91,339,000 after purchasing an additional 25,116 shares during the period. Fred Alger Management LLC raised its stake in shares of GeneDx by 2.0% in the 1st quarter. Fred Alger Management LLC now owns 557,018 shares of the company’s stock valued at $49,332,000 after purchasing an additional 10,964 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in shares of GeneDx in the 1st quarter valued at about $44,614,000. Finally, Zweig DiMenna Associates LLC raised its stake in shares of GeneDx by 47.7% in the 1st quarter. Zweig DiMenna Associates LLC now owns 457,100 shares of the company’s stock valued at $40,483,000 after purchasing an additional 147,600 shares during the period. Institutional investors and hedge funds own 61.72% of the company’s stock.

Wall Street Analyst Weigh In

WGS has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on GeneDx from $78.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. BTIG Research lifted their price target on GeneDx from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Wall Street Zen raised GeneDx from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Zacks Research downgraded GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, GeneDx presently has an average rating of “Moderate Buy” and an average price target of $112.80.

Insider Transactions at GeneDx

In related news, Director Casdin Capital, Llc sold 500,000 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 3,007,164 shares in the company, valued at approximately $363,566,127.60. The trade was a 14.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Katherine Stueland sold 10,501 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $121.47, for a total value of $1,275,556.47. Following the sale, the chief executive officer directly owned 14,578 shares in the company, valued at $1,770,789.66. This represents a 41.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 553,829 shares of company stock worth $67,221,616 over the last three months. Company insiders own 29.60% of the company’s stock.

GeneDx Price Performance

GeneDx stock opened at $130.66 on Tuesday. GeneDx Holdings Corp. has a 12 month low of $55.17 and a 12 month high of $136.00. The stock’s 50 day moving average is $123.32 and its 200-day moving average is $97.97. The company has a current ratio of 2.87, a quick ratio of 2.70 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 2,613.20 and a beta of 1.98.

GeneDx (NASDAQ:WGS) last posted its earnings results on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.10 by $0.40. GeneDx had a return on equity of 16.51% and a net margin of 0.39%.The company had revenue of $102.69 million for the quarter, compared to the consensus estimate of $86.00 million. Equities research analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

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.