Granahan Investment Management LLC Has $2.55 Million Position in GeneDx Holdings Corp. $WGS

Granahan Investment Management LLC boosted its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 105.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 23,709 shares of the company’s stock after purchasing an additional 12,159 shares during the period. Granahan Investment Management LLC’s holdings in GeneDx were worth $2,554,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its position in GeneDx by 101.9% in the third quarter. Franklin Resources Inc. now owns 681,381 shares of the company’s stock worth $73,412,000 after acquiring an additional 343,954 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in GeneDx by 164.8% in the second quarter. Westfield Capital Management Co. LP now owns 589,188 shares of the company’s stock worth $54,388,000 after purchasing an additional 366,711 shares in the last quarter. Invesco Ltd. increased its position in GeneDx by 42.3% during the second quarter. Invesco Ltd. now owns 554,419 shares of the company’s stock worth $51,178,000 after buying an additional 164,840 shares during the last quarter. Geode Capital Management LLC increased its position in GeneDx by 23.4% during the second quarter. Geode Capital Management LLC now owns 484,714 shares of the company’s stock worth $44,750,000 after buying an additional 91,989 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in GeneDx by 15.1% during the third quarter. Raymond James Financial Inc. now owns 475,543 shares of the company’s stock valued at $51,235,000 after buying an additional 62,320 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Keith A. Meister bought 140,026 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was purchased at an average cost of $81.19 per share, for a total transaction of $11,368,710.94. Following the purchase, the director directly owned 3,228,150 shares in the company, valued at $262,093,498.50. This trade represents a 4.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Bryan Dechairo sold 5,961 shares of the stock in a transaction on Wednesday, February 4th. The shares were 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. Insiders sold a total of 42,990 shares of company stock valued at $3,523,422 over the last ninety days. 29.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Jefferies Financial Group set a $150.00 price target on GeneDx in a research report on Monday, February 23rd. BTIG Research cut their price objective on GeneDx from $200.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Canaccord Genuity Group boosted their target price on GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Wall Street Zen cut GeneDx from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Zacks Research upgraded GeneDx from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, GeneDx currently has a consensus rating of “Moderate Buy” and an average price target of $150.71.

GeneDx Trading Down 2.1%

GeneDx stock opened at $76.11 on Tuesday. GeneDx Holdings Corp. has a 52 week low of $55.17 and a 52 week high of $170.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.34 and a current ratio of 2.46. The firm has a market capitalization of $2.23 billion, a PE ratio of -101.48 and a beta of 2.03. The business’s 50-day simple moving average is $95.16 and its 200-day simple moving average is $120.38.

GeneDx (NASDAQ:WGS) last announced its 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 positive return on equity of 14.73% and a negative net margin of 4.92%. Equities research analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

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.