Westfield Capital Management Co. LP Increases Stock Position in GeneDx Holdings Corp. $WGS

Westfield Capital Management Co. LP grew its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 87.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,018,261 shares of the company’s stock after acquiring an additional 474,167 shares during the quarter. Westfield Capital Management Co. LP owned about 3.52% of GeneDx worth $132,435,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Arizona State Retirement System boosted its holdings in shares of GeneDx by 2.1% during the 4th quarter. Arizona State Retirement System now owns 5,594 shares of the company’s stock valued at $728,000 after acquiring an additional 113 shares during the last quarter. Main Management ETF Advisors LLC boosted its holdings in shares of GeneDx by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 15,660 shares of the company’s stock valued at $2,037,000 after acquiring an additional 160 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of GeneDx by 5.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,702 shares of the company’s stock valued at $399,000 after acquiring an additional 181 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after acquiring an additional 186 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of GeneDx by 248.8% during the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WGS. Wall Street Zen downgraded shares of GeneDx from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Guggenheim dropped their price target on shares of GeneDx from $100.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $75.00 price target (down from $155.00) on shares of GeneDx in a report on Tuesday, May 5th. Canaccord Genuity Group set a $75.00 price target on shares of GeneDx and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, Zacks Research downgraded shares of GeneDx from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.43.

Insider Activity

In other news, CFO Kevin Feeley sold 392 shares of the firm’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $65.19, for a total transaction of $25,554.48. Following the sale, the chief financial officer directly owned 34,942 shares in the company, valued at $2,277,868.98. This trade represents a 1.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Casdin Capital, Llc acquired 140,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $43.81 per share, for a total transaction of $6,133,400.00. Following the completion of the transaction, the director directly owned 3,507,164 shares in the company, valued at approximately $153,648,854.84. This trade represents a 4.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 2,056,420 shares of company stock worth $82,035,340 and have sold 72,382 shares worth $4,889,473. Insiders own 29.60% of the company’s stock.

GeneDx Stock Performance

WGS opened at $56.27 on Friday. GeneDx Holdings Corp. has a 12-month low of $32.21 and a 12-month high of $170.87. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -21.00 and a beta of 1.96. The company’s 50 day moving average is $55.74 and its 200 day moving average is $93.19. The company has a current ratio of 3.09, a quick ratio of 2.95 and a debt-to-equity ratio of 0.38.

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 analysts’ consensus estimates of ($0.06) by ($0.22). The firm 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 previous year, the company earned ($0.23) earnings per share. On average, equities research analysts predict that GeneDx Holdings Corp. will post -1 EPS for the current year.

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.