Legal Advantage Investments Inc. Sells 400 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Legal Advantage Investments Inc. lessened its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,100 shares of the company’s stock after selling 400 shares during the period. GeneDx accounts for approximately 1.4% of Legal Advantage Investments Inc.’s holdings, making the stock its 25th biggest position. Legal Advantage Investments Inc. owned 0.12% of GeneDx worth $2,621,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WGS. CWM LLC bought a new position in shares of GeneDx during the 3rd quarter valued at about $89,000. SG Americas Securities LLC bought a new position in shares of GeneDx during the 3rd quarter valued at about $198,000. Point72 DIFC Ltd bought a new position in shares of GeneDx in the 3rd quarter valued at about $220,000. Palumbo Wealth Management LLC bought a new position in shares of GeneDx in the 3rd quarter valued at about $287,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of GeneDx in the 2nd quarter valued at about $290,000. Institutional investors own 61.72% of the company’s stock.

Insider Activity

In other GeneDx news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total value of $64,935,000.00. Following the completion of the sale, the insider now directly owns 2,866,833 shares in the company, valued at $215,012,475. This trade represents a 23.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Feeley sold 12,019 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $73.76, for a total transaction of $886,521.44. Following the completion of the sale, the chief financial officer now owns 32,932 shares of the company’s stock, valued at approximately $2,429,064.32. This trade represents a 26.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,229,965 shares of company stock worth $93,006,163. Corporate insiders own 27.30% of the company’s stock.

GeneDx Price Performance

Shares of NASDAQ:WGS opened at $69.48 on Tuesday. The firm’s 50 day simple moving average is $77.70 and its 200-day simple moving average is $55.48. GeneDx Holdings Corp. has a one year low of $2.85 and a one year high of $98.87. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, October 29th. The company reported $0.04 EPS 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 analyst estimates of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The company’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same period last year, the company posted ($0.82) earnings per share. Analysts forecast that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

WGS has been the subject of a number of analyst reports. Craig Hallum increased their price target on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price target on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group increased their price target on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, TD Cowen increased their price target on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, GeneDx presently has an average rating of “Moderate Buy” and an average target price of $70.67.

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.