GeneDx (NASDAQ:WGS) Director Buys $8,466,000.00 in Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Casdin Capital, Llc purchased 150,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was bought at an average cost of $56.44 per share, for a total transaction of $8,466,000.00. Following the completion of the purchase, the director directly owned 3,657,164 shares in the company, valued at approximately $206,410,336.16. This trade represents a 4.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Friday, June 5th, Casdin Capital, Llc purchased 50,000 shares of GeneDx stock. The stock was bought at an average cost of $52.86 per share, for a total transaction of $2,643,000.00.
• On Wednesday, May 20th, Casdin Capital, Llc purchased 140,000 shares of GeneDx stock. The stock was 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 purchased 185,000 shares of GeneDx stock. The stock was bought at an average cost of $42.60 per share, for a total transaction of $7,881,000.00.
• On Monday, May 18th, Casdin Capital, Llc purchased 175,000 shares of GeneDx stock. The stock was bought at an average cost of $42.55 per share, for a total transaction of $7,446,250.00.

GeneDx Price Performance

Shares of GeneDx stock opened at $54.32 on Thursday. 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 business’s 50 day simple moving average is $55.13 and its two-hundred day simple moving average is $91.01. The stock has a market capitalization of $1.61 billion, a P/E ratio of -20.27 and a beta of 1.96. GeneDx Holdings Corp. has a one year low of $32.21 and a one year high of $170.87.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). The company had revenue of $102.25 million during the quarter, compared to analysts’ expectations 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 period last year, the firm earned ($0.23) earnings per share. Analysts forecast that GeneDx Holdings Corp. will post -1 EPS for the current year.

Institutional Trading of GeneDx

Several institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in GeneDx by 4.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,220,502 shares of the company’s stock valued at $158,738,000 after purchasing an additional 52,322 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of GeneDx by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 1,189,069 shares of the company’s stock worth $154,650,000 after purchasing an additional 18,647 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of GeneDx by 60.4% in the fourth quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company’s stock worth $142,154,000 after purchasing an additional 411,607 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in shares of GeneDx by 87.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock worth $132,435,000 after purchasing an additional 474,167 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of GeneDx by 59.2% in the fourth quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock worth $102,288,000 after purchasing an additional 292,394 shares during the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting GeneDx

Here are the key news stories impacting GeneDx this week:

• Positive Sentiment: Casdin Capital, a director-linked investor, disclosed another sizable insider purchase of GeneDx shares, adding to a recent pattern of buying that may signal confidence in the company’s longer-term outlook. SEC filing
• Positive Sentiment: Earlier insider buying by Casdin Capital at prices above and near current trading levels may help reassure investors that some insiders view the stock as undervalued after the recent drawdown. SEC filing
• Neutral Sentiment: Analyst sentiment remains mixed but still constructive overall, with the stock carrying a “Moderate Buy” consensus and a price target well above recent trading levels, which may provide some support over time.
• Negative Sentiment: GeneDx is facing a growing stack of class-action notices and investor-rights campaigns, creating a legal overhang that can weigh on sentiment and raise uncertainty for shareholders. Article reference
• Negative Sentiment: The lawsuits center on allegations that the company hid deteriorating reimbursement rates and margin compression, while the stock’s prior plunge after Q1 results remains a major concern for investors. Article reference

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WGS. Jefferies Financial Group set a $150.00 price objective on GeneDx in a research report on Monday, February 23rd. Zacks Research lowered GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Weiss Ratings lowered GeneDx from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Piper Sandler reiterated an “overweight” rating and issued a $130.00 price objective (down from $160.00) on shares of GeneDx in a research report on Tuesday, February 24th. Finally, Canaccord Genuity Group set a $75.00 price objective on GeneDx and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, GeneDx presently has an average rating of “Moderate Buy” and a consensus price target 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.