Massachusetts Financial Services Co. MA Sells 10,329 Shares of GeneDx Holdings Corp. $WGS

Massachusetts Financial Services Co. MA lowered its position in GeneDx Holdings Corp. (NASDAQ:WGS) by 4.9% in the 4th quarter, Holdings Channel reports. The firm owned 198,926 shares of the company’s stock after selling 10,329 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in GeneDx were worth $25,872,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in GeneDx by 5.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,702 shares of the company’s stock worth $399,000 after purchasing an additional 181 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in GeneDx by 664.3% in the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after purchasing an additional 186 shares during the last quarter. Quarry LP increased its position in shares of GeneDx by 248.8% during the third quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 209 shares during the period. Chung Wu Investment Group LLC increased its position in shares of GeneDx by 9.1% during the third quarter. Chung Wu Investment Group LLC now owns 3,600 shares of the company’s stock worth $388,000 after acquiring an additional 300 shares during the period. Finally, Kovack Advisors Inc. increased its position in shares of GeneDx by 14.3% during the third quarter. Kovack Advisors Inc. now owns 2,868 shares of the company’s stock worth $309,000 after acquiring an additional 358 shares during the period. Institutional investors own 61.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WGS. Guggenheim reduced their target price on shares of GeneDx from $170.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Canaccord Genuity Group raised their target price on shares of GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. BTIG Research reduced their target price on shares of GeneDx from $200.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Zacks Research raised shares of GeneDx from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, GeneDx presently has a consensus rating of “Moderate Buy” and an average target price of $140.71.

Insider Buying and Selling at GeneDx

In other GeneDx news, Director Keith A. Meister acquired 140,026 shares of GeneDx stock in a transaction that occurred on Thursday, March 5th. The stock was bought at an average price of $81.19 per share, with a total value of $11,368,710.94. Following the completion of the purchase, the director directly owned 3,228,150 shares of the company’s stock, valued at approximately $262,093,498.50. This represents a 4.53% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Katherine Stueland sold 46,933 shares of the business’s stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $63.17, for a total transaction of $2,964,757.61. Following the completion of the transaction, the chief executive officer directly owned 91,514 shares of the company’s stock, valued at $5,780,939.38. This trade represents a 33.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 112,808 shares of company stock worth $8,245,748. 29.60% of the stock is currently owned by corporate insiders.

GeneDx Stock Performance

Shares of NASDAQ:WGS opened at $67.46 on Thursday. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -89.95 and a beta of 2.17. GeneDx Holdings Corp. has a 52 week low of $55.17 and a 52 week high of $170.87. The company has a quick ratio of 2.34, a current ratio of 2.46 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $76.63 and a 200 day moving average of $111.27.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Monday, February 23rd. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $120.99 million during the quarter, compared to the consensus estimate of $120.80 million. GeneDx had a negative net margin of 4.92% and a positive return on equity of 14.73%. On average, sell-side analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

GeneDx Profile

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.