Amova Asset Management Americas Inc. Invests $31.44 Million in GeneDx Holdings Corp. $WGS

Amova Asset Management Americas Inc. acquired a new stake in GeneDx Holdings Corp. (NASDAQ:WGS) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 292,255 shares of the company’s stock, valued at approximately $31,444,000. Amova Asset Management Americas Inc. owned approximately 1.01% of GeneDx at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of WGS. Jones Financial Companies Lllp increased its position in shares of GeneDx by 664.3% in the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after buying an additional 186 shares in the last quarter. Chung Wu Investment Group LLC grew its stake in GeneDx by 9.1% in the 3rd quarter. Chung Wu Investment Group LLC now owns 3,600 shares of the company’s stock valued at $388,000 after acquiring an additional 300 shares during the last quarter. Kovack Advisors Inc. increased its holdings in GeneDx by 14.3% during the 3rd quarter. Kovack Advisors Inc. now owns 2,868 shares of the company’s stock valued at $309,000 after acquiring an additional 358 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in GeneDx by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock worth $677,000 after acquiring an additional 453 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of GeneDx by 70.8% in the third quarter. AlphaQuest LLC now owns 1,303 shares of the company’s stock valued at $140,000 after purchasing an additional 540 shares in the last quarter. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WGS. Weiss Ratings restated a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, January 21st. Wall Street Zen downgraded GeneDx from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Jefferies Financial Group set a $150.00 price objective on GeneDx in a research report on Monday, February 23rd. Zacks Research raised GeneDx from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. Finally, Canaccord Genuity Group boosted their target price on shares of GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $150.71.

GeneDx Stock Up 3.2%

Shares of NASDAQ WGS opened at $79.47 on Thursday. The stock has a market capitalization of $2.33 billion, a PE ratio of -105.96 and a beta of 2.03. The company has a quick ratio of 2.34, a current ratio of 2.46 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average of $102.81 and a 200-day moving average of $122.71. GeneDx Holdings Corp. has a 52-week low of $55.17 and a 52-week high of $170.87.

GeneDx (NASDAQ:WGS) last issued its earnings results on Monday, February 23rd. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The firm had revenue of $120.99 million for the quarter, compared to analysts’ expectations of $120.80 million. GeneDx had a positive return on equity of 14.73% and a negative net margin of 4.92%. On average, analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Transactions at GeneDx

In other news, CEO Katherine Stueland sold 1,653 shares of the stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $94.00, for a total value of $155,382.00. Following the completion of the sale, the chief executive officer owned 16,458 shares of the company’s stock, valued at $1,547,052. This represents a 9.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Bryan Dechairo sold 5,961 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $85.70, for a total transaction of $510,857.70. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 30,961 shares of company stock worth $3,933,831. 29.60% of the stock is currently owned by company insiders.

GeneDx Company Profile

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.