Divisadero Street Capital Management LP Boosts Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Divisadero Street Capital Management LP grew its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 29.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 288,240 shares of the company's stock after acquiring an additional 66,296 shares during the period. GeneDx comprises approximately 2.6% of Divisadero Street Capital Management LP's investment portfolio, making the stock its 12th biggest holding. Divisadero Street Capital Management LP owned approximately 1.05% of GeneDx worth $22,154,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. MCF Advisors LLC raised its stake in shares of GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company's stock worth $27,000 after acquiring an additional 182 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of GeneDx by 877.8% during the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after purchasing an additional 316 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of GeneDx in the 4th quarter worth $28,000. Comerica Bank purchased a new position in GeneDx during the 4th quarter worth $50,000. Finally, Quarry LP acquired a new position in GeneDx during the 4th quarter valued at about $78,000. Hedge funds and other institutional investors own 61.72% of the company's stock.

GeneDx Stock Performance

NASDAQ:WGS traded up $2.57 during trading hours on Friday, reaching $58.93. The company had a trading volume of 1,575,298 shares, compared to its average volume of 739,796. 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 Holdings Corp. has a 1-year low of $19.16 and a 1-year high of $117.75. The business's 50 day moving average price is $90.42 and its 200-day moving average price is $82.63. The firm has a market cap of $1.65 billion, a PE ratio of -30.07 and a beta of 1.96.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $87.12 million for the quarter, compared to the consensus estimate of $79.90 million. Research analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Activity at GeneDx

In other news, CEO Katherine Stueland sold 2,731 shares of the company's stock in a transaction that occurred on 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 directly owns 7,752 shares of the company's stock, valued at $734,346.96. This represents a 26.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin Feeley sold 388 shares of GeneDx stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $113.09, for a total transaction of $43,878.92. Following the completion of the sale, the chief financial officer now directly owns 3,337 shares in the company, valued at $377,381.33. This represents a 10.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 139,390 shares of company stock worth $13,043,288 in the last 90 days. Corporate insiders own 27.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research note on Friday. Wells Fargo & Company cut their target price 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. TD Securities dropped their price target on GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.57.

GeneDx 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.