Assenagon Asset Management S.A. Buys 191,780 Shares of GeneDx Holdings Corp. $WGS

Assenagon Asset Management S.A. increased its stake in GeneDx Holdings Corp. (NASDAQ:WGS) by 1,358.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 205,895 shares of the company’s stock after purchasing an additional 191,780 shares during the quarter. Assenagon Asset Management S.A.’s holdings in GeneDx were worth $26,779,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WGS. Jones Financial Companies Lllp increased its holdings in GeneDx by 664.3% during the third quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after buying an additional 186 shares during the last quarter. Quarry LP lifted its stake in GeneDx by 248.8% in the third quarter. Quarry LP now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 209 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in GeneDx in the third quarter valued at $65,000. AlphaQuest LLC grew its position in shares of GeneDx by 70.8% in the 3rd quarter. AlphaQuest LLC now owns 1,303 shares of the company’s stock valued at $140,000 after acquiring an additional 540 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of GeneDx by 479.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,818 shares of the company’s stock worth $168,000 after purchasing an additional 1,504 shares during the last quarter. 61.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WGS has been the topic of a number of research analyst reports. BTIG Research dropped their target price on shares of GeneDx from $200.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Canaccord Genuity Group lifted their price target on GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Zacks Research upgraded GeneDx from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. Wells Fargo & Company raised GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research report on Monday, February 9th. Finally, Wall Street Zen downgraded GeneDx from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $150.71.

GeneDx Stock Performance

Shares of NASDAQ:WGS opened at $66.95 on Thursday. GeneDx Holdings Corp. has a 12-month low of $55.17 and a 12-month high of $170.87. The company’s 50 day moving average price is $87.52 and its two-hundred day moving average price is $117.58. The firm has a market cap of $1.96 billion, a PE ratio of -89.27 and a beta of 2.03. The company has a quick ratio of 2.34, a current ratio of 2.46 and a debt-to-equity ratio of 0.16.

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

Insider Buying and Selling

In related news, CFO Kevin Feeley sold 6,187 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $78.61, for a total value of $486,360.07. Following the transaction, the chief financial officer owned 18,674 shares in the company, valued at approximately $1,467,963.14. This trade represents a 24.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katherine Stueland sold 25,459 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $78.61, for a total value of $2,001,331.99. Following the completion of the transaction, the chief executive officer directly owned 38,683 shares of the company’s stock, valued at approximately $3,040,870.63. This trade represents a 39.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 65,875 shares of company stock valued at $5,280,990 over the last 90 days. 29.60% of the stock is currently owned by insiders.

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.