Alpha DNA Investment Management LLC Has $434,000 Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Alpha DNA Investment Management LLC trimmed its position in GeneDx Holdings Corp. (NASDAQ:WGS) by 26.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 quarter.

Other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new position in GeneDx in the second quarter valued at about $2,362,000. Lisanti Capital Growth LLC bought a new position in GeneDx during the third quarter valued at $1,554,000. Chartwell Investment Partners LLC purchased a new stake in GeneDx in the third quarter worth $1,722,000. Millennium Management LLC raised its stake in shares of GeneDx by 193.5% in the second quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock valued at $8,140,000 after buying an additional 205,318 shares during the period. Finally, Algert Global LLC purchased a new position in shares of GeneDx during the 2nd quarter valued at $356,000. 61.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

GeneDx Price Performance

Shares of NASDAQ WGS opened at $78.71 on Monday. The company’s 50-day moving average is $59.61 and its 200 day moving average is $39.83. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The stock has a market capitalization of $2.16 billion, a P/E ratio of -25.31 and a beta of 2.11. GeneDx Holdings Corp. has a 1 year low of $1.41 and a 1 year high of $89.11.

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

Insider Buying and Selling at GeneDx

In related news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the transaction, the insider now owns 2,866,833 shares in the company, valued at $215,012,475. This represents a 23.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jason Ryan sold 31,510 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $71.28, for a total transaction of $2,246,032.80. Following the completion of the sale, the director now owns 15,490 shares in the company, valued at $1,104,127.20. This represents a 67.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,097,090 shares of company stock worth $81,094,171. 27.30% of the stock is owned by corporate insiders.

GeneDx Company 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.