Future Fund LLC Makes New Investment in GeneDx Holdings Corp. $WGS

Future Fund LLC bought a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,053 shares of the company’s stock, valued at approximately $1,568,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in GeneDx by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 504,567 shares of the company’s stock worth $65,635,000 after acquiring an additional 15,170 shares during the last quarter. Williamson Legacy Group LLC acquired a new position in GeneDx during the fourth quarter worth about $1,241,000. Legato Capital Management LLC raised its position in GeneDx by 4.5% during the fourth quarter. Legato Capital Management LLC now owns 10,240 shares of the company’s stock worth $1,332,000 after acquiring an additional 440 shares during the last quarter. PNC Financial Services Group Inc. raised its position in GeneDx by 33.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,092 shares of the company’s stock worth $532,000 after acquiring an additional 1,025 shares during the last quarter. Finally, Csenge Advisory Group acquired a new position in GeneDx during the fourth quarter worth about $534,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WGS. Weiss Ratings upgraded shares of GeneDx from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th. Jefferies Financial Group set a $150.00 price objective on shares of GeneDx in a research report on Monday, February 23rd. Craig Hallum reissued a “buy” rating and issued a $85.00 price objective on shares of GeneDx in a research report on Tuesday, May 5th. BTIG Research cut their price objective on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Finally, Wall Street Zen lowered shares of GeneDx from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.43.

Insider Activity

In other news, CEO Katherine Stueland sold 46,933 shares of the company’s stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $63.17, for a total value of $2,964,757.61. Following the completion of the transaction, the chief executive officer directly owned 91,514 shares in the company, valued at approximately $5,780,939.38. This represents a 33.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Casdin Capital, Llc acquired 185,000 shares of GeneDx stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of $42.60 per share, for a total transaction of $7,881,000.00. Following the completion of the purchase, the director directly owned 3,367,164 shares in the company, valued at $143,441,186.40. The trade was a 5.81% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 2,225,941 shares of company stock worth $95,494,951 and sold 104,028 shares worth $7,377,165. Insiders own 29.60% of the company’s stock.

GeneDx Stock Performance

Shares of WGS stock opened at $51.99 on Friday. GeneDx Holdings Corp. has a one year low of $32.21 and a one year high of $170.87. 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 50 day moving average price of $57.12 and a 200 day moving average price of $95.78. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -19.40 and a beta of 2.06.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.22). GeneDx had a positive return on equity of 9.15% and a negative net margin of 17.58%.The company had revenue of $102.25 million for the quarter, compared to analyst estimates of $112.46 million. During the same period last year, the company posted ($0.23) EPS. Sell-side analysts anticipate that GeneDx Holdings Corp. will post -1 EPS for the current year.

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.