Assenagon Asset Management S.A. Has $20.57 Million Stake in GeneDx Holdings Corp. (NASDAQ:WGS)

Assenagon Asset Management S.A. lowered its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 18.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,614 shares of the company’s stock after selling 61,642 shares during the quarter. Assenagon Asset Management S.A.’s holdings in GeneDx were worth $20,569,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new stake in shares of GeneDx during the 2nd quarter valued at $34,000. CWM LLC acquired a new position in GeneDx in the third quarter valued at about $89,000. SG Americas Securities LLC bought a new stake in GeneDx during the third quarter worth about $198,000. Point72 DIFC Ltd acquired a new stake in GeneDx during the third quarter worth about $220,000. Finally, Palumbo Wealth Management LLC bought a new position in GeneDx in the 3rd quarter valued at about $287,000. Institutional investors own 61.72% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of GeneDx stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $69.78, for a total value of $1,420,651.02. Following the transaction, the insider now directly owns 2,846,474 shares of the company’s stock, valued at $198,626,955.72. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Katherine Stueland sold 51,420 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the sale, the chief executive officer now directly owns 1,720 shares of the company’s stock, valued at $162,505.60. This represents a 96.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,229,965 shares of company stock valued at $93,006,163 in the last ninety days. 27.30% of the stock is currently owned by insiders.

GeneDx Stock Up 1.8 %

Shares of WGS opened at $69.48 on Friday. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -22.34 and a beta of 2.02. GeneDx Holdings Corp. has a 52 week low of $2.85 and a 52 week high of $98.87. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The stock has a fifty day moving average of $77.77 and a 200-day moving average of $54.81.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The firm had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. During the same period last year, the firm posted ($0.82) earnings per share. The business’s revenue for the quarter was up 44.3% on a year-over-year basis. As a group, sell-side analysts anticipate that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WGS has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. TD Cowen raised their target price on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Craig Hallum boosted their price target on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their target price on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, GeneDx presently has a consensus rating of “Moderate Buy” and an average price target of $70.67.

GeneDx Profile

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.