GeneDx (NASDAQ:WGS) Director Casdin Capital, Llc Acquires 175,000 Shares of Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Casdin Capital, Llc acquired 175,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were bought at an average cost of $42.55 per share, for a total transaction of $7,446,250.00. Following the acquisition, the director directly owned 3,182,164 shares in the company, valued at $135,401,078.20. This represents a 5.82% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, May 20th, Casdin Capital, Llc acquired 140,000 shares of GeneDx stock. The shares were bought at an average cost of $43.81 per share, for a total transaction of $6,133,400.00.
• On Tuesday, May 19th, Casdin Capital, Llc acquired 185,000 shares of GeneDx stock. The shares were bought at an average cost of $42.60 per share, for a total transaction of $7,881,000.00.

GeneDx Price Performance

Shares of GeneDx stock opened at $44.73 on Thursday. The company has a current ratio of 3.09, a quick ratio of 2.95 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.33 billion, a PE ratio of -16.69 and a beta of 2.06. The business’s 50-day moving average price is $61.30 and its 200-day moving average price is $99.89. GeneDx Holdings Corp. has a 12 month low of $32.21 and a 12 month high of $170.87.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). The business had revenue of $102.25 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted ($0.23) earnings per share. Sell-side analysts forecast that GeneDx Holdings Corp. will post -1 EPS for the current fiscal year.

Analyst Ratings Changes

WGS has been the subject of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and set a $130.00 price objective (down from $160.00) on shares of GeneDx in a research note on Tuesday, February 24th. Wells Fargo & Company restated 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. Wall Street Zen cut GeneDx from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded GeneDx from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 15th. Finally, Guggenheim decreased their price target on GeneDx from $100.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.43.

Institutional Trading of GeneDx

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC purchased a new stake in GeneDx in the fourth quarter worth about $27,000. Jones Financial Companies Lllp increased its position in GeneDx by 664.3% in the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after buying an additional 186 shares in the last quarter. Ramirez Asset Management Inc. purchased a new stake in GeneDx in the fourth quarter worth about $33,000. Greenline Wealth Management LLC purchased a new stake in GeneDx in the fourth quarter worth about $33,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in GeneDx in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

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.