Legato Capital Management LLC Has $2.13 Million Stake in GeneDx Holdings Corp. (NASDAQ:WGS)

Legato Capital Management LLC lifted its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 88.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,691 shares of the company’s stock after purchasing an additional 12,961 shares during the quarter. Legato Capital Management LLC owned 0.10% of GeneDx worth $2,128,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in WGS. Fred Alger Management LLC bought a new stake in shares of GeneDx during the third quarter worth $16,731,000. Geode Capital Management LLC grew its position in GeneDx by 8.7% during the 3rd quarter. Geode Capital Management LLC now owns 377,631 shares of the company’s stock worth $16,030,000 after acquiring an additional 30,379 shares during the last quarter. State Street Corp increased its holdings in GeneDx by 18.3% in the 3rd quarter. State Street Corp now owns 314,914 shares of the company’s stock worth $13,365,000 after purchasing an additional 48,735 shares in the last quarter. Zweig DiMenna Associates LLC acquired a new position in GeneDx in the 4th quarter worth about $23,788,000. Finally, Point72 Asset Management L.P. raised its position in GeneDx by 87.4% in the third quarter. Point72 Asset Management L.P. now owns 293,671 shares of the company’s stock valued at $12,463,000 after purchasing an additional 136,926 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on WGS. Craig Hallum upped their price objective on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. TD Cowen boosted their target price on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. The Goldman Sachs Group raised their price target on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price objective on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.67.

Insider Transactions at GeneDx

In related news, major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $70.78, for a total transaction of $8,973,629.96. Following the completion of the sale, the insider now owns 2,719,692 shares of the company’s stock, valued at $192,499,799.76. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin Feeley sold 1,137 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $76.37, for a total value of $86,832.69. Following the completion of the transaction, the chief financial officer now directly owns 24,731 shares in the company, valued at approximately $1,888,706.47. This trade represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 363,669 shares of company stock worth $28,061,081 over the last three months. 27.30% of the stock is owned by company insiders.

GeneDx Stock Performance

NASDAQ:WGS opened at $67.80 on Wednesday. GeneDx Holdings Corp. has a fifty-two week low of $3.86 and a fifty-two week high of $98.87. 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 company has a 50 day simple moving average of $76.62 and a two-hundred day simple moving average of $59.99.

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.