Assenagon Asset Management S.A. Sells 61,642 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Assenagon Asset Management S.A. reduced its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 18.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 267,614 shares of the company's stock after selling 61,642 shares during the period. Assenagon Asset Management S.A. owned about 0.97% of GeneDx worth $20,569,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in GeneDx in the 2nd quarter valued at about $2,362,000. Barclays PLC lifted its position in shares of GeneDx by 346.3% during the 3rd quarter. Barclays PLC now owns 18,921 shares of the company's stock worth $803,000 after buying an additional 14,681 shares in the last quarter. Chartwell Investment Partners LLC purchased a new position in GeneDx in the third quarter worth $1,722,000. Charles Schwab Investment Management Inc. grew its position in GeneDx by 304.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company's stock valued at $6,240,000 after buying an additional 110,666 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of GeneDx during the 3rd quarter worth approximately $325,000. Institutional investors own 61.72% of the company's stock.

Insiders Place Their Bets

In related news, CFO Kevin Feeley sold 1,137 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $76.37, for a total value of $86,832.69. Following the completion of the sale, the chief financial officer now directly owns 24,731 shares of the company's stock, valued at approximately $1,888,706.47. This represents a 4.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the firm's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the sale, the insider now owns 2,866,833 shares in the company, valued at $215,012,475. The trade was a 23.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,229,965 shares of company stock worth $93,006,163. 27.30% of the stock is currently owned by company insiders.

GeneDx Trading Up 1.8 %

Shares of GeneDx stock traded up $1.22 during midday trading on Friday, reaching $69.48. 514,421 shares of the company's stock traded hands, compared to its average volume of 533,237. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. GeneDx Holdings Corp. has a 12 month low of $2.85 and a 12 month high of $98.87. The company has a market cap of $1.91 billion, a PE ratio of -22.34 and a beta of 2.02. The stock has a 50 day moving average of $77.77 and a 200-day moving average of $54.81.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.25. The company had revenue of $76.90 million for the quarter, compared to analysts' expectations of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. GeneDx's quarterly revenue was up 44.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.82) earnings per share. As a group, equities analysts expect that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on WGS shares. Craig Hallum lifted their price objective on shares of GeneDx from $70.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. TD Cowen lifted their target price on shares of GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. The Goldman Sachs Group lifted their price target on GeneDx from $54.00 to $70.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price objective on GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, GeneDx currently has an average rating of "Moderate Buy" and an average price target of $70.67.

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.