GeneDx (NASDAQ:WGS) Director Purchases $7,881,000.00 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Casdin Capital, Llc bought 185,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average cost of $42.60 per share, for a total transaction of $7,881,000.00. Following the completion of the transaction, the director directly owned 3,367,164 shares of the company’s stock, valued at approximately $143,441,186.40. The trade was a 5.81% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Casdin Capital, Llc also recently made the following trade(s):

• On Wednesday, May 20th, Casdin Capital, Llc bought 140,000 shares of GeneDx stock. The stock was purchased at an average cost of $43.81 per share, for a total transaction of $6,133,400.00.
• On Monday, May 18th, Casdin Capital, Llc bought 175,000 shares of GeneDx stock. The stock was purchased at an average cost of $42.55 per share, for a total transaction of $7,446,250.00.

GeneDx Trading Down 0.0%

Shares of NASDAQ:WGS opened at $47.31 on Friday. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -17.65 and a beta of 2.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.95 and a current ratio of 3.09. The stock’s 50-day simple moving average is $59.72 and its two-hundred day simple moving average is $98.90. GeneDx Holdings Corp. has a 52-week low of $32.21 and a 52-week high of $170.87.

GeneDx (NASDAQ:WGS) last announced its earnings results on Monday, May 4th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.22). The firm had revenue of $102.25 million during the quarter, compared to analysts’ expectations of $112.46 million. GeneDx had a positive return on equity of 9.15% and a negative net margin of 17.58%.During the same period in the previous year, the business posted ($0.23) earnings per share. Analysts expect that GeneDx Holdings Corp. will post -1 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WGS. Craig Hallum reaffirmed a “buy” rating and set a $85.00 price objective on shares of GeneDx in a research report on Tuesday, May 5th. Guggenheim lowered their price objective on GeneDx from $100.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Jefferies Financial Group set a $150.00 price objective on GeneDx in a research report on Monday, February 23rd. BTIG Research lowered their price objective on GeneDx from $170.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Finally, Canaccord Genuity Group set a $75.00 price objective on GeneDx and gave the company a “buy” rating in a research report on Tuesday, May 5th. Six 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’s stock. According to data from MarketBeat, GeneDx currently has an average rating of “Moderate Buy” and a consensus target price of $96.43.

Institutional Trading of GeneDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System raised its stake in GeneDx by 2.1% during the 4th quarter. Arizona State Retirement System now owns 5,594 shares of the company’s stock valued at $728,000 after purchasing an additional 113 shares during the period. Cerity Partners LLC raised its stake in GeneDx by 6.0% during the 4th quarter. Cerity Partners LLC now owns 2,527 shares of the company’s stock valued at $329,000 after purchasing an additional 142 shares during the period. Main Management ETF Advisors LLC raised its stake in GeneDx by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 15,660 shares of the company’s stock valued at $2,037,000 after purchasing an additional 160 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in GeneDx by 5.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,702 shares of the company’s stock valued at $399,000 after purchasing an additional 181 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after purchasing an additional 186 shares during the period. Institutional investors own 61.72% 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.