Peregrine Capital Management LLC Lowers Position in GeneDx Holdings Corp. $WGS

Peregrine Capital Management LLC lessened its holdings in GeneDx Holdings Corp. (NASDAQ:WGS) by 27.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 54,038 shares of the company’s stock after selling 20,209 shares during the quarter. Peregrine Capital Management LLC’s holdings in GeneDx were worth $7,028,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its position in shares of 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 buying an additional 186 shares in the last quarter. Quarry LP raised 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. Gordian Capital Singapore Pte Ltd bought a new position in GeneDx in the third quarter valued at $65,000. AlphaQuest LLC increased its stake in GeneDx by 70.8% in the third quarter. AlphaQuest LLC now owns 1,303 shares of the company’s stock valued at $140,000 after acquiring an additional 540 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in GeneDx by 479.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,818 shares of the company’s stock valued at $168,000 after acquiring an additional 1,504 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Insider Buying and Selling

In other news, CFO Kevin Feeley sold 6,187 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $78.61, for a total transaction of $486,360.07. Following the transaction, the chief financial officer directly owned 18,674 shares of the company’s stock, valued at approximately $1,467,963.14. This trade represents a 24.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Bryan Dechairo sold 5,961 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $85.70, for a total value of $510,857.70. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 112,808 shares of company stock valued at $8,245,748 over the last three months. 29.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on WGS. Canaccord Genuity Group set a $100.00 target price on GeneDx and gave the company a “buy” rating in a research note on Monday. BTIG Research reduced their target price on GeneDx from $200.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Piper Sandler reissued an “overweight” rating and issued a $130.00 target price (down from $160.00) on shares of GeneDx in a research note on Tuesday, February 24th. Guggenheim reduced their target price on GeneDx from $170.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Finally, Jefferies Financial Group set a $150.00 target price on GeneDx in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $130.71.

GeneDx Stock Down 5.1%

WGS opened at $66.24 on Friday. The stock has a market cap of $1.94 billion, a PE ratio of -88.32 and a beta of 2.17. The company has a quick ratio of 2.34, a current ratio of 2.46 and a debt-to-equity ratio of 0.16. GeneDx Holdings Corp. has a 52 week low of $55.17 and a 52 week high of $170.87. The business’s fifty day simple moving average is $74.00 and its 200 day simple moving average is $109.35.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. GeneDx had a positive return on equity of 14.73% and a negative net margin of 4.92%.The firm had revenue of $120.99 million for the quarter, compared to analysts’ expectations of $120.80 million. As a group, research analysts expect that GeneDx Holdings Corp. will post 0.75 earnings per share for the current fiscal year.

GeneDx Company 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.