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

GeneDx Holdings Corp. (NASDAQ:WGS) Director Casdin Capital, Llc acquired 140,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average price of $43.81 per share, with a total value of $6,133,400.00. Following the acquisition, the director directly owned 3,507,164 shares of the company’s stock, valued at approximately $153,648,854.84. This represents a 4.16% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

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

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

GeneDx Stock Up 6.2%

Shares of WGS stock traded up $2.60 during trading on Wednesday, reaching $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 company has a debt-to-equity ratio of 0.38, a current ratio of 3.09 and a quick ratio of 2.95. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -16.69 and a beta of 2.06. The stock’s 50-day moving average price is $61.30 and its 200 day moving average price is $99.89. GeneDx Holdings Corp. has a 1-year low of $32.21 and a 1-year high of $170.87.

GeneDx (NASDAQ:WGS) last announced 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 analyst estimates of $112.46 million. GeneDx had a negative net margin of 17.58% and a positive return on equity of 9.15%. During the same quarter last year, the firm posted ($0.23) EPS. On average, research analysts anticipate that GeneDx Holdings Corp. will post -1 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new stake in shares of GeneDx during the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp boosted its holdings in shares of GeneDx by 664.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after buying an additional 186 shares in the last quarter. Ramirez Asset Management Inc. acquired a new position in shares of GeneDx in the 4th quarter valued at $33,000. Greenline Wealth Management LLC acquired a new position in shares of GeneDx in the 4th quarter valued at $33,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of GeneDx in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. BTIG Research dropped their price objective on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Piper Sandler restated an “overweight” rating and issued a $130.00 price objective (down from $160.00) on shares of GeneDx in a report on Tuesday, February 24th. Zacks Research cut shares of GeneDx from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Craig Hallum reiterated a “buy” rating and set a $85.00 price target on shares of GeneDx in a report on Tuesday, May 5th. Finally, Jefferies Financial Group set a $150.00 price target on shares of GeneDx in a report on Monday, February 23rd. Six 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.com, GeneDx presently has an average rating of “Moderate Buy” and a consensus target price of $96.43.

GeneDx Company 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.