Farallon Capital Management LLC Sells 321,677 Shares of GeneDx Holdings Corp. $WGS

Farallon Capital Management LLC reduced its holdings in GeneDx Holdings Corp. (NASDAQ:WGS) by 98.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,000 shares of the company’s stock after selling 321,677 shares during the period. Farallon Capital Management LLC’s holdings in GeneDx were worth $539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its holdings in shares of GeneDx by 664.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after acquiring an additional 186 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of GeneDx in the third quarter valued at $65,000. AlphaQuest LLC raised its stake in shares of 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 period. Tower Research Capital LLC TRC raised its stake in shares of 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 period. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of GeneDx by 61.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,917 shares of the company’s stock worth $177,000 after acquiring an additional 726 shares during the last quarter. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

GeneDx Price Performance

Shares of WGS stock opened at $77.78 on Monday. 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’s 50-day simple moving average is $96.27 and its two-hundred day simple moving average is $120.75. GeneDx Holdings Corp. has a one year low of $55.17 and a one year high of $170.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.46 and a quick ratio of 2.34.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Monday, February 23rd. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. The firm had revenue of $120.99 million during the quarter, compared to the consensus estimate of $120.80 million. GeneDx had a negative net margin of 4.92% and a positive return on equity of 14.73%. As a group, equities analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Transactions at GeneDx

In other news, CFO Kevin Feeley sold 6,187 shares of the stock in a transaction on 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 owned 18,674 shares of the company’s stock, valued at approximately $1,467,963.14. This represents a 24.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Katherine Stueland sold 25,459 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $78.61, for a total value of $2,001,331.99. Following the transaction, the chief executive officer owned 38,683 shares in the company, valued at approximately $3,040,870.63. This represents a 39.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 57,702 shares of company stock valued at $5,640,255. Company insiders own 29.60% of the company’s stock.

Wall Street Analyst Weigh In

WGS has been the subject of a number of recent analyst reports. Canaccord Genuity Group lifted their price target on shares of GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Wells Fargo & Company raised shares of GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research note on Monday, February 9th. Zacks Research upgraded GeneDx from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 25th. Wall Street Zen cut GeneDx from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $130.00 price target (down from $160.00) on shares of GeneDx in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $150.71.

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.