14,240 Shares in GeneDx Holdings Corp. (NASDAQ:WGS) Bought by Principal Financial Group Inc.

Principal Financial Group Inc. acquired a new stake in GeneDx Holdings Corp. (NASDAQ:WGS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 14,240 shares of the company’s stock, valued at approximately $604,000.

A number of other large investors also recently bought and sold shares of WGS. Acadian Asset Management LLC purchased a new stake in shares of GeneDx during the 2nd quarter worth $34,000. CWM LLC acquired a new stake in shares of GeneDx in the third quarter valued at approximately $89,000. SG Americas Securities LLC purchased a new position in GeneDx during the third quarter worth $198,000. Point72 DIFC Ltd acquired a new position in shares of GeneDx in the third quarter worth $220,000. Finally, Palumbo Wealth Management LLC purchased a new stake in shares of GeneDx in the third quarter valued at $287,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Insider Transactions at GeneDx

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on WGS shares. Craig Hallum lifted their price target on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their target price on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price target on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, GeneDx currently has an average rating of “Moderate Buy” and an average price target of $59.33.

GeneDx Stock Performance

Shares of NASDAQ:WGS opened at $79.14 on Monday. The company has a market cap of $2.17 billion, a P/E ratio of -25.45 and a beta of 2.03. The business’s 50-day simple moving average is $76.28 and its 200 day simple moving average is $51.22. GeneDx Holdings Corp. has a one year low of $2.63 and a one year high of $89.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40.

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

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.