GeneDx (NASDAQ:WGS) Director Casdin Capital, Llc Acquires 140,000 Shares

GeneDx Holdings Corp. (NASDAQ:WGS) Director Casdin Capital, Llc bought 140,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $43.81 per share, for a total transaction of $6,133,400.00. Following the transaction, the director owned 3,507,164 shares of the company’s stock, valued at approximately $153,648,854.84. This trade represents a 4.16% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Casdin Capital, Llc also recently made the following trade(s):

• On Tuesday, May 19th, Casdin Capital, Llc purchased 185,000 shares of GeneDx stock. The stock was acquired at an average cost of $42.60 per share, for a total transaction of $7,881,000.00.
• On Monday, May 18th, Casdin Capital, Llc purchased 175,000 shares of GeneDx stock. The stock was acquired at an average cost of $42.55 per share, for a total transaction of $7,446,250.00.

GeneDx Price Performance

Shares of NASDAQ:WGS traded up $2.60 during midday trading on Wednesday, hitting $44.73. The company’s stock had a trading volume of 1,140,005 shares, compared to its average volume of 1,984,668. The business’s 50 day simple moving average is $61.30 and its 200 day simple moving average is $99.89. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.95 and a current ratio of 3.09. The company has a market cap of $1.33 billion, a P/E ratio of -16.69 and a beta of 2.06. GeneDx Holdings Corp. has a 12-month low of $32.21 and a 12-month high of $170.87.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Monday, May 4th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.22). The business had revenue of $102.25 million during the quarter, compared to analysts’ expectations of $112.46 million. GeneDx had a positive return on equity of 9.15% and a negative net margin of 17.58%.During the same period in the prior year, the business posted ($0.23) earnings per share. On average, analysts forecast that GeneDx Holdings Corp. will post -1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WGS. Weiss Ratings raised shares of GeneDx from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 15th. Wells Fargo & Company reissued an “overweight” rating and issued a $75.00 price target (down from $155.00) on shares of GeneDx in a research note on Tuesday, May 5th. BTIG Research reduced their target price on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Canaccord Genuity Group set a $75.00 target price on shares of GeneDx and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Zacks Research downgraded shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $96.43.

Institutional Investors Weigh In On GeneDx

Institutional investors and hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC purchased a new stake in shares of GeneDx in the 3rd quarter valued at approximately $48,157,000. Principal Financial Group Inc. raised its stake in shares of GeneDx by 340.4% in the 3rd quarter. Principal Financial Group Inc. now owns 59,624 shares of the company’s stock valued at $6,424,000 after acquiring an additional 46,085 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of GeneDx by 30.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 381,725 shares of the company’s stock valued at $49,647,000 after acquiring an additional 89,470 shares during the period. Telemark Asset Management LLC purchased a new stake in shares of GeneDx in the 3rd quarter valued at approximately $12,929,000. Finally, Impax Asset Management Group plc purchased a new stake in shares of GeneDx in the 3rd quarter valued at approximately $5,387,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

About GeneDx

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.