Wellington Management Group LLP Takes Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Wellington Management Group LLP purchased a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 140,792 shares of the company’s stock, valued at approximately $10,821,000.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of GeneDx by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company’s stock valued at $77,337,000 after purchasing an additional 156,768 shares during the period. William Blair Investment Management LLC acquired a new position in shares of GeneDx during the 4th quarter valued at $51,496,000. Geode Capital Management LLC increased its position in shares of GeneDx by 8.7% during the 3rd quarter. Geode Capital Management LLC now owns 377,631 shares of the company’s stock valued at $16,030,000 after purchasing an additional 30,379 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 valued at $13,365,000 after purchasing an additional 48,735 shares during the period. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of GeneDx in the 4th quarter worth $23,788,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Kevin Feeley sold 8,746 shares of GeneDx stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $95.61, for a total transaction of $836,205.06. Following the completion of the sale, the chief financial officer now owns 15,996 shares of the company’s stock, valued at approximately $1,529,377.56. This trade represents a 35.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 1,657 shares of GeneDx stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $78.48, for a total value of $130,041.36. Following the sale, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at approximately $308,975.76. The trade was a 29.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,670 shares of company stock worth $7,301,418. 27.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group lifted their target price on GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. TD Cowen lifted their target price on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, GeneDx presently has an average rating of “Moderate Buy” and a consensus target price of $72.33.

GeneDx Stock Performance

Shares of WGS stock opened at $97.29 on Thursday. GeneDx Holdings Corp. has a 1-year low of $8.63 and a 1-year high of $115.60. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -49.64 and a beta of 1.93. The stock’s fifty day simple moving average is $89.49 and its 200-day simple moving average is $77.32.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The business had revenue of $95.64 million for the quarter, compared to the consensus estimate of $82.24 million. On average, sell-side analysts predict that GeneDx Holdings Corp. will post 0.97 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.