Envestnet Asset Management Inc. Buys Shares of 4,941 GeneDx Holdings Corp. (NASDAQ:WGS)

Envestnet Asset Management Inc. acquired a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,941 shares of the company's stock, valued at approximately $380,000.

A number of other hedge funds also recently bought and sold shares of the business. Barclays PLC increased its holdings in shares of GeneDx by 346.3% during the 3rd quarter. Barclays PLC now owns 18,921 shares of the company's stock worth $803,000 after buying an additional 14,681 shares during the last quarter. Prudential Financial Inc. acquired a new stake in GeneDx during the fourth quarter worth $7,938,000. JPMorgan Chase & Co. increased its stake in GeneDx by 617.3% during the third quarter. JPMorgan Chase & Co. now owns 52,161 shares of the company's stock worth $2,214,000 after acquiring an additional 44,889 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in GeneDx during the third quarter worth $604,000. Finally, Raymond James Financial Inc. acquired a new stake in GeneDx during the fourth quarter worth $20,371,000. Institutional investors and hedge funds own 61.72% of the company's stock.

Insider Activity

In related news, CFO Kevin Feeley sold 402 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $90.05, for a total value of $36,200.10. Following the completion of the transaction, the chief financial officer now owns 5,044 shares of the company's stock, valued at approximately $454,212.20. This represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Katherine Stueland sold 46,594 shares of the stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $89.62, for a total value of $4,175,754.28. Following the completion of the transaction, the chief executive officer now directly owns 1,720 shares of the company's stock, valued at $154,146.40. This represents a 96.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 139,390 shares of company stock worth $13,043,288 over the last 90 days. Company insiders own 27.30% of the company's stock.

GeneDx Price Performance

Shares of WGS stock traded up $2.57 during mid-day trading on Friday, reaching $58.93. The stock had a trading volume of 1,575,298 shares, compared to its average volume of 738,880. 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 $1.65 billion, a P/E ratio of -30.07 and a beta of 1.96. The business has a 50-day simple moving average of $90.42 and a 200 day simple moving average of $82.98. The company has a current ratio of 2.40, a quick ratio of 2.27 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 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.17. The business had revenue of $87.12 million for the quarter, compared to analyst estimates of $79.90 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. On average, sell-side analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wells Fargo & Company reduced their price objective 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. 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 report on Thursday, May 1st. The Goldman Sachs Group upped their price objective on shares of GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research report on Friday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $86.57.

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.