Portolan Capital Management LLC Sells 118,180 Shares of GeneDx Holdings Corp. $WGS

Portolan Capital Management LLC reduced its stake in GeneDx Holdings Corp. (NASDAQ:WGS) by 72.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 44,048 shares of the company’s stock after selling 118,180 shares during the period. Portolan Capital Management LLC’s holdings in GeneDx were worth $4,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. ARK Investment Management LLC acquired a new stake in shares of GeneDx during the 3rd quarter worth about $48,157,000. Westfield Capital Management Co. LP grew its stake in GeneDx by 164.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 589,188 shares of the company’s stock valued at $54,388,000 after buying an additional 366,711 shares during the last quarter. Franklin Resources Inc. grew its stake in GeneDx by 101.9% in the 3rd quarter. Franklin Resources Inc. now owns 681,381 shares of the company’s stock valued at $73,412,000 after buying an additional 343,954 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in GeneDx in the 3rd quarter valued at about $31,488,000. Finally, Amova Asset Management Americas Inc. acquired a new stake in GeneDx during the third quarter worth approximately $31,444,000. 61.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Katherine Stueland sold 25,459 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $78.61, for a total transaction of $2,001,331.99. Following the completion of the sale, the chief executive officer directly owned 38,683 shares in the company, valued at approximately $3,040,870.63. This represents a 39.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Keith A. Meister bought 140,026 shares of GeneDx stock in a transaction dated Thursday, March 5th. The shares were bought at an average cost of $81.19 per share, for a total transaction of $11,368,710.94. Following the completion of the acquisition, the director owned 3,228,150 shares in the company, valued at $262,093,498.50. This represents a 4.53% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders sold 57,702 shares of company stock worth $5,640,255. 29.60% of the stock is owned by corporate insiders.

GeneDx Stock Performance

NASDAQ WGS opened at $77.78 on Friday. The firm has a 50-day moving average price of $96.27 and a two-hundred day moving average price of $120.85. GeneDx Holdings Corp. has a 12-month low of $55.17 and a 12-month high of $170.87. The company has a market capitalization of $2.28 billion, a P/E ratio of -103.71 and a beta of 2.03. 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 (NASDAQ:WGS) last announced its earnings results on Monday, February 23rd. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. GeneDx had a negative net margin of 4.92% and a positive return on equity of 14.73%. The company had revenue of $120.99 million for the quarter, compared to analysts’ expectations of $120.80 million. Analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Wall Street Analyst Weigh In

WGS has been the subject of a number of research analyst reports. Piper Sandler restated an “overweight” rating and set a $130.00 price objective (down from $160.00) on shares of GeneDx in a report on Tuesday, February 24th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, January 21st. Zacks Research upgraded GeneDx from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. Jefferies Financial Group set a $150.00 price target on GeneDx in a research note on Monday, February 23rd. Finally, Canaccord Genuity Group upped their price objective on GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, GeneDx currently has an average rating of “Moderate Buy” and a consensus target price of $150.71.

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.