Peregrine Capital Management LLC Has $8 Million Stock Holdings in GeneDx Holdings Corp. $WGS

Peregrine Capital Management LLC reduced its stake in GeneDx Holdings Corp. (NASDAQ:WGS) by 13.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,247 shares of the company’s stock after selling 11,516 shares during the quarter. Peregrine Capital Management LLC owned about 0.26% of GeneDx worth $7,999,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in GeneDx by 30.2% during the 1st quarter. Royal Bank of Canada now owns 29,479 shares of the company’s stock worth $2,611,000 after purchasing an additional 6,840 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of GeneDx during the first quarter worth $488,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in GeneDx by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock worth $677,000 after buying an additional 453 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in GeneDx by 270,700.0% in the first quarter. NewEdge Advisors LLC now owns 2,708 shares of the company’s stock valued at $240,000 after buying an additional 2,707 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in GeneDx by 67.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,224 shares of the company’s stock valued at $2,500,000 after acquiring an additional 11,375 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GeneDx

In other news, Director Joshua Ruch sold 38,000 shares of GeneDx stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $160.37, for a total transaction of $6,094,060.00. Following the completion of the transaction, the director directly owned 11,941 shares in the company, valued at $1,914,978.17. This trade represents a 76.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Feeley sold 3,855 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $143.87, for a total transaction of $554,618.85. Following the completion of the sale, the chief financial officer owned 8,731 shares in the company, valued at $1,256,128.97. This represents a 30.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 60,163 shares of company stock valued at $9,339,792. Corporate insiders own 29.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Zacks Research downgraded GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Guggenheim reiterated a “buy” rating and issued a $170.00 target price (up from $115.00) on shares of GeneDx in a report on Wednesday, October 29th. Wells Fargo & Company set a $155.00 price target on GeneDx and gave the company an “equal weight” rating in a research note on Monday, December 15th. BTIG Research raised their price objective on shares of GeneDx from $165.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.13.

GeneDx Stock Down 1.5%

Shares of NASDAQ:WGS opened at $135.38 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.59 and a current ratio of 2.71. GeneDx Holdings Corp. has a 52-week low of $55.17 and a 52-week high of $170.87. The business’s 50 day simple moving average is $143.48 and its two-hundred day simple moving average is $122.73. The firm has a market cap of $3.91 billion, a P/E ratio of 1,504.22 and a beta of 2.01.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.21. GeneDx had a return on equity of 20.22% and a net margin of 0.52%.The company had revenue of $116.74 million for the quarter, compared to analyst estimates of $104.33 million. As a group, research analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

GeneDx Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.