Amova Asset Management Americas Inc. Makes New Investment in GeneDx Holdings Corp. $WGS

Amova Asset Management Americas Inc. acquired a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) during the third quarter, Holdings Channel.com reports. The fund acquired 292,255 shares of the company’s stock, valued at approximately $31,444,000.

Other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake 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 purchasing an additional 186 shares during the period. AlphaQuest LLC lifted its holdings in GeneDx by 351.5% in the 2nd quarter. AlphaQuest LLC now owns 763 shares of the company’s stock worth $70,000 after buying an additional 594 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in 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 buying an additional 1,504 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of GeneDx by 61.0% during the second quarter. Ameritas Investment Partners Inc. now owns 1,917 shares of the company’s stock valued at $177,000 after acquiring an additional 726 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of GeneDx during the third quarter worth about $187,000. 61.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on WGS. Piper Sandler reissued an “overweight” rating and issued a $130.00 price target (down from $160.00) on shares of GeneDx in a report on Tuesday, February 24th. Wall Street Zen cut GeneDx from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Jefferies Financial Group set a $150.00 price target on shares of GeneDx in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a report on Wednesday, January 21st. Finally, BTIG Research decreased their price objective on shares of GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, GeneDx currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.71.

GeneDx Stock Up 3.2%

Shares of NASDAQ:WGS opened at $79.47 on Thursday. The company’s fifty day moving average is $102.81 and its two-hundred day moving average is $122.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.34 and a current ratio of 2.46. GeneDx Holdings Corp. has a 1-year low of $55.17 and a 1-year high of $170.87. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of -105.96 and a beta of 2.03.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $120.99 million during the quarter, compared to the consensus estimate of $120.80 million. GeneDx had a negative net margin of 4.92% and a positive return on equity of 14.73%. Equities analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Transactions at GeneDx

In other news, CFO Kevin Feeley sold 317 shares of the business’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $93.99, for a total transaction of $29,794.83. Following the completion of the transaction, the chief financial officer owned 9,168 shares of the company’s stock, valued at approximately $861,700.32. The trade was a 3.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Katherine Stueland sold 1,653 shares of the stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $94.00, for a total transaction of $155,382.00. Following the completion of the sale, the chief executive officer directly owned 16,458 shares in the company, valued at approximately $1,547,052. This trade represents a 9.13% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 30,961 shares of company stock worth $3,933,831. 29.60% of the stock is currently owned by company insiders.

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.