Gagnon Advisors LLC Has $14.42 Million Stock Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Gagnon Advisors LLC decreased its stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 26.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 187,618 shares of the company's stock after selling 67,441 shares during the quarter. GeneDx makes up about 9.2% of Gagnon Advisors LLC's holdings, making the stock its biggest position. Gagnon Advisors LLC owned approximately 0.68% of GeneDx worth $14,420,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. MCF Advisors LLC grew its position in shares of GeneDx by 107.7% in 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 bought a new position in shares of GeneDx during the 3rd quarter worth about $89,000. SG Americas Securities LLC bought a new stake in shares of GeneDx in the 3rd quarter valued at approximately $198,000. Evolution Wealth Advisors LLC acquired a new stake in GeneDx in the 4th quarter valued at $202,000. Finally, Point72 DIFC Ltd bought a new stake in shares of GeneDx in the 3rd quarter worth about $220,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Kevin Feeley sold 12,019 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $73.76, for a total value of $886,521.44. Following the sale, the chief financial officer now directly owns 32,932 shares of the company's stock, valued at approximately $2,429,064.32. This represents a 26.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Katherine Stueland sold 1,657 shares of the company's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $78.48, for a total transaction of $130,041.36. Following the sale, the chief executive officer now directly owns 3,937 shares in the company, valued at $308,975.76. This trade represents a 29.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 363,669 shares of company stock worth $28,061,081 over the last three months. Insiders own 27.30% of the company's stock.

GeneDx Stock Performance

NASDAQ WGS traded down $3.71 during trading on Wednesday, reaching $68.31. The company's stock had a trading volume of 3,801,636 shares, compared to its average volume of 995,569. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. GeneDx Holdings Corp. has a 12 month low of $3.66 and a 12 month high of $98.87. The firm has a 50 day moving average price of $77.91 and a 200 day moving average price of $58.87. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -21.94 and a beta of 2.01.

Wall Street Analysts Forecast Growth

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