Gagnon Securities LLC Sells 182,567 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Gagnon Securities LLC lowered its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 33.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 359,376 shares of the company's stock after selling 182,567 shares during the quarter. GeneDx comprises approximately 5.6% of Gagnon Securities LLC's holdings, making the stock its 5th largest holding. Gagnon Securities LLC owned approximately 1.31% of GeneDx worth $27,622,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. MCF Advisors LLC lifted its stake in GeneDx by 107.7% during the fourth quarter. MCF Advisors LLC now owns 351 shares of the company's stock valued at $27,000 after purchasing an additional 182 shares during the last quarter. CWM LLC acquired a new stake in shares of GeneDx in the third quarter valued at $89,000. SG Americas Securities LLC acquired a new position in GeneDx in the third quarter valued at approximately $198,000. Evolution Wealth Advisors LLC bought a new stake in GeneDx in the fourth quarter valued at approximately $202,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of GeneDx in the third quarter valued at approximately $220,000. Hedge funds and other institutional investors own 61.72% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $70.78, for a total value of $8,973,629.96. Following the completion of the transaction, the insider now owns 2,719,692 shares of the company's stock, valued at approximately $192,499,799.76. The trade was a 4.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jason Ryan sold 31,510 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $71.28, for a total transaction of $2,246,032.80. Following the transaction, the director now directly owns 15,490 shares of the company's stock, valued at approximately $1,104,127.20. This represents a 67.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 363,669 shares of company stock valued at $28,061,081. 27.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

GeneDx Trading Down 5.3 %

Shares of WGS stock traded down $3.80 during trading hours on Wednesday, hitting $68.23. The company had a trading volume of 3,801,636 shares, compared to its average volume of 995,569. GeneDx Holdings Corp. has a fifty-two week low of $3.66 and a fifty-two week high of $98.87. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The company's fifty day moving average is $77.91 and its 200 day moving average is $58.87. The stock has a market capitalization of $1.87 billion, a PE ratio of -21.94 and a beta of 2.01.

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.