Assenagon Asset Management S.A. Has $1.52 Million Stock Position in GeneDx Holdings Corp. $WGS

Assenagon Asset Management S.A. lowered its stake in GeneDx Holdings Corp. (NASDAQ:WGS) by 70.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,115 shares of the company’s stock after selling 33,523 shares during the quarter. Assenagon Asset Management S.A.’s holdings in GeneDx were worth $1,521,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. William Blair Investment Management LLC increased its position in shares of GeneDx by 37.2% in the second quarter. William Blair Investment Management LLC now owns 1,631,402 shares of the company’s stock worth $150,595,000 after acquiring an additional 442,414 shares in the last quarter. Alliancebernstein L.P. grew its position in GeneDx by 3,054.5% during the 1st quarter. Alliancebernstein L.P. now owns 436,900 shares of the company’s stock worth $38,694,000 after purchasing an additional 423,050 shares in the last quarter. Jennison Associates LLC raised its stake in GeneDx by 6,163.1% during the 2nd quarter. Jennison Associates LLC now owns 397,896 shares of the company’s stock valued at $36,730,000 after purchasing an additional 391,543 shares during the period. Westfield Capital Management Co. LP lifted its holdings in shares of GeneDx by 164.8% in the second quarter. Westfield Capital Management Co. LP now owns 589,188 shares of the company’s stock valued at $54,388,000 after purchasing an additional 366,711 shares in the last quarter. Finally, Alamea Verwaltungs GmbH purchased a new stake in shares of GeneDx in the first quarter valued at $18,693,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

GeneDx Stock Up 1.2%

Shares of GeneDx stock opened at $136.96 on Thursday. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 1,521.72 and a beta of 1.99. The stock has a 50-day simple moving average of $142.17 and a 200-day simple moving average of $117.66. GeneDx Holdings Corp. has a 52-week low of $55.17 and a 52-week high of $170.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.71 and a quick ratio of 2.59.

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

Insider Transactions at GeneDx

In other news, CFO Kevin Feeley sold 3,855 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $143.87, for a total transaction of $554,618.85. Following the transaction, the chief financial officer owned 8,731 shares in the company, valued at approximately $1,256,128.97. This trade represents a 30.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joshua Ruch sold 38,000 shares of GeneDx stock in a transaction 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 of the company’s stock, valued at approximately $1,914,978.17. The trade was a 76.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 60,163 shares of company stock worth $9,339,792 in the last 90 days. 29.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on WGS shares. BTIG Research lifted their price target on GeneDx from $165.00 to $200.00 and gave the company a “buy” rating in a report on Friday, December 12th. Guggenheim reaffirmed a “buy” rating and set a $170.00 target price (up previously from $115.00) on shares of GeneDx in a research note on Wednesday, October 29th. Wells Fargo & Company set a $155.00 target price on GeneDx and gave the company an “equal weight” rating in a report on Monday, December 15th. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, October 8th. Finally, Piper Sandler raised their price target on shares of GeneDx from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.89.

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.