Divisadero Street Capital Management LP Takes $5.89 Million Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Divisadero Street Capital Management LP acquired a new position in GeneDx Holdings Corp. (NASDAQ:WGS) during the second quarter, Holdings Channel reports. The firm acquired 225,170 shares of the company’s stock, valued at approximately $5,886,000. GeneDx makes up approximately 0.9% of Divisadero Street Capital Management LP’s portfolio, making the stock its 28th biggest holding.

Several other large investors also recently added to or reduced their stakes in WGS. Renaissance Technologies LLC bought a new position in shares of GeneDx in the 2nd quarter worth $2,362,000. American Century Companies Inc. increased its stake in GeneDx by 36.1% in the second quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock valued at $451,000 after acquiring an additional 4,573 shares during the last quarter. Acadian Asset Management LLC bought a new position in GeneDx in the second quarter valued at $34,000. Rhumbline Advisers raised its position in GeneDx by 8,096.4% during the second quarter. Rhumbline Advisers now owns 18,360 shares of the company’s stock valued at $480,000 after purchasing an additional 18,136 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in GeneDx during the second quarter worth about $50,000. Institutional investors own 61.72% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Kevin Feeley sold 895 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $29,830.35. Following the completion of the transaction, the chief financial officer now owns 39,910 shares of the company’s stock, valued at approximately $1,330,200.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Opko Health, Inc. sold 50,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $26.63, for a total transaction of $1,331,500.00. Following the sale, the insider now owns 3,508,603 shares of the company’s stock, valued at $93,434,097.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $29,830.35. Following the transaction, the chief financial officer now directly owns 39,910 shares of the company’s stock, valued at approximately $1,330,200.30. The disclosure for this sale can be found here. Insiders sold 743,868 shares of company stock worth $24,114,996 over the last three months. Company insiders own 28.10% of the company’s stock.

Analyst Ratings Changes

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

GeneDx Trading Up 4.8 %

Shares of WGS opened at $40.65 on Friday. The stock has a market capitalization of $1.06 billion, a P/E ratio of -7.85 and a beta of 2.29. The firm has a fifty day simple moving average of $33.36 and a two-hundred day simple moving average of $23.25. The company has a quick ratio of 2.22, a current ratio of 2.38 and a debt-to-equity ratio of 0.27. GeneDx Holdings Corp. has a twelve month low of $1.16 and a twelve month high of $40.92.

GeneDx (NASDAQ:WGS) last posted its earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. The company had revenue of $70.51 million during the quarter, compared to analyst estimates of $58.90 million. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. On average, research analysts anticipate that GeneDx Holdings Corp. will post -0.75 EPS for the current year.

GeneDx Company 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.