Assenagon Asset Management S.A. Has $13.97 Million Stock Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Assenagon Asset Management S.A. trimmed its position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 10.1% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 329,256 shares of the company's stock after selling 37,040 shares during the period. Assenagon Asset Management S.A. owned about 1.26% of GeneDx worth $13,974,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Oracle Investment Management Inc. boosted its position in GeneDx by 531.7% in the 1st quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company's stock valued at $10,286,000 after buying an additional 948,253 shares during the last quarter. Vanguard Group Inc. boosted its position in GeneDx by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company's stock valued at $6,460,000 after buying an additional 28,678 shares during the last quarter. Gagnon Securities LLC boosted its position in GeneDx by 59.3% in the 1st quarter. Gagnon Securities LLC now owns 556,305 shares of the company's stock valued at $5,079,000 after buying an additional 207,027 shares during the last quarter. Driehaus Capital Management LLC bought a new position in GeneDx in the 2nd quarter valued at $11,335,000. Finally, Millennium Management LLC boosted its position in GeneDx by 193.5% in the 2nd quarter. Millennium Management LLC now owns 311,401 shares of the company's stock valued at $8,140,000 after buying an additional 205,318 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

GeneDx Trading Down 0.5 %

WGS stock traded down $0.27 during midday trading on Friday, hitting $58.82. 377,482 shares of the company's stock were exchanged, compared to its average volume of 416,783. The stock's fifty day moving average price is $43.27 and its 200-day moving average price is $31.22. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.22 and a current ratio of 2.38. The company has a market cap of $1.54 billion, a PE ratio of -11.36 and a beta of 2.32. GeneDx Holdings Corp. has a one year low of $1.16 and a one year high of $61.96.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.15. The firm had revenue of $70.51 million for the quarter, compared to analyst estimates of $58.90 million. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. Research analysts predict that GeneDx Holdings Corp. will post -0.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WGS shares. BTIG Research increased their price objective on GeneDx from $35.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. TD Cowen raised their price target on GeneDx from $46.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. The Goldman Sachs Group raised their price target on GeneDx from $32.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. Craig Hallum raised their price target on GeneDx from $46.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Wells Fargo & Company initiated coverage on GeneDx in a research report on Tuesday, August 27th. They issued an "equal weight" rating and a $34.00 price target on the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $45.67.

Insiders Place Their Bets

In other GeneDx news, major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $34.49, for a total value of $1,724,500.00. Following the sale, the insider now owns 2,646,972 shares of the company's stock, valued at $91,294,064.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other GeneDx news, major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $34.49, for a total value of $1,724,500.00. Following the sale, the insider now owns 2,646,972 shares of the company's stock, valued at $91,294,064.28. This trade represents a 0.00 % 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 2,154 shares of GeneDx stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $33.54, for a total value of $72,245.16. Following the completion of the sale, the chief executive officer now directly owns 92,550 shares in the company, valued at $3,104,127. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 408,668 shares of company stock worth $13,544,988. Corporate insiders own 28.10% of the company's stock.

GeneDx 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.