Simplify Asset Management Inc. Invests $5.23 Million in GeneDx Holdings Corp. $WGS

Simplify Asset Management Inc. bought a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 56,700 shares of the company’s stock, valued at approximately $5,234,000. GeneDx comprises 0.3% of Simplify Asset Management Inc.’s holdings, making the stock its 23rd biggest position. Simplify Asset Management Inc. owned 0.20% of GeneDx as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in GeneDx by 3,223.5% in the first quarter. US Bancorp DE now owns 565 shares of the company’s stock worth $50,000 after acquiring an additional 548 shares in the last quarter. AlphaQuest LLC raised its position in shares of GeneDx by 351.5% in the 2nd quarter. AlphaQuest LLC now owns 763 shares of the company’s stock valued at $70,000 after purchasing an additional 594 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of GeneDx in the 1st quarter valued at approximately $132,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in GeneDx by 184.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,224 shares of the company’s stock worth $197,000 after purchasing an additional 1,443 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in GeneDx during the 2nd quarter worth approximately $204,000. 61.72% of the stock is owned by institutional investors and hedge funds.

GeneDx Stock Performance

NASDAQ WGS opened at $142.62 on Tuesday. The firm has a market capitalization of $4.10 billion, a P/E ratio of 1,584.67 and a beta of 2.01. The stock has a 50-day simple moving average of $125.67 and a two-hundred day simple moving average of $100.69. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.59 and a current ratio of 2.71. GeneDx Holdings Corp. has a fifty-two week low of $55.17 and a fifty-two week high of $147.71.

GeneDx (NASDAQ:WGS) last issued its 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. The firm had revenue of $116.74 million for the quarter, compared to the consensus estimate of $104.33 million. GeneDx had a return on equity of 20.22% and a net margin of 0.52%. GeneDx has set its FY 2025 guidance at EPS. On average, equities analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a report on Wednesday, October 8th. BTIG Research lifted their price target on GeneDx from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Piper Sandler boosted their price target on GeneDx from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Canaccord Genuity Group set a $160.00 price objective on GeneDx and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Guggenheim reaffirmed a “buy” rating and set a $170.00 target price (up previously from $115.00) on shares of GeneDx in a report on Wednesday, October 29th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.22.

Insider Activity

In other GeneDx news, CFO Kevin Feeley sold 388 shares of GeneDx stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $136.54, for a total value of $52,977.52. Following the completion of the transaction, the chief financial officer owned 3,757 shares of the company’s stock, valued at approximately $512,980.78. The trade was a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Casdin Capital, Llc sold 500,000 shares of the firm’s stock in a transaction dated 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 sale, the director owned 3,007,164 shares in the company, valued at $363,566,127.60. This trade represents a 14.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 556,375 shares of company stock worth $67,569,247 over the last 90 days. Company insiders own 29.60% of the company’s stock.

About GeneDx

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.