Squarepoint Ops LLC Raises Stake in GeneDx Holdings Corp. (NASDAQ:WGS)

Squarepoint Ops LLC lifted its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 124.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,949 shares of the company’s stock after purchasing an additional 33,293 shares during the quarter. Squarepoint Ops LLC owned about 0.23% of GeneDx worth $1,567,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in GeneDx in the second quarter valued at about $34,000. nVerses Capital LLC acquired a new stake in shares of GeneDx in the 2nd quarter worth approximately $50,000. Thompson Davis & CO. Inc. increased its stake in GeneDx by 20.8% in the 1st quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock valued at $220,000 after purchasing an additional 4,150 shares in the last quarter. American Century Companies Inc. raised its holdings in GeneDx by 36.1% during the second quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock worth $451,000 after purchasing an additional 4,573 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in GeneDx by 8,096.4% during the second quarter. Rhumbline Advisers now owns 18,360 shares of the company’s stock worth $480,000 after purchasing an additional 18,136 shares in the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

GeneDx Stock Up 5.7 %

WGS stock opened at $49.82 on Friday. The company has a 50 day moving average price of $35.26 and a two-hundred day moving average price of $25.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.22 and a current ratio of 2.38. The stock has a market capitalization of $1.30 billion, a P/E ratio of -9.62 and a beta of 2.32. GeneDx Holdings Corp. has a one year low of $1.16 and a one year high of $50.16.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.15. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. The firm had revenue of $70.51 million during the quarter, compared to analyst estimates of $58.90 million. As a group, sell-side analysts expect that GeneDx Holdings Corp. will post -0.75 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on WGS. TD Cowen lifted their price target on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company initiated coverage on shares of GeneDx in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 price target on the stock. The Goldman Sachs Group raised their price objective on shares of GeneDx from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. BTIG Research increased their target price on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Craig Hallum boosted their price target on GeneDx from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Insider Buying and Selling

In related news, CEO Katherine Stueland sold 3,639 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.33, for a total transaction of $121,287.87. Following the completion of the transaction, the chief executive officer now owns 95,457 shares of the company’s stock, valued at approximately $3,181,581.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Kevin Feeley sold 895 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $29,830.35. Following the transaction, the chief financial officer now owns 39,910 shares in the company, valued at approximately $1,330,200.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 3,639 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $121,287.87. Following the sale, the chief executive officer now owns 95,457 shares of the company’s stock, valued at approximately $3,181,581.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 643,668 shares of company stock valued at $21,365,988. Insiders own 28.10% of the company’s stock.

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.