Kovack Advisors Inc. Makes New $232,000 Investment in GeneDx Holdings Corp. $WGS

Kovack Advisors Inc. purchased a new stake in GeneDx Holdings Corp. (NASDAQ:WGS) during the 2nd quarter, HoldingsChannel reports. The fund purchased 2,510 shares of the company’s stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. William Blair Investment Management LLC raised its position in shares of GeneDx by 37.2% in the second quarter. William Blair Investment Management LLC now owns 1,631,402 shares of the company’s stock valued at $150,595,000 after purchasing an additional 442,414 shares during the period. Vanguard Group Inc. raised its position in shares of GeneDx by 2.5% in the first 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 position in shares of GeneDx by 2.0% in the first 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. bought a new stake in shares of GeneDx in the first quarter valued at approximately $44,614,000. Finally, Zweig DiMenna Associates LLC raised its position in shares of GeneDx by 47.7% in the first 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 own 61.72% of the company’s stock.

GeneDx Price Performance

Shares of NASDAQ:WGS opened at $136.91 on Monday. The company has a current ratio of 2.71, a quick ratio of 2.59 and a debt-to-equity ratio of 0.18. GeneDx Holdings Corp. has a 12 month low of $55.17 and a 12 month high of $146.00. The stock has a market cap of $3.93 billion, a P/E ratio of 1,521.22 and a beta of 2.00. The company has a 50 day moving average of $124.27 and a 200 day moving average of $98.99.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.21. GeneDx had a net margin of 0.52% and a return on equity of 20.22%. The business had revenue of $116.74 million during the quarter, compared to analysts’ expectations of $104.33 million. GeneDx has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Activity at GeneDx

In other GeneDx news, Director Casdin Capital, Llc sold 500,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $120.90, for a total value of $60,450,000.00. Following the completion of the transaction, the director owned 3,007,164 shares of the company’s stock, valued at $363,566,127.60. The trade was a 14.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jason Ryan sold 38,072 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $127.30, for a total transaction of $4,846,565.60. Following the completion of the transaction, the director directly owned 103,284 shares of the company’s stock, valued at approximately $13,148,053.20. This represents a 26.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 556,375 shares of company stock worth $67,569,247 in the last 90 days. 29.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on WGS shares. Wall Street Zen lowered shares of GeneDx from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Research lowered shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. BTIG Research boosted their price objective on shares of GeneDx from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Piper Sandler boosted their price objective on shares of GeneDx from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Finally, Guggenheim reaffirmed a “buy” rating and set a $170.00 price objective (up previously from $115.00) on shares of GeneDx in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, GeneDx has an average rating of “Moderate Buy” and a consensus target price of $124.22.

GeneDx 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.