Sumitomo Mitsui Trust Group Inc. boosted its stake in GeneDx Holdings Corp. (NASDAQ:WGS – Free Report) by 65.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 633,457 shares of the company’s stock after purchasing an additional 251,732 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in GeneDx were worth $40,681,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Kestra Advisory Services LLC purchased a new position in shares of GeneDx during the fourth quarter valued at about $27,000. Quarry LP lifted its position in shares of GeneDx by 248.8% in the third 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. Ramirez Asset Management Inc. bought a new position in GeneDx during the fourth quarter valued at approximately $33,000. Greenline Wealth Management LLC bought a new position in GeneDx during the fourth quarter valued at approximately $33,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in GeneDx during the 4th quarter valued at approximately $35,000. Institutional investors own 61.72% of the company’s stock.
Analyst Ratings Changes
A number of research firms have issued reports on WGS. Zacks Research downgraded GeneDx from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Piper Sandler reissued an “overweight” rating and issued a $63.00 target price (up from $50.00) on shares of GeneDx in a report on Tuesday, June 23rd. Guggenheim restated a “buy” rating and issued a $74.00 price target (up from $70.00) on shares of GeneDx in a research report on Monday, June 29th. Wall Street Zen downgraded shares of GeneDx from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, BTIG Research lowered their price objective on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, GeneDx currently has an average rating of “Moderate Buy” and an average target price of $87.43.
GeneDx Stock Performance
NASDAQ WGS opened at $65.64 on Monday. The stock has a market cap of $1.95 billion, a PE ratio of -24.49 and a beta of 1.90. GeneDx Holdings Corp. has a 12 month low of $32.21 and a 12 month high of $170.87. The company’s 50-day moving average price is $54.47 and its 200-day moving average price is $76.94. The company has a current ratio of 3.09, a quick ratio of 2.95 and a debt-to-equity ratio of 0.38.
GeneDx (NASDAQ:WGS – Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). The company had revenue of $102.25 million for 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 quarter in the previous year, the business earned ($0.23) EPS. Equities research analysts forecast that GeneDx Holdings Corp. will post -1 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Casdin Capital, Llc purchased 185,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of $42.60 per share, for a total transaction of $7,881,000.00. Following the completion of the acquisition, the director owned 3,367,164 shares of the company’s stock, valued at approximately $143,441,186.40. This trade represents a 5.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Keith A. Meister acquired 533,758 shares of GeneDx stock in a transaction on Thursday, May 7th. The shares were purchased at an average price of $37.86 per share, for a total transaction of $20,208,077.88. Following the completion of the acquisition, the director directly owned 3,761,908 shares in the company, valued at $142,425,836.88. This trade represents a 16.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 2,256,420 shares of company stock worth $93,144,340 and have sold 21,699 shares worth $1,295,646. Company insiders own 25.17% of the company’s stock.
Key Stories Impacting GeneDx
Here are the key news stories impacting GeneDx this week:
- Negative Sentiment: Fresh class action and deadline notices are reinforcing litigation risk around GeneDx, which can pressure the stock as investors focus on potential damages, legal costs, and management distraction. Article: GeneDx Holdings (WGS) Hit with Securities Class Action Following 49% Stock Collapse – HBSS
- Negative Sentiment: Law firms are actively recruiting lead plaintiffs ahead of the August 3 deadline, keeping the securities-fraud allegations in the spotlight and adding to overhang on the shares. Article: WGS INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that GeneDx Holdings Corp. Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit
- Negative Sentiment: Additional reminders from Rosen, Kahn Swick & Foti, the Schall Law Firm, Bernstein Liebhard, and others suggest the litigation narrative is broadening rather than fading, which is unfavorable for investor confidence. Article: ROSEN, A LEADING LAW FIRM, Encourages GeneDx Holdings Corp. Investors to Secure Counsel Before Important Deadline in Securities Class Action – WGS
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.
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