The Manufacturers Life Insurance Company Sells 12,820 Shares of GeneDx Holdings Corp. $WGS

The Manufacturers Life Insurance Company decreased its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 51.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,053 shares of the company’s stock after selling 12,820 shares during the period. The Manufacturers Life Insurance Company’s holdings in GeneDx were worth $774,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada increased its position in shares of GeneDx by 30.2% during the first quarter. Royal Bank of Canada now owns 29,479 shares of the company’s stock worth $2,611,000 after purchasing an additional 6,840 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of GeneDx by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock worth $677,000 after purchasing an additional 453 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of GeneDx by 270,700.0% in the 1st quarter. NewEdge Advisors LLC now owns 2,708 shares of the company’s stock worth $240,000 after purchasing an additional 2,707 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in GeneDx by 67.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,224 shares of the company’s stock worth $2,500,000 after buying an additional 11,375 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in GeneDx during the 2nd quarter worth $249,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WGS has been the subject of a number of research analyst reports. Wall Street Zen upgraded GeneDx from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Guggenheim restated a “buy” rating and set a $74.00 price target (up from $70.00) on shares of GeneDx in a research note on Monday, June 29th. Weiss Ratings upgraded shares of GeneDx from a “sell (e+)” rating to a “sell (d)” rating in a report on Tuesday, August 4th. Craig Hallum reaffirmed a “buy” rating and issued a $85.00 price objective on shares of GeneDx in a research report on Tuesday, May 5th. Finally, Zacks Research upgraded shares of GeneDx from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.57.

GeneDx Trading Down 3.9%

Shares of NASDAQ:WGS opened at $79.15 on Friday. GeneDx Holdings Corp. has a 52-week low of $32.21 and a 52-week high of $170.87. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -21.74 and a beta of 1.92. The company has a quick ratio of 3.06, a current ratio of 3.30 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $64.97 and a 200-day moving average price of $67.72.

GeneDx (NASDAQ:WGS) last released its earnings results on Monday, August 3rd. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.20. The firm had revenue of $114.44 million during the quarter, compared to the consensus estimate of $111.01 million. GeneDx had a positive return on equity of 4.12% and a negative net margin of 23.41%.During the same quarter in the previous year, the company posted $0.36 earnings per share. Equities analysts predict that GeneDx Holdings Corp. will post -1 EPS for the current year.

Insider Buying and Selling at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 3,729 shares of GeneDx stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $60.77, for a total transaction of $226,611.33. Following the completion of the sale, the chief financial officer directly owned 39,954 shares in the company, valued at approximately $2,428,004.58. The trade was a 8.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Katherine Stueland sold 10,501 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $60.77, for a total transaction of $638,145.77. Following the completion of the sale, the chief executive officer directly owned 104,372 shares in the company, valued at $6,342,686.44. This trade represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders acquired 700,000 shares of company stock worth $32,569,650 and sold 19,135 shares worth $1,128,499. Company insiders own 25.17% of the company’s stock.

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.