Intech Investment Management LLC Makes New Investment in GeneDx Holdings Corp. (NASDAQ:WGS)

Intech Investment Management LLC bought a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,844 shares of the company’s stock, valued at approximately $372,000.

Other institutional investors have also recently made changes to their positions in the company. William Blair Investment Management LLC bought a new stake in GeneDx during the fourth quarter worth approximately $51,496,000. Fred Alger Management LLC purchased a new stake in GeneDx during the 3rd quarter valued at $16,731,000. Geode Capital Management LLC lifted its position in GeneDx by 8.7% in the third quarter. Geode Capital Management LLC now owns 377,631 shares of the company’s stock worth $16,030,000 after buying an additional 30,379 shares during the last quarter. State Street Corp boosted its stake in GeneDx by 18.3% during the third quarter. State Street Corp now owns 314,914 shares of the company’s stock worth $13,365,000 after buying an additional 48,735 shares during the period. Finally, Zweig DiMenna Associates LLC bought a new position in GeneDx during the fourth quarter valued at $23,788,000. Institutional investors own 61.72% of the company’s stock.

GeneDx Trading Down 2.5 %

Shares of WGS opened at $100.59 on Wednesday. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of -51.32 and a beta of 1.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. GeneDx Holdings Corp. has a 1-year low of $8.30 and a 1-year high of $115.60. The company has a 50-day moving average of $85.82 and a 200 day moving average of $73.21.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.66. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The firm had revenue of $95.64 million during the quarter, compared to the consensus estimate of $82.24 million. On average, research analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on WGS. TD Cowen lifted their price target on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group boosted their target price on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.33.

Insiders Place Their Bets

In other news, CEO Katherine Stueland sold 18,006 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $78.18, for a total value of $1,407,709.08. Following the completion of the sale, the chief executive officer now owns 53,140 shares of the company’s stock, valued at approximately $4,154,485.20. This represents a 25.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Feeley sold 402 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $90.05, for a total transaction of $36,200.10. Following the transaction, the chief financial officer now owns 5,044 shares in the company, valued at approximately $454,212.20. This represents a 7.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,735 shares of company stock worth $11,719,787. 27.30% of the stock is currently owned by company insiders.

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.