Legato Capital Management Increases Stake in GeneDx Holdings Corp.

Legato Capital Management LLC has significantly increased its investment in GeneDx Holdings Corp. (NASDAQ:WGS) by 88.0% during the fourth quarter of the fiscal year. This information comes from the latest 13F filing with the Securities and Exchange Commission. Following this increase, the fund now owns a total of 27,691 shares of GeneDx stock, having purchased an additional 12,961 shares during the quarter. The value of Legato Capital Management's stake in GeneDx is estimated to be around $2,128,000 based on their most recent filings.

Institutional Investor Activity

Several other institutional investors have also adjusted their positions in GeneDx. For example, Fred Alger Management LLC acquired a new stake in the company during the third quarter, valued at $16,731,000. Likewise, Geode Capital Management LLC increased its holdings in GeneDx by 8.7% during the same period, bringing its total ownership to 377,631 shares worth approximately $16,030,000 after buying 30,379 additional shares. Meanwhile, State Street Corp raised its stake by 18.3%, now owning 314,914 shares valued at around $13,365,000 after purchasing an extra 48,735 shares. In the fourth quarter, Zweig DiMenna Associates LLC entered the market with a new stake valued at about $23,788,000. Lastly, Point72 Asset Management L.P. increased its position in GeneDx by 87.4%, owning 293,671 shares valued at approximately $12,463,000 after acquiring an additional 136,926 shares. As it stands, institutional investors and hedge funds own 61.72% of the total shares in GeneDx.

Recent Analyst Ratings

Analysts have recently adjusted their price targets for GeneDx Holdings Corp. Craig Hallum raised their price target from $70.00 to $95.00, maintaining a "buy" rating in their report dated October 30. Similarly, TD Cowen increased their target price from $75.00 to $118.00, also giving it a "buy" rating in their January 7 report. The Goldman Sachs Group revised their price target from $54.00 to $70.00, rating the stock as "neutral" on October 30. Wells Fargo & Company also adjusted their price objective from $34.00 to $75.00 with an "equal weight" rating. In total, three analysts have assigned a hold rating to the stock while three others have given it a buy rating. Current data from MarketBeat.com shows that GeneDx holds an average rating of "Moderate Buy" and a consensus target price of $70.67.

Insider Activity at GeneDx

In related news, major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of GeneDx on November 18 at an average price of $70.78, totaling nearly $8,973,630. Following this transaction, the shareholder now holds 2,719,692 shares, valued at approximately $192.5 million, marking a 4.45% reduction in ownership. This sale was publicly disclosed through a filing with the SEC. Additionally, CFO Kevin Feeley sold 1,137 shares on December 9 for about $86,832, representing a 4.40% decrease in his ownership. In total, insiders sold 363,669 shares worth $28,061,081 in the past three months, indicating that insiders own approximately 27.30% of the company's shares.

GeneDx Stock Overview

As for GeneDx Holdings Corp., shares opened at $67.80 on the Nasdaq market. The company's stock has fluctuated significantly over the past year, reaching a low of $3.86 and a high of $98.87. The company maintains a debt-to-equity ratio of 0.25, a current ratio of 2.40, and a quick ratio of 2.27. The recent 50-day simple moving average stands at $76.62, while the 200-day average is $59.99.

Company Profile

GeneDx Holdings Corp. offers genomics-related diagnostic and information services through its various subsidiaries. The firm also provides Centrellis, an innovative AI-driven health intelligence platform that assists researchers in analyzing clinical and genomic data to deliver comprehensive health insights.

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