Assenagon Asset Management S.A. Has $26.78 Million Stake in GeneDx Holdings Corp. $WGS

Assenagon Asset Management S.A. boosted its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 1,358.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,895 shares of the company’s stock after purchasing an additional 191,780 shares during the period. Assenagon Asset Management S.A. owned 0.71% of GeneDx worth $26,779,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. ARK Investment Management LLC acquired a new position in shares of GeneDx in the 3rd quarter valued at $48,157,000. Rhumbline Advisers raised its stake in GeneDx by 42.7% during the 2nd quarter. Rhumbline Advisers now owns 27,610 shares of the company’s stock worth $2,549,000 after buying an additional 8,258 shares during the period. Principal Financial Group Inc. lifted its holdings in GeneDx by 340.4% during the third quarter. Principal Financial Group Inc. now owns 59,624 shares of the company’s stock worth $6,424,000 after acquiring an additional 46,085 shares in the last quarter. Impax Asset Management Group plc bought a new position in GeneDx during the third quarter worth about $5,387,000. Finally, Telemark Asset Management LLC acquired a new position in GeneDx in the third quarter valued at about $12,929,000. Institutional investors own 61.72% of the company’s stock.

Insider Buying and Selling at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 6,187 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $78.61, for a total transaction of $486,360.07. Following the sale, the chief financial officer directly owned 18,674 shares of the company’s stock, valued at $1,467,963.14. The trade was a 24.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Keith A. Meister acquired 140,026 shares of GeneDx stock in a transaction dated Thursday, March 5th. The shares were acquired at an average price of $81.19 per share, with a total value of $11,368,710.94. Following the completion of the purchase, the director owned 3,228,150 shares in the company, valued at approximately $262,093,498.50. The trade was a 4.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 65,875 shares of company stock worth $5,280,990 in the last three months. 29.60% of the stock is currently owned by company insiders.

GeneDx Stock Performance

WGS opened at $66.95 on Thursday. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -89.27 and a beta of 2.03. The business’s 50-day moving average price is $87.52 and its two-hundred day moving average price is $117.58. GeneDx Holdings Corp. has a 1 year low of $55.17 and a 1 year high of $170.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.46 and a quick ratio of 2.34.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. GeneDx had a positive return on equity of 14.73% and a negative net margin of 4.92%.The business had revenue of $120.99 million during the quarter, compared to the consensus estimate of $120.80 million. Equities analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wall Street Zen lowered GeneDx from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, January 21st. Zacks Research raised GeneDx from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. Piper Sandler restated an “overweight” rating and set a $130.00 target price (down from $160.00) on shares of GeneDx in a report on Tuesday, February 24th. Finally, Canaccord Genuity Group lifted their price target 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 assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, GeneDx currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.71.

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.