GeneDx Holdings Corp. (NASDAQ:WGS) Short Interest Update

GeneDx Holdings Corp. (NASDAQ:WGS) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totalling 1,620,000 shares, an increase of 32.8% from the June 30th total of 1,220,000 shares. Based on an average daily trading volume, of 558,700 shares, the days-to-cover ratio is currently 2.9 days. Approximately 9.8% of the shares of the company are sold short.

Insiders Place Their Bets

In related news, Director Casdin Capital, Llc acquired 50,000 shares of GeneDx stock in a transaction dated Monday, May 13th. The shares were purchased at an average price of $23.31 per share, for a total transaction of $1,165,500.00. Following the completion of the transaction, the director now directly owns 2,753,509 shares in the company, valued at approximately $64,184,294.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other GeneDx news, Director Casdin Capital, Llc acquired 50,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was acquired at an average cost of $23.31 per share, with a total value of $1,165,500.00. Following the purchase, the director now directly owns 2,753,509 shares of the company’s stock, valued at approximately $64,184,294.79. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Opko Health, Inc. sold 60,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $33.85, for a total transaction of $2,031,000.00. Following the sale, the insider now owns 3,123,403 shares in the company, valued at $105,727,191.55. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 175,804 shares of company stock worth $3,771,670 and sold 356,505 shares worth $11,032,829. Company insiders own 28.10% of the company’s stock.

Institutional Trading of GeneDx

A number of institutional investors and hedge funds have recently made changes to their positions in WGS. Oracle Investment Management Inc. lifted its position in GeneDx by 531.7% during the first quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock valued at $10,286,000 after buying an additional 948,253 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of GeneDx during the 2nd quarter valued at $9,575,000. Gagnon Securities LLC boosted its position in GeneDx by 59.3% during the 1st quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock worth $5,079,000 after purchasing an additional 207,027 shares during the period. Decheng Capital LLC acquired a new stake in GeneDx in the 4th quarter valued at $285,000. Finally, Gagnon Advisors LLC raised its position in GeneDx by 41.6% in the first quarter. Gagnon Advisors LLC now owns 211,393 shares of the company’s stock valued at $1,930,000 after purchasing an additional 62,059 shares during the period. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WGS has been the subject of a number of research analyst reports. BTIG Research lifted their price objective on shares of GeneDx from $19.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Jefferies Financial Group began coverage on GeneDx in a report on Monday, June 3rd. They set a “hold” rating and a $21.00 price objective on the stock. The Goldman Sachs Group boosted their price target on GeneDx from $12.50 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. Craig Hallum started coverage on shares of GeneDx in a research report on Wednesday, July 10th. They set a “buy” rating and a $43.00 price objective for the company. Finally, TD Cowen raised their target price on GeneDx from $14.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $30.20.

GeneDx Stock Up 2.5 %

NASDAQ WGS traded up $0.81 during trading hours on Friday, hitting $33.53. 499,401 shares of the company’s stock were exchanged, compared to its average volume of 476,097. The business’s 50 day moving average is $27.31 and its 200-day moving average is $15.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.99 and a current ratio of 3.22. GeneDx has a 12-month low of $1.16 and a 12-month high of $35.65.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Monday, April 29th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.35. GeneDx had a negative net margin of 60.86% and a negative return on equity of 36.23%. The business had revenue of $62.42 million for the quarter, compared to analyst estimates of $49.80 million. Sell-side analysts forecast that GeneDx will post -0.92 earnings per share for the current fiscal year.

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.