Key Points
- Casdin Capital, LLC bought 140,000 shares of GeneDx at an average price of $43.81, spending about $6.13 million and lifting its stake by 4.16% to 3.51 million shares.
- The director had also purchased additional GeneDx shares earlier in the week, including 185,000 shares on May 19 and 175,000 shares on May 18, signaling continued insider buying.
- GeneDx recently reported a weaker-than-expected quarterly loss and revenue miss, while analysts still maintain a Moderate Buy consensus with an average price target of $96.43.
GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) Director Casdin Capital, Llc purchased 140,000 shares of GeneDx stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $43.81 per share, for a total transaction of $6,133,400.00. Following the transaction, the director directly owned 3,507,164 shares in the company, valued at $153,648,854.84. This represents a 4.16% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Casdin Capital, Llc also recently made the following trade(s):
- On Tuesday, May 19th, Casdin Capital, Llc purchased 185,000 shares of GeneDx stock. The shares were purchased at an average price of $42.60 per share, for a total transaction of $7,881,000.00.
- On Monday, May 18th, Casdin Capital, Llc purchased 175,000 shares of GeneDx stock. The shares were purchased at an average price of $42.55 per share, for a total transaction of $7,446,250.00.
GeneDx Stock Performance
NASDAQ WGS opened at $44.73 on Thursday. The company has a current ratio of 3.09, a quick ratio of 2.95 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -16.69 and a beta of 2.06. The firm's 50 day simple moving average is $61.30 and its 200 day simple moving average is $99.89. GeneDx Holdings Corp. has a 1 year low of $32.21 and a 1 year high of $170.87.
GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.22). GeneDx had a positive return on equity of 9.15% and a negative net margin of 17.58%.The firm had revenue of $102.25 million for the quarter, compared to analyst estimates of $112.46 million. During the same quarter in the prior year, the business posted ($0.23) EPS. As a group, research analysts expect that GeneDx Holdings Corp. will post -1 earnings per share for the current fiscal year.
Hedge Funds Weigh In On GeneDx
A number of hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake in GeneDx by 4.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,220,502 shares of the company's stock worth $158,738,000 after buying an additional 52,322 shares during the last quarter. Vanguard Group Inc. increased its stake in GeneDx by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 1,189,069 shares of the company's stock valued at $154,650,000 after purchasing an additional 18,647 shares in the last quarter. Franklin Resources Inc. increased its stake in GeneDx by 60.4% in the fourth quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company's stock valued at $142,154,000 after purchasing an additional 411,607 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in GeneDx by 87.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company's stock valued at $132,435,000 after purchasing an additional 474,167 shares in the last quarter. Finally, Invesco Ltd. increased its stake in GeneDx by 59.2% in the fourth quarter. Invesco Ltd. now owns 786,466 shares of the company's stock valued at $102,288,000 after purchasing an additional 292,394 shares in the last quarter. Institutional investors own 61.72% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the stock. BTIG Research lowered their target price 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. Weiss Ratings raised shares of GeneDx from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, May 15th. Canaccord Genuity Group set a $75.00 target price on shares of GeneDx and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Jefferies Financial Group set a $150.00 target price on shares of GeneDx in a research note on Monday, February 23rd. Finally, Craig Hallum reissued a "buy" rating and set a $85.00 target price on shares of GeneDx 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 given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $96.43.
Check Out Our Latest Stock Analysis on GeneDx
About GeneDx
(
Get 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.
Further Reading
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