Sumitomo Mitsui Trust Group Inc. Boosts Holdings in GeneDx Holdings Corp. $WGS

Sumitomo Mitsui Trust Group Inc. grew its position in GeneDx Holdings Corp. (NASDAQ:WGS) by 65.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 633,457 shares of the company’s stock after buying an additional 251,732 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 2.16% of GeneDx worth $40,681,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WGS. Kestra Advisory Services LLC purchased a new position in GeneDx in the 4th quarter worth about $27,000. Ramirez Asset Management Inc. purchased a new stake in shares of GeneDx during the 4th quarter valued at about $33,000. Greenline Wealth Management LLC purchased a new stake in shares of GeneDx during the 4th quarter valued at about $33,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of GeneDx in the fourth quarter worth approximately $35,000. Finally, Quarry LP grew 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 acquiring an additional 209 shares during the period. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WGS has been the topic of a number of research analyst reports. Zacks Research downgraded shares of GeneDx from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Piper Sandler reiterated an “overweight” rating and set a $63.00 target price (up from $50.00) on shares of GeneDx in a research note on Tuesday, June 23rd. Wells Fargo & Company reissued an “overweight” rating and set a $75.00 price target (down from $155.00) on shares of GeneDx in a report on Tuesday, May 5th. Weiss Ratings cut GeneDx from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Finally, Canaccord Genuity Group set a $75.00 price target on GeneDx and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.43.

GeneDx Stock Performance

GeneDx stock opened at $65.64 on Monday. GeneDx Holdings Corp. has a 12-month low of $32.21 and a 12-month high of $170.87. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -24.49 and a beta of 1.90. The firm has a 50 day moving average of $54.47 and a 200 day moving average of $76.94. The company has a current ratio of 3.09, a quick ratio of 2.95 and a debt-to-equity ratio of 0.38.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.28) earnings per share 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 analysts’ expectations 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 period in the prior year, the firm earned ($0.23) EPS. As a group, research analysts predict that GeneDx Holdings Corp. will post -1 earnings per share for the current year.

Insider Buying and Selling at GeneDx

In other GeneDx news, Director Casdin Capital, Llc purchased 185,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $42.60 per share, for a total transaction of $7,881,000.00. Following the purchase, the director owned 3,367,164 shares of the company’s stock, valued at approximately $143,441,186.40. This represents a 5.81% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Keith A. Meister acquired 533,758 shares of the stock in a transaction dated Thursday, May 7th. The stock was acquired at an average price of $37.86 per share, for a total transaction of $20,208,077.88. Following the completion of the transaction, the director directly owned 3,761,908 shares of the company’s stock, valued at approximately $142,425,836.88. This represents a 16.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 2,256,420 shares of company stock valued at $93,144,340 and sold 21,699 shares valued at $1,295,646. Corporate insiders own 25.17% of the company’s stock.

Key Stories Impacting GeneDx

Here are the key news stories impacting GeneDx this week:

• Negative Sentiment: Fresh class action and deadline notices are reinforcing litigation risk around GeneDx, which can pressure the stock as investors focus on potential damages, legal costs, and management distraction. Article: GeneDx Holdings (WGS) Hit with Securities Class Action Following 49% Stock Collapse – HBSS
• Negative Sentiment: Law firms are actively recruiting lead plaintiffs ahead of the August 3 deadline, keeping the securities-fraud allegations in the spotlight and adding to overhang on the shares. Article: WGS INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that GeneDx Holdings Corp. Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit
• Negative Sentiment: Additional reminders from Rosen, Kahn Swick & Foti, the Schall Law Firm, Bernstein Liebhard, and others suggest the litigation narrative is broadening rather than fading, which is unfavorable for investor confidence. Article: ROSEN, A LEADING LAW FIRM, Encourages GeneDx Holdings Corp. Investors to Secure Counsel Before Important Deadline in Securities Class Action – WGS

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.