Assenagon Asset Management S.A. Sells 37,040 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Assenagon Asset Management S.A. cut its position in GeneDx Holdings Corp. (NASDAQ:WGS) by 10.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 329,256 shares of the company’s stock after selling 37,040 shares during the period. Assenagon Asset Management S.A. owned about 1.26% of GeneDx worth $13,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC bought a new stake in GeneDx in the second quarter worth $2,362,000. Millennium Management LLC grew its position in GeneDx by 193.5% in the second quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock worth $8,140,000 after acquiring an additional 205,318 shares in the last quarter. Algert Global LLC bought a new stake in GeneDx during the second quarter worth approximately $356,000. Calamos Advisors LLC purchased a new stake in GeneDx during the second quarter valued at approximately $1,137,000. Finally, Point72 Asset Management L.P. increased its position in shares of GeneDx by 227.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 156,745 shares of the company’s stock valued at $4,097,000 after purchasing an additional 108,864 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Opko Health, Inc. sold 100,000 shares of GeneDx stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the completion of the transaction, the insider now directly owns 2,871,570 shares of the company’s stock, valued at $91,373,357.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Kevin Feeley sold 895 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $29,830.35. Following the transaction, the chief financial officer now owns 39,910 shares in the company, valued at $1,330,200.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Opko Health, Inc. sold 100,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the completion of the sale, the insider now owns 2,871,570 shares of the company’s stock, valued at $91,373,357.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 408,668 shares of company stock worth $13,544,988. Corporate insiders own 28.10% of the company’s stock.

Analyst Ratings Changes

WGS has been the subject of a number of recent analyst reports. Craig Hallum lifted their price target on shares of GeneDx from $46.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. BTIG Research increased their price objective on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group raised their price objective on GeneDx from $32.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Wells Fargo & Company started coverage on GeneDx in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 target price for the company. Finally, TD Cowen raised their price target on GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.67.

GeneDx Price Performance

Shares of WGS stock opened at $58.82 on Friday. GeneDx Holdings Corp. has a fifty-two week low of $1.16 and a fifty-two week high of $61.96. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.22 and a current ratio of 2.38. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -11.36 and a beta of 2.32. The stock’s 50-day simple moving average is $43.27 and its 200-day simple moving average is $31.08.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.15. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. The business had revenue of $70.51 million for the quarter, compared to analyst estimates of $58.90 million. As a group, equities analysts forecast that GeneDx Holdings Corp. will post -0.75 earnings per share for the current fiscal year.

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.