Impax Asset Management Group plc Buys Shares of 50,000 GeneDx Holdings Corp. $WGS

Impax Asset Management Group plc bought a new position in GeneDx Holdings Corp. (NASDAQ:WGS) in the 3rd quarter, Holdings Channel reports. The firm bought 50,000 shares of the company’s stock, valued at approximately $5,387,000.

Several other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in shares of GeneDx by 664.3% in the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock valued at $25,000 after acquiring an additional 186 shares in the last quarter. AlphaQuest LLC increased its position in GeneDx by 351.5% during the 2nd quarter. AlphaQuest LLC now owns 763 shares of the company’s stock valued at $70,000 after purchasing an additional 594 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of GeneDx by 479.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,818 shares of the company’s stock valued at $168,000 after purchasing an additional 1,504 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of GeneDx by 61.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,917 shares of the company’s stock valued at $177,000 after purchasing an additional 726 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of GeneDx in the 3rd quarter worth approximately $187,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WGS shares. Wells Fargo & Company raised shares of GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research note on Monday. Wall Street Zen downgraded GeneDx from a “buy” rating to a “hold” rating in a report on Sunday. Canaccord Genuity Group boosted their price target on GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Weiss Ratings restated a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, January 21st. Finally, Guggenheim reiterated a “buy” rating and issued a $170.00 target price (up previously from $115.00) on shares of GeneDx in a research note on Wednesday, October 29th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $138.13.

Insider Activity at GeneDx

In related news, CEO Katherine Stueland sold 1,653 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $94.00, for a total value of $155,382.00. Following the completion of the transaction, the chief executive officer owned 16,458 shares in the company, valued at $1,547,052. This trade represents a 9.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Bryan Dechairo sold 5,961 shares of GeneDx stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $85.70, for a total value of $510,857.70. The SEC filing for this sale provides additional information. Insiders sold 68,961 shares of company stock valued at $10,027,891 over the last three months. 29.60% of the stock is owned by corporate insiders.

GeneDx Stock Down 3.5%

NASDAQ:WGS opened at $91.44 on Thursday. The company has a current ratio of 2.71, a quick ratio of 2.59 and a debt-to-equity ratio of 0.18. GeneDx Holdings Corp. has a twelve month low of $55.17 and a twelve month high of $170.87. The company has a market cap of $2.64 billion, a PE ratio of 1,016.00 and a beta of 2.00. The company’s 50 day moving average is $122.00 and its two-hundred day moving average is $125.15.

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.