Alpha DNA Investment Management LLC Sells 3,639 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Alpha DNA Investment Management LLC cut its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 26.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 10,236 shares of the company’s stock after selling 3,639 shares during the period. Alpha DNA Investment Management LLC’s holdings in GeneDx were worth $434,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Driehaus Capital Management LLC bought a new position in shares of GeneDx in the 2nd quarter valued at about $11,335,000. Assenagon Asset Management S.A. bought a new stake in shares of GeneDx in the 2nd quarter valued at approximately $9,575,000. Divisadero Street Capital Management LP purchased a new position in shares of GeneDx in the 2nd quarter worth approximately $5,886,000. Millennium Management LLC increased its position in shares of GeneDx by 193.5% during the 2nd quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock valued at $8,140,000 after purchasing an additional 205,318 shares during the last quarter. Finally, Raymond James & Associates bought a new stake in GeneDx in the third quarter worth $8,090,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

GeneDx Price Performance

WGS opened at $78.71 on Monday. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The business’s fifty day simple moving average is $59.61 and its 200-day simple moving average is $39.83. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -25.31 and a beta of 2.11. GeneDx Holdings Corp. has a 12-month low of $1.41 and a 12-month high of $89.11.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.25. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The company had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $64.98 million. During the same period in the prior year, the business earned ($0.82) EPS. The firm’s quarterly revenue was up 44.3% on a year-over-year basis. On average, equities research analysts anticipate that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WGS shares. Craig Hallum increased their target price on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their target price on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price target on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. TD Cowen upped their price objective on GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, BTIG Research lifted their target price on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.33.

Insider Activity at GeneDx

In other news, CEO Katherine Stueland sold 3,639 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $121,287.87. Following the sale, the chief executive officer now directly owns 95,457 shares in the company, valued at approximately $3,181,581.81. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin Feeley sold 895 shares of GeneDx stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $29,830.35. Following the completion of the transaction, the chief financial officer now directly owns 39,910 shares in the company, valued at approximately $1,330,200.30. The trade was a 2.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,097,090 shares of company stock valued at $81,094,171 over the last ninety days. 27.30% of the stock is owned by company insiders.

GeneDx Profile

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.