AQR Capital Management LLC Decreases Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

AQR Capital Management LLC lowered its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 34.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,531 shares of the company's stock after selling 29,859 shares during the quarter. AQR Capital Management LLC owned 0.21% of GeneDx worth $4,422,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WGS. Vanguard Group Inc. grew its holdings in shares of GeneDx by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company's stock valued at $77,337,000 after buying an additional 156,768 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of GeneDx during the 4th quarter valued at about $51,496,000. Lord Abbett & CO. LLC purchased a new stake in GeneDx in the fourth quarter valued at $48,458,000. Science & Technology Partners L.P. purchased a new stake in GeneDx in the fourth quarter valued at approximately $30,821,000. Finally, Geode Capital Management LLC grew its holdings in shares of GeneDx by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 382,350 shares of the company's stock valued at $29,396,000 after purchasing an additional 4,719 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WGS has been the topic of several research analyst reports. The Goldman Sachs Group lifted their price target on GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. TD Securities reduced their target price on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research note on Friday. Finally, Wells Fargo & Company lowered their price target on GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $86.57.

Insider Buying and Selling at GeneDx

In other news, Director Keith A. Meister acquired 100,000 shares of the business's stock in a transaction on Thursday, May 8th. The stock was bought at an average cost of $56.01 per share, for a total transaction of $5,601,000.00. Following the purchase, the director now owns 3,008,629 shares in the company, valued at approximately $168,513,310.29. This represents a 3.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Katherine Stueland sold 2,731 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $94.73, for a total value of $258,707.63. Following the completion of the transaction, the chief executive officer now owns 7,752 shares of the company's stock, valued at $734,346.96. The trade was a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 139,390 shares of company stock valued at $13,043,288 in the last three months. Company insiders own 27.30% of the company's stock.

GeneDx Trading Up 3.3%

Shares of GeneDx stock traded up $1.93 during midday trading on Tuesday, reaching $60.93. 1,664,844 shares of the company's stock traded hands, compared to its average volume of 743,421. The stock has a 50 day moving average of $89.49 and a 200-day moving average of $82.98. The company has a market cap of $1.71 billion, a PE ratio of -31.09 and a beta of 1.96. 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 Holdings Corp. has a 12 month low of $19.16 and a 12 month high of $117.75.

GeneDx (NASDAQ:WGS - Get Free Report) last announced 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 positive return on equity of 3.33% and a negative net margin of 17.12%. The business had revenue of $87.12 million for 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.

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.