Amova Asset Management Americas Inc. Boosts Stock Position in GeneDx Holdings Corp. $WGS

Amova Asset Management Americas Inc. lifted its stake in GeneDx Holdings Corp. (NASDAQ:WGS) by 30.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 381,725 shares of the company’s stock after acquiring an additional 89,470 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in GeneDx were worth $49,647,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of 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 worth $25,000 after buying an additional 186 shares during the last quarter. Quarry LP boosted its stake in shares of GeneDx by 248.8% in the third quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after buying an additional 209 shares during the last quarter. Ramirez Asset Management Inc. purchased a new stake in shares of GeneDx in the fourth quarter worth about $33,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of GeneDx in the fourth quarter worth about $35,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of GeneDx in the third quarter worth about $65,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on WGS. Jefferies Financial Group set a $150.00 price target on GeneDx in a research report on Monday, February 23rd. Zacks Research downgraded GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Wells Fargo & Company reiterated an “overweight” rating and set a $75.00 price target (down from $155.00) on shares of GeneDx in a research report on Tuesday, May 5th. Craig Hallum reiterated a “buy” rating and set a $85.00 price target on shares of GeneDx in a research report on Tuesday, May 5th. Finally, Canaccord Genuity Group set a $75.00 price target 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 given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.43.

Key Headlines Impacting GeneDx

Here are the key news stories impacting GeneDx this week:

• Positive Sentiment: Director Casdin Capital, LLC bought 50,000 shares at an average price of $52.86, adding to a recent buying streak that may signal confidence from a major insider. SEC filing
• Positive Sentiment: Casdin Capital also disclosed a larger purchase of 150,000 shares at $56.44 on June 4, reinforcing the impression of insider accumulation after the stock’s recent weakness. SEC filing
• Neutral Sentiment: GeneDx also presented at Goldman Sachs’ Global Healthcare Conference, which may have helped keep the stock in focus, but no major new operating update was highlighted in the transcript. Conference transcript
• Neutral Sentiment: Analyst sentiment remains mixed-to-positive overall, with the stock carrying an average “Moderate Buy” rating, though that view has not changed the near-term legal headline risk. Analyst rating update
• Negative Sentiment: Several law firms issued fresh class-action notices and lead-plaintiff reminders tied to GeneDx’s stock drop after its Q1 results, keeping investor attention on potential securities-fraud claims and litigation uncertainty. Class action alert
• Negative Sentiment: The lawsuits center on alleged misleading disclosures and a steep post-earnings selloff, which may continue to weigh on sentiment despite insider buying. Litigation report

Insider Activity at GeneDx

In other news, Director Casdin Capital, Llc purchased 185,000 shares of the stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average cost of $42.60 per share, for a total transaction of $7,881,000.00. Following the completion of the transaction, the director directly owned 3,367,164 shares in the company, valued at approximately $143,441,186.40. This represents a 5.81% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Keith A. Meister purchased 533,758 shares of the stock in a transaction dated Thursday, May 7th. The shares were purchased at an average price of $37.86 per share, with a total value of $20,208,077.88. Following the completion of the transaction, the director owned 3,761,908 shares of the company’s stock, valued at approximately $142,425,836.88. This trade represents a 16.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 2,256,420 shares of company stock valued at $93,144,340 and sold 72,382 shares valued at $4,889,473. Corporate insiders own 29.60% of the company’s stock.

GeneDx Price Performance

Shares of GeneDx stock opened at $56.33 on Wednesday. GeneDx Holdings Corp. has a 12 month low of $32.21 and a 12 month high of $170.87. 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 stock has a market capitalization of $1.67 billion, a P/E ratio of -21.02 and a beta of 1.96. The business has a 50 day simple moving average of $55.24 and a two-hundred day simple moving average of $91.57.

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

GeneDx 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.