Franklin Resources Inc. Has $142.15 Million Stock Holdings in GeneDx Holdings Corp. $WGS

Franklin Resources Inc. increased its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 60.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,092,988 shares of the company’s stock after buying an additional 411,607 shares during the quarter. Franklin Resources Inc. owned 3.78% of GeneDx worth $142,154,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its position 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 in the last quarter. Quarry LP grew its position in GeneDx by 248.8% during the third quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after buying an additional 209 shares in the last quarter. Ramirez Asset Management Inc. acquired a new stake in GeneDx during the fourth quarter worth about $33,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in GeneDx during the fourth quarter worth about $35,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in GeneDx during the third quarter worth about $65,000. 61.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at GeneDx

In other news, Director Keith A. Meister bought 533,758 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was bought at an average price of $37.86 per share, for a total transaction of $20,208,077.88. Following the completion of the purchase, the director owned 3,761,908 shares of the company’s stock, valued at approximately $142,425,836.88. The trade was a 16.53% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Casdin Capital, Llc bought 185,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average price of $42.60 per share, with a total value of $7,881,000.00. Following the purchase, the director directly owned 3,367,164 shares of the company’s stock, valued at $143,441,186.40. The trade was a 5.81% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 2,256,420 shares of company stock valued at $93,144,340 and have sold 72,382 shares valued at $4,889,473. 29.60% of the stock is owned by company insiders.

GeneDx News Summary

Here are the key news stories impacting GeneDx this week:

• Positive Sentiment: Casdin Capital, a director-linked investor, disclosed another sizable insider purchase of GeneDx shares, adding to a recent pattern of buying that may signal confidence in the company’s longer-term outlook. SEC filing
• Positive Sentiment: Earlier insider buying by Casdin Capital at prices above and near current trading levels may help reassure investors that some insiders view the stock as undervalued after the recent drawdown. SEC filing
• Neutral Sentiment: Analyst sentiment remains mixed but still constructive overall, with the stock carrying a “Moderate Buy” consensus and a price target well above recent trading levels, which may provide some support over time.
• Negative Sentiment: GeneDx is facing a growing stack of class-action notices and investor-rights campaigns, creating a legal overhang that can weigh on sentiment and raise uncertainty for shareholders. Article reference
• Negative Sentiment: The lawsuits center on allegations that the company hid deteriorating reimbursement rates and margin compression, while the stock’s prior plunge after Q1 results remains a major concern for investors. Article reference

GeneDx Stock Down 3.6%

Shares of WGS opened at $54.32 on Thursday. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -20.27 and a beta of 1.96. The company has a quick ratio of 2.95, a current ratio of 3.09 and a debt-to-equity ratio of 0.38. GeneDx Holdings Corp. has a 12 month low of $32.21 and a 12 month high of $170.87. The company has a 50-day moving average price of $55.13 and a two-hundred day moving average price of $91.01.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). The business had revenue of $102.25 million for the quarter, compared to the consensus estimate of $112.46 million. GeneDx had a positive return on equity of 9.15% and a negative net margin of 17.58%.During the same quarter in the prior year, the business earned ($0.23) EPS. Equities analysts predict that GeneDx Holdings Corp. will post -1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wall Street Zen downgraded GeneDx from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Jefferies Financial Group set a $150.00 target price on GeneDx in a research report on Monday, February 23rd. Piper Sandler reissued an “overweight” rating and set a $130.00 target price (down from $160.00) on shares of GeneDx in a research report on Tuesday, February 24th. Zacks Research cut shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Finally, BTIG Research cut their price target on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.43.

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.