Algert Global LLC Reduces Stock Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Algert Global LLC lessened its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 35.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,926 shares of the company's stock after selling 23,202 shares during the period. Algert Global LLC owned about 0.16% of GeneDx worth $3,299,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Freestone Grove Partners LP purchased a new stake in shares of GeneDx in the 4th quarter worth about $445,000. Comerica Bank purchased a new stake in GeneDx in the fourth quarter worth about $50,000. Regal Partners Ltd bought a new stake in GeneDx during the 4th quarter valued at approximately $769,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of GeneDx during the 4th quarter worth approximately $4,430,000. Finally, Northern Trust Corp raised its position in shares of GeneDx by 19.7% in the 4th quarter. Northern Trust Corp now owns 179,651 shares of the company's stock worth $13,808,000 after acquiring an additional 29,608 shares in the last quarter. Institutional investors own 61.72% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WGS shares. Wells Fargo & Company reduced their price target on GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. TD Securities dropped their target price on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, The Goldman Sachs Group increased their price target on shares of GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $78.14.

GeneDx Price Performance

Shares of NASDAQ:WGS opened at $57.34 on Thursday. The company has a market capitalization of $1.61 billion, a PE ratio of -29.25 and a beta of 1.96. The business has a fifty day moving average price of $91.98 and a 200-day moving average price of $82.64. GeneDx Holdings Corp. has a 1-year low of $18.80 and a 1-year high of $117.75. 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 (NASDAQ:WGS - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.17. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The business had revenue of $87.12 million during the quarter, compared to analysts' expectations of $79.90 million. As a group, equities analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 1,078 shares of GeneDx stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $89.44, for a total value of $96,416.32. Following the completion of the sale, the chief executive officer now owns 6,674 shares of the company's stock, valued at approximately $596,922.56. The trade was a 13.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Feeley sold 922 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $94.72, for a total value of $87,331.84. Following the completion of the transaction, the chief financial officer now owns 5,446 shares in the company, valued at approximately $515,845.12. This trade represents a 14.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 139,390 shares of company stock worth $13,043,288. Insiders own 27.30% of the company's stock.

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.

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