Trexquant Investment LP Sells 47,100 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Trexquant Investment LP cut its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 38.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,912 shares of the company's stock after selling 47,100 shares during the quarter. Trexquant Investment LP owned approximately 0.27% of GeneDx worth $5,758,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WGS. William Blair Investment Management LLC bought a new position in shares of GeneDx during the fourth quarter valued at about $51,496,000. Zweig DiMenna Associates LLC bought a new stake in GeneDx in the 4th quarter valued at about $23,788,000. Raymond James Financial Inc. bought a new stake in GeneDx during the 4th quarter valued at $20,371,000. Vanguard Group Inc. lifted its holdings in GeneDx by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company's stock worth $77,337,000 after purchasing an additional 156,768 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in GeneDx in the 4th quarter worth approximately $10,821,000. Institutional investors own 61.72% of the company's stock.

GeneDx Stock Performance

WGS stock traded down $6.53 during midday trading on Thursday, reaching $90.76. 331,575 shares of the company's stock traded hands, compared to its average volume of 665,811. GeneDx Holdings Corp. has a 52-week low of $8.63 and a 52-week high of $115.60. The stock's 50-day moving average is $89.49 and its 200 day moving average is $77.32. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.55 billion, a P/E ratio of -46.16 and a beta of 1.93.

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GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.66. The business had revenue of $95.64 million during the quarter, compared to analyst estimates of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. As a group, analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Katherine Stueland sold 2,731 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $94.73, for a total value of $258,707.63. Following the completion of the transaction, the chief executive officer now directly owns 7,752 shares of the company's stock, valued at approximately $734,346.96. This trade represents a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Feeley sold 8,746 shares of the company's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $95.61, for a total transaction of $836,205.06. Following the sale, the chief financial officer now directly owns 15,996 shares in the company, valued at approximately $1,529,377.56. The trade was a 35.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,670 shares of company stock worth $7,301,418 in the last three months. 27.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group raised their price target on GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. TD Cowen raised their price objective on shares of GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $72.33.

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.