Driehaus Capital Management LLC Sells 147,865 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Driehaus Capital Management LLC lessened its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 31.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 324,918 shares of the company's stock after selling 147,865 shares during the quarter. Driehaus Capital Management LLC owned approximately 1.18% of GeneDx worth $24,973,000 at the end of the most recent quarter.

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

GeneDx Stock Performance

NASDAQ WGS traded down $0.14 during midday trading on Wednesday, hitting $60.79. The company had a trading volume of 722,318 shares, compared to its average volume of 1,175,667. GeneDx Holdings Corp. has a fifty-two week low of $19.16 and a fifty-two week high of $117.75. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -31.02 and a beta of 1.96. The firm has a fifty day simple moving average of $88.77 and a two-hundred day simple moving average of $82.83. 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 announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, beating 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 analyst estimates of $79.90 million. Equities analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Keith A. Meister bought 100,000 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were purchased at an average price of $56.01 per share, with a total value of $5,601,000.00. Following the completion of the purchase, the director now owns 3,008,629 shares in the company, valued at $168,513,310.29. This represents a 3.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kevin Feeley sold 388 shares of the company's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $113.09, for a total value of $43,878.92. Following the completion of the transaction, the chief financial officer now directly owns 3,337 shares of the company's stock, valued at approximately $377,381.33. The trade was a 10.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 139,390 shares of company stock worth $13,043,288 over the last ninety days. Company insiders own 27.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on WGS shares. Wells Fargo & Company lowered 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 report on Thursday, May 1st. Jefferies Financial Group raised shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research report on Friday, May 9th. Finally, The Goldman Sachs Group raised their price objective 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to 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.