Vanguard Group Inc. Has $154.65 Million Stock Holdings in GeneDx Holdings Corp. $WGS

Vanguard Group Inc. increased its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,189,069 shares of the company’s stock after purchasing an additional 18,647 shares during the period. Vanguard Group Inc.’s holdings in GeneDx were worth $154,650,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Impax Asset Management Group plc lifted its stake in GeneDx by 20.0% in the fourth quarter. Impax Asset Management Group plc now owns 60,000 shares of the company’s stock valued at $7,804,000 after buying an additional 10,000 shares during the period. Arizona State Retirement System grew its position in shares of GeneDx by 2.1% during the 4th quarter. Arizona State Retirement System now owns 5,594 shares of the company’s stock worth $728,000 after buying an additional 113 shares during the period. Legacy Capital Group California Inc. bought a new stake in shares of GeneDx in the 4th quarter valued at $1,570,000. Round Rock Advisors LLC acquired a new position in shares of GeneDx during the 4th quarter valued at $305,000. Finally, AMI Asset Management Corp acquired a new position in shares of GeneDx during the 4th quarter valued at $389,000. 61.72% of the stock is currently owned by institutional investors.

Trending Headlines about GeneDx

Here are the key news stories impacting GeneDx this week:

• Positive Sentiment: Director Keith Meister made multiple large open-market purchases of GeneDx shares, including 500,000 shares, 533,758 shares, and 171,389 shares in early May. These buys totaled more than $27 million and signal strong insider confidence in the company’s outlook. Insider Buying: GeneDx (NASDAQ:WGS) Director Acquires 171,389 Shares of Stock
• Neutral Sentiment: The latest insider filing shows Meister increasing his ownership by 4.56% to more than 3.9 million shares, reinforcing the view that a major company insider sees value at current levels. GeneDx (NASDAQ:WGS) Director Keith Meister Acquires 171,389 Shares of Stock
• Negative Sentiment: Multiple law firms announced investigations into GeneDx over potential securities-law violations, which can weigh on the stock because it raises legal and governance uncertainty. WGS SHAREHOLDER ALERT: Investors Encouraged to Contact Kirby McInerney LLP About Potential Securities Laws Violations
• Negative Sentiment: GeneDx’s recent earnings report missed expectations on both EPS and revenue, adding to investor concerns about execution after the company reported a wider-than-expected loss.

Analyst Ratings Changes

WGS has been the subject of a number of research reports. Wall Street Zen cut shares of GeneDx from a “hold” rating to a “sell” rating in a report on Saturday. Canaccord Genuity Group set a $75.00 target price on GeneDx and gave the company a “buy” rating in a research note on Tuesday, May 5th. BTIG Research decreased their target price on GeneDx from $170.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Piper Sandler reaffirmed an “overweight” rating and set a $130.00 price target (down from $160.00) on shares of GeneDx in a research note on Tuesday, February 24th. Finally, Guggenheim cut their price target on GeneDx from $100.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.43.

GeneDx Stock Down 2.8%

GeneDx stock opened at $39.61 on Tuesday. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -14.78 and a beta of 2.06. The firm’s fifty day moving average price is $67.05 and its two-hundred day moving average price is $104.25. GeneDx Holdings Corp. has a 1-year low of $32.21 and a 1-year high of $170.87. The company has a current ratio of 3.09, a quick ratio of 2.95 and a debt-to-equity ratio of 0.38.

GeneDx (NASDAQ:WGS) last posted its earnings results on Monday, May 4th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). GeneDx had a positive return on equity of 9.15% and a negative net margin of 17.58%.The business had revenue of $102.25 million during the quarter, compared to analyst estimates of $112.46 million. During the same quarter in the prior year, the company earned ($0.23) EPS. On average, equities research analysts predict that GeneDx Holdings Corp. will post 0.75 earnings per share for the current fiscal year.

Insider Transactions at GeneDx

In related news, CEO Katherine Stueland sold 2,172 shares of the company’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $65.19, for a total transaction of $141,592.68. Following the completion of the sale, the chief executive officer owned 93,216 shares in the company, valued at approximately $6,076,751.04. This represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Keith A. Meister purchased 500,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $39.29 per share, with a total value of $19,645,000.00. Following the completion of the transaction, the director directly owned 4,433,297 shares in the company, valued at $174,184,239.13. The trade was a 12.71% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 1,374,668 shares of company stock valued at $60,269,369 and sold 104,028 shares valued at $7,377,165. Company insiders own 29.60% of the company’s stock.

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.