Point72 Asset Management L.P. Has $12.46 Million Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Point72 Asset Management L.P. boosted its stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 87.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 293,671 shares of the company's stock after buying an additional 136,926 shares during the period. Point72 Asset Management L.P. owned 1.07% of GeneDx worth $12,463,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in WGS. Vanguard Group Inc. boosted its stake in GeneDx by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company's stock valued at $6,460,000 after purchasing an additional 28,678 shares during the period. Assenagon Asset Management S.A. acquired a new stake in GeneDx in the 2nd quarter valued at approximately $9,575,000. Calamos Advisors LLC bought a new stake in GeneDx during the 2nd quarter valued at $1,137,000. Bank of New York Mellon Corp bought a new stake in GeneDx during the 2nd quarter valued at $991,000. Finally, nVerses Capital LLC acquired a new position in GeneDx during the 2nd quarter worth $50,000. 61.72% of the stock is owned by institutional investors and hedge funds.

GeneDx Price Performance

WGS stock traded down $1.65 on Friday, hitting $77.20. 785,309 shares of the company's stock traded hands, compared to its average volume of 548,068. 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 $2.12 billion, a price-to-earnings ratio of -24.82 and a beta of 2.03. GeneDx Holdings Corp. has a 1-year low of $1.45 and a 1-year high of $89.11. The stock has a fifty day moving average of $67.45 and a 200-day moving average of $43.52.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $0.25. The company had revenue of $76.90 million during the quarter, compared to the consensus estimate of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The company's quarterly revenue was up 44.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.82) EPS. On average, analysts forecast that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WGS shares. The Goldman Sachs Group lifted their price objective on shares of GeneDx from $54.00 to $70.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their price target 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. Finally, Craig Hallum increased their price objective on shares of GeneDx from $70.00 to $95.00 and gave the company a "buy" 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 company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $59.33.

Insider Buying and Selling

In related news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the company's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the transaction, the insider now directly owns 2,866,833 shares of the company's stock, valued at approximately $215,012,475. The trade was a 23.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 3,639 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $121,287.87. Following the sale, the chief executive officer now owns 95,457 shares of the company's stock, valued at $3,181,581.81. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,109,110 shares of company stock valued at $81,993,001. 27.30% of the stock is owned by corporate insiders.

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.