Casdin Capital, Llc Buys 140,000 Shares of GeneDx (NASDAQ:WGS) Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Casdin Capital, Llc bought 140,000 shares of GeneDx stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $43.81 per share, with a total value of $6,133,400.00. Following the acquisition, the director owned 3,507,164 shares of the company’s stock, valued at $153,648,854.84. The trade was a 4.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Tuesday, May 19th, Casdin Capital, Llc bought 185,000 shares of GeneDx stock. The shares were acquired at an average cost of $42.60 per share, with a total value of $7,881,000.00.
• On Monday, May 18th, Casdin Capital, Llc bought 175,000 shares of GeneDx stock. The shares were acquired at an average cost of $42.55 per share, with a total value of $7,446,250.00.

GeneDx Trading Up 5.8%

Shares of GeneDx stock opened at $47.33 on Friday. 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 firm has a fifty day moving average price of $60.47 and a 200 day moving average price of $99.26. GeneDx Holdings Corp. has a 1 year low of $32.21 and a 1 year high of $170.87. The stock has a market cap of $1.41 billion, a PE ratio of -17.66 and a beta of 2.06.

GeneDx (NASDAQ:WGS) last released 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). The firm had revenue of $102.25 million for the quarter, compared to analyst estimates of $112.46 million. GeneDx had a negative net margin of 17.58% and a positive return on equity of 9.15%. During the same quarter in the prior year, the business posted ($0.23) EPS. Equities research analysts predict that GeneDx Holdings Corp. will post -1 earnings per share for the current year.

Institutional Trading of GeneDx

Several institutional investors have recently modified their holdings of WGS. Royal Bank of Canada grew its position in shares of GeneDx by 30.2% in the first quarter. Royal Bank of Canada now owns 29,479 shares of the company’s stock valued at $2,611,000 after purchasing an additional 6,840 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of GeneDx by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock valued at $677,000 after purchasing an additional 453 shares during the period. NewEdge Advisors LLC grew its position in shares of GeneDx by 270,700.0% in the first quarter. NewEdge Advisors LLC now owns 2,708 shares of the company’s stock valued at $240,000 after purchasing an additional 2,707 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of GeneDx by 67.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,224 shares of the company’s stock valued at $2,500,000 after purchasing an additional 11,375 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in shares of GeneDx in the second quarter valued at about $249,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Analysts Set New Price Targets

WGS has been the topic of several analyst reports. Jefferies Financial Group set a $150.00 price target on shares of GeneDx in a research report on Monday, February 23rd. Zacks Research lowered shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Weiss Ratings upgraded shares of GeneDx from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th. BTIG Research dropped their price target on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Finally, Canaccord Genuity Group set a $75.00 price target on shares of GeneDx and gave the company a “buy” rating in a research report on Tuesday, May 5th. 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. According to data from MarketBeat, GeneDx has a consensus rating of “Moderate Buy” and an average target price of $96.43.

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.