57,637 Shares in GeneDx Holdings Corp. (NASDAQ:WGS) Acquired by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust bought a new stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 57,637 shares of the company's stock, valued at approximately $4,430,000. Emerald Mutual Fund Advisers Trust owned approximately 0.21% of GeneDx as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of WGS. William Blair Investment Management LLC purchased a new stake in GeneDx in the fourth quarter worth $51,496,000. Lord Abbett & CO. LLC bought a new stake in GeneDx in the 4th quarter valued at about $48,458,000. Science & Technology Partners L.P. purchased a new position in GeneDx in the 4th quarter valued at approximately $30,821,000. Zweig DiMenna Associates LLC bought a new stake in GeneDx during the 4th quarter valued at $23,788,000. Finally, Raymond James Financial Inc. bought a new position in shares of GeneDx in the fourth quarter worth $20,371,000. Hedge funds and other institutional investors own 61.72% of the company's stock.

Analyst Ratings Changes

WGS has been the subject of several analyst reports. Wells Fargo & Company cut their target price on GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a research note on Thursday. TD Securities reduced their price objective on GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday. TD Cowen upped their price target on GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group boosted their target price on shares of GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, GeneDx presently has a consensus rating of "Moderate Buy" and an average price target of $78.14.

GeneDx Price Performance

Shares of NASDAQ WGS traded up $4.91 during midday trading on Friday, reaching $67.23. The stock had a trading volume of 2,456,763 shares, compared to its average volume of 717,912. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -34.30 and a beta of 1.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The stock has a 50-day moving average of $94.88 and a 200-day moving average of $82.52. GeneDx Holdings Corp. has a 12-month low of $18.80 and a 12-month high of $117.75.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share 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. As a group, research analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Activity

In other GeneDx news, CFO Kevin Feeley sold 388 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $113.09, for a total transaction of $43,878.92. Following the transaction, the chief financial officer now directly owns 3,337 shares in the company, valued at $377,381.33. This trade represents a 10.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Katherine Stueland sold 2,154 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $113.09, for a total value of $243,595.86. Following the sale, the chief executive officer now owns 3,440 shares of the company's stock, valued at approximately $389,029.60. This represents a 38.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 139,390 shares of company stock valued at $13,043,288. 27.30% of the stock is currently owned by insiders.

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.