Simplify Asset Management Inc. Sells 41,071 Shares of GeneDx Holdings Corp. $WGS

Simplify Asset Management Inc. decreased its position in GeneDx Holdings Corp. (NASDAQ:WGS) by 72.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,629 shares of the company’s stock after selling 41,071 shares during the period. Simplify Asset Management Inc. owned about 0.05% of GeneDx worth $1,684,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. AlphaQuest LLC lifted its position in shares of GeneDx by 351.5% during the 2nd quarter. AlphaQuest LLC now owns 763 shares of the company’s stock valued at $70,000 after buying an additional 594 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in GeneDx by 479.0% in the 2nd 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. Ameritas Investment Partners Inc. raised its stake in GeneDx by 61.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,917 shares of the company’s stock valued at $177,000 after acquiring an additional 726 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in GeneDx during the second quarter valued at about $204,000. Finally, Kovack Advisors Inc. bought a new position in GeneDx during the second quarter worth about $232,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

GeneDx Price Performance

NASDAQ:WGS opened at $129.34 on Tuesday. GeneDx Holdings Corp. has a 52-week low of $55.17 and a 52-week high of $170.87. The stock has a fifty day moving average of $142.84 and a 200 day moving average of $119.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.59 and a current ratio of 2.71. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 1,437.11 and a beta of 1.98.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.21. The firm had revenue of $116.74 million for the quarter, compared to analysts’ expectations of $104.33 million. GeneDx had a return on equity of 20.22% and a net margin of 0.52%. On average, research analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Activity at GeneDx

In other GeneDx news, Director Joshua Ruch sold 38,000 shares of GeneDx stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $160.37, for a total transaction of $6,094,060.00. Following the completion of the sale, the director directly owned 11,941 shares in the company, valued at $1,914,978.17. The trade was a 76.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin Feeley sold 3,855 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $143.87, for a total transaction of $554,618.85. Following the completion of the transaction, the chief financial officer directly owned 8,731 shares in the company, valued at $1,256,128.97. The trade was a 30.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 60,163 shares of company stock valued at $9,339,792 over the last three months. 29.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on WGS. Zacks Research lowered shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Wells Fargo & Company set a $155.00 price target on GeneDx and gave the stock an “equal weight” rating in a report on Monday, December 15th. Guggenheim reiterated a “buy” rating and set a $170.00 price objective (up from $115.00) on shares of GeneDx in a research note on Wednesday, October 29th. BTIG Research increased their price objective on GeneDx from $165.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, Piper Sandler lifted their target price on GeneDx from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.89.

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.