BNP Paribas Financial Markets Buys New Position in GeneDx Holdings Corp. (NASDAQ:WGS)

BNP Paribas Financial Markets purchased a new position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 56,588 shares of the company's stock, valued at approximately $4,349,000. BNP Paribas Financial Markets owned about 0.21% of GeneDx at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. William Blair Investment Management LLC bought a new stake in shares of GeneDx in the fourth quarter worth $51,496,000. Lord Abbett & CO. LLC bought a new stake in shares of GeneDx during the 4th quarter valued at about $48,458,000. Science & Technology Partners L.P. purchased a new stake in shares of GeneDx during the 4th quarter valued at about $30,821,000. Zweig DiMenna Associates LLC purchased a new stake in shares of GeneDx during the 4th quarter valued at about $23,788,000. Finally, Raymond James Financial Inc. purchased a new position in shares of GeneDx in the fourth quarter worth approximately $20,371,000. 61.72% of the stock is owned by institutional investors.

GeneDx Price Performance

GeneDx stock traded down $2.12 during mid-day trading on Tuesday, reaching $68.90. 135,674 shares of the company's stock traded hands, compared to its average volume of 755,299. GeneDx Holdings Corp. has a 12-month low of $19.16 and a 12-month high of $117.75. The company has a market cap of $1.97 billion, a price-to-earnings ratio of -35.19 and a beta of 1.96. The stock has a 50 day moving average of $86.68 and a two-hundred day moving average of $82.57. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.17. The company had revenue of $87.12 million during the quarter, compared to analysts' expectations of $79.90 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. Equities analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Activity

In related news, CFO Kevin Feeley sold 922 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $94.72, for a total transaction of $87,331.84. Following the sale, the chief financial officer now owns 5,446 shares of the company's stock, valued at $515,845.12. This trade represents a 14.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Katherine Stueland sold 2,731 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $94.73, for a total transaction 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. This represents a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 139,390 shares of company stock worth $13,043,288. 29.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research note on Friday, May 9th. Guggenheim initiated coverage on GeneDx in a research report on Thursday, May 15th. They set a "buy" rating and a $88.00 target price on the stock. The Goldman Sachs Group upped 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. Finally, TD Securities decreased their price objective on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, GeneDx presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.75.

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.