GeneDx Holdings Corp. $WGS Shares Sold by Gagnon Advisors LLC

Gagnon Advisors LLC lessened its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 8.3% in the third quarter, Holdings Channel reports. The institutional investor owned 163,024 shares of the company’s stock after selling 14,846 shares during the period. GeneDx accounts for approximately 6.5% of Gagnon Advisors LLC’s portfolio, making the stock its 3rd biggest position. Gagnon Advisors LLC’s holdings in GeneDx were worth $11,787,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Calamos Advisors LLC purchased a new stake in shares of GeneDx in the third quarter worth $225,000. Moody Aldrich Partners LLC boosted its stake in GeneDx by 131.9% in the 3rd quarter. Moody Aldrich Partners LLC now owns 36,064 shares of the company’s stock worth $2,607,000 after purchasing an additional 20,511 shares in the last quarter. Sterling Capital Management LLC boosted its stake in GeneDx by 851.4% in the 3rd quarter. Sterling Capital Management LLC now owns 666 shares of the company’s stock worth $48,000 after purchasing an additional 596 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in GeneDx by 108.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 632,413 shares of the company’s stock worth $45,723,000 after purchasing an additional 328,980 shares in the last quarter. Finally, First Light Asset Management LLC grew its position in GeneDx by 222.7% during the 2nd quarter. First Light Asset Management LLC now owns 783,923 shares of the company’s stock valued at $53,816,000 after purchasing an additional 540,996 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

GeneDx Stock Down 5.9%

GeneDx stock opened at $51.87 on Friday. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -13.72 and a beta of 2.00. The stock has a fifty day simple moving average of $74.53 and a two-hundred day simple moving average of $70.42. GeneDx Holdings Corp. has a 12 month low of $32.21 and a 12 month high of $170.87. The company has a current ratio of 4.16, a quick ratio of 3.06 and a debt-to-equity ratio of 0.60.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Monday, November 9th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.21. The firm had revenue of $123.10 million for the quarter, compared to the consensus estimate of $122.93 million. GeneDx had a positive return on equity of 1.98% and a negative net margin of 24.10%. During the same period in the prior year, the company posted ($0.27) earnings per share. Equities analysts predict that GeneDx Holdings Corp. will post -0.41 EPS for the current fiscal year.

Insider Activity

In other GeneDx news, CEO Katherine Stueland sold 10,501 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $97.61, for a total transaction of $1,025,002.61. Following the transaction, the chief executive officer owned 115,476 shares in the company, valued at approximately $11,271,612.36. This represents a 8.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevin Feeley sold 3,728 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $97.61, for a total transaction of $363,890.08. Following the transaction, the chief financial officer owned 44,945 shares in the company, valued at $4,387,081.45. This represents a 7.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 19,206 shares of company stock valued at $1,808,056 over the last quarter. 25.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. BTIG Research restated a “buy” rating and set a $85.00 price objective (down from $90.00) on shares of GeneDx in a research note on Tuesday. Wall Street Zen raised shares of GeneDx from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Canaccord Genuity Group upped their target price on shares of GeneDx from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Guggenheim increased their price target on shares of GeneDx from $74.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, October 1st. Finally, Zacks Research cut shares of GeneDx from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.14.

GeneDx Profile

GeneDx is a genomic testing company focused on helping clinicians diagnose rare and inherited conditions. Its services include whole exome and whole genome sequencing, along with other genetic tests and clinical interpretation of results. The company’s testing is used by healthcare providers to support diagnosis and care decisions, particularly for patients with suspected rare genetic disorders. GeneDx also offers testing related to hereditary cancer risk. Founded in 2000 by researchers with experience at the National Institutes of Health, GeneDx has developed its business around applying genomic information in clinical care.