Simplify Asset Management Inc. Cuts Stock Position in GeneDx Holdings Corp. $WGS

by · The Cerbat Gem

Simplify Asset Management Inc. trimmed its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS – Free Report) by 72.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,629 shares of the company’s stock after selling 41,071 shares during the period. Simplify Asset Management Inc.’s holdings in GeneDx were worth $1,684,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Northern Trust Corp grew its position in GeneDx by 3.1% during the first quarter. Northern Trust Corp now owns 185,189 shares of the company’s stock valued at $16,401,000 after acquiring an additional 5,538 shares during the last quarter. Comerica Bank raised its position in GeneDx by 2,271.0% in the 1st quarter. Comerica Bank now owns 15,388 shares of the company’s stock worth $1,363,000 after purchasing an additional 14,739 shares during the period. Magnetar Financial LLC bought a new stake in GeneDx in the first quarter worth $555,000. Royal Bank of Canada boosted its position in GeneDx by 30.2% during the first quarter. Royal Bank of Canada now owns 29,479 shares of the company’s stock valued at $2,611,000 after buying an additional 6,840 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of GeneDx by 3,054.5% during the first quarter. Alliancebernstein L.P. now owns 436,900 shares of the company’s stock valued at $38,694,000 after buying an additional 423,050 shares during the last quarter. Institutional investors own 61.72% of the company’s stock.

GeneDx Price Performance

WGS opened at $129.34 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.59 and a current ratio of 2.71. The stock has a market capitalization of $3.74 billion, a PE ratio of 1,437.11 and a beta of 1.98. The stock’s 50 day moving average price is $142.84 and its 200-day moving average price is $119.35. GeneDx Holdings Corp. has a 52-week low of $55.17 and a 52-week high of $170.87.

GeneDx (NASDAQ:WGS – Get Free Report) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.21. The business had revenue of $116.74 million for the quarter, compared to analysts’ expectations of $104.33 million. GeneDx had a net margin of 0.52% and a return on equity of 20.22%. On average, equities research analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, October 8th. Piper Sandler boosted their price objective on GeneDx from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Canaccord Genuity Group increased their price objective on GeneDx from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Wall Street Zen downgraded shares of GeneDx from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Zacks Research cut shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $135.89.

Check Out Our Latest Stock Analysis on WGS

Insider Activity

In other GeneDx news, CFO Kevin Feeley sold 3,855 shares of GeneDx stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $143.87, for a total transaction of $554,618.85. Following the sale, the chief financial officer directly owned 8,731 shares of the company’s stock, valued at approximately $1,256,128.97. The trade was a 30.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joshua Ruch sold 38,000 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $160.37, for a total value of $6,094,060.00. Following the transaction, the director owned 11,941 shares in the company, valued at $1,914,978.17. This trade represents a 76.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 60,163 shares of company stock valued at $9,339,792. Corporate insiders own 29.60% of the company’s stock.

GeneDx Company Profile

(Free Report)

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.

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