Ensign Peak Advisors Inc Purchases New Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Ensign Peak Advisors Inc bought a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 26,900 shares of the company's stock, valued at approximately $2,068,000. Ensign Peak Advisors Inc owned about 0.10% of GeneDx at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on WGS shares. Jefferies Financial Group upgraded shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a report on Friday, May 9th. The Goldman Sachs Group raised their price target on GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. TD Securities cut 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, May 1st. Guggenheim began coverage on GeneDx in a research report on Thursday. They set a "buy" rating and a $88.00 target price for the company. Finally, Wells Fargo & Company cut their price target on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, GeneDx presently has a consensus rating of "Moderate Buy" and an average price target of $86.75.

GeneDx Stock Up 4.0%

Shares of NASDAQ WGS traded up $2.71 during mid-day trading on Monday, reaching $71.02. 1,640,880 shares of the company were exchanged, compared to its average volume of 757,598. The firm has a 50-day moving average of $87.10 and a 200 day moving average of $82.61. GeneDx Holdings Corp. has a 1 year low of $19.16 and a 1 year high of $117.75. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -36.23 and a beta of 1.96.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $87.12 million during the quarter, compared to the consensus estimate of $79.90 million. On average, research analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insiders Place Their Bets

In other GeneDx news, CEO Katherine Stueland sold 2,731 shares of GeneDx stock in a transaction on Monday, March 10th. The shares were sold at an average price of $94.73, for a total transaction of $258,707.63. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Keith A. Meister purchased 100,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average price of $56.01 per share, for a total transaction of $5,601,000.00. Following the completion of the transaction, the director now directly owns 3,008,629 shares of the company's stock, valued at $168,513,310.29. The trade was a 3.44% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 139,390 shares of company stock valued at $13,043,288. Insiders own 29.60% of the company's stock.

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.