GeneDx Holdings Corp. (NASDAQ:WGS) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 8.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 377,631 shares of the company’s stock after purchasing an additional 30,379 shares during the period. Geode Capital Management LLC’s holdings in GeneDx were worth $16,030,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Barclays PLC grew its holdings in shares of GeneDx by 346.3% in the third quarter. Barclays PLC now owns 18,921 shares of the company’s stock valued at $803,000 after purchasing an additional 14,681 shares during the period. State Street Corp increased its position in shares of GeneDx by 18.3% during 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 during the last quarter. Point72 DIFC Ltd acquired a new position in GeneDx in the third quarter valued at about $220,000. Point72 Asset Management L.P. increased its position in shares of GeneDx by 87.4% during the third quarter. Point72 Asset Management L.P. now owns 293,671 shares of the company’s stock valued at $12,463,000 after acquiring an additional 136,926 shares during the last quarter. Finally, Fred Alger Management LLC purchased a new stake in shares of GeneDx in the 3rd quarter valued at approximately $16,731,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

GeneDx Stock Down 1.8 %

Shares of NASDAQ WGS opened at $78.05 on Monday. The stock has a market cap of $2.14 billion, a P/E ratio of -25.10 and a beta of 2.03. The business’s fifty day simple moving average is $74.30 and its 200-day simple moving average is $49.31. GeneDx Holdings Corp. has a 12-month low of $2.47 and a 12-month high of $89.11. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The company had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. During the same quarter last year, the company earned ($0.82) EPS. GeneDx’s revenue for the quarter was up 44.3% compared to the same quarter last year. As a group, equities analysts predict that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WGS. Wells Fargo & Company lifted their target price 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. Craig Hallum lifted 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. Finally, The Goldman Sachs Group increased their target price on GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.33.

Insider Buying and Selling

In other news, CEO Katherine Stueland sold 2,154 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total transaction of $143,456.40. Following the sale, the chief executive officer now owns 105,426 shares of the company’s stock, valued at approximately $7,021,371.60. This trade represents a 2.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Feeley sold 3,728 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $76.75, for a total value of $286,124.00. Following the completion of the transaction, the chief financial officer now directly owns 28,200 shares of the company’s stock, valued at $2,164,350. This trade represents a 11.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,123,603 shares of company stock worth $83,300,382 over the last 90 days. 27.30% of the stock is owned by insiders.

About GeneDx

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.