Telemark Asset Management LLC Invests $12.93 Million in GeneDx Holdings Corp. $WGS

Telemark Asset Management LLC acquired a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 120,000 shares of the company’s stock, valued at approximately $12,929,000. GeneDx comprises approximately 1.2% of Telemark Asset Management LLC’s investment portfolio, making the stock its 25th largest position. Telemark Asset Management LLC owned approximately 0.42% of GeneDx as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its holdings in GeneDx by 42.7% during the second quarter. Rhumbline Advisers now owns 27,610 shares of the company’s stock valued at $2,549,000 after buying an additional 8,258 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of GeneDx by 340.4% during the 3rd quarter. Principal Financial Group Inc. now owns 59,624 shares of the company’s stock worth $6,424,000 after acquiring an additional 46,085 shares during the last quarter. Impax Asset Management Group plc bought a new stake in shares of GeneDx during the 3rd quarter valued at $5,387,000. Legal & General Group Plc increased its stake in shares of GeneDx by 55.9% in the 2nd quarter. Legal & General Group Plc now owns 22,271 shares of the company’s stock worth $2,056,000 after purchasing an additional 7,987 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of GeneDx in the 2nd quarter worth $589,000. Institutional investors own 61.72% of the company’s stock.

GeneDx Stock Performance

NASDAQ:WGS opened at $82.06 on Friday. The stock has a 50-day moving average price of $112.39 and a 200 day moving average price of $124.65. The stock has a market capitalization of $2.37 billion, a P/E ratio of 911.78 and a beta of 2.00. GeneDx Holdings Corp. has a 12-month low of $55.17 and a 12-month high of $170.87. The company has a current ratio of 2.71, a quick ratio of 2.59 and a debt-to-equity ratio of 0.18.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WGS shares. Wall Street Zen downgraded GeneDx from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Wells Fargo & Company raised GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price objective on the stock in a research report on Monday, February 9th. BTIG Research boosted their price objective on GeneDx from $165.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Guggenheim reissued a “buy” rating and issued a $170.00 target price (up from $115.00) on shares of GeneDx in a report on Wednesday, October 29th. Finally, Canaccord Genuity Group lifted their price target on shares of GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $146.43.

Insider Activity at GeneDx

In other news, CEO Katherine Stueland sold 1,653 shares of GeneDx stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $94.00, for a total transaction of $155,382.00. Following the sale, the chief executive officer owned 16,458 shares in the company, valued at $1,547,052. This trade represents a 9.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Bryan Dechairo sold 5,961 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $85.70, for a total transaction of $510,857.70. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 68,961 shares of company stock valued at $10,027,891. Corporate insiders own 29.60% of the company’s stock.

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.