Harbor Capital Advisors Inc. purchased a new stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 15,937 shares of the company's stock, valued at approximately $1,411,000. Harbor Capital Advisors Inc. owned about 0.06% of GeneDx as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Sterling Capital Management LLC lifted its position in GeneDx by 877.8% in the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after buying an additional 316 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of GeneDx in the 4th quarter valued at approximately $28,000. Lazard Asset Management LLC purchased a new stake in shares of GeneDx in the 4th quarter valued at approximately $35,000. Comerica Bank acquired a new position in shares of GeneDx in the 4th quarter worth approximately $50,000. Finally, Quarry LP acquired 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 Analyst Weigh In
Several research firms recently weighed in on WGS. Guggenheim began coverage on shares of GeneDx in a report on Thursday, May 15th. They issued a "buy" rating and a $88.00 target price for the company. TD Securities lowered their price target on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Jefferies Financial Group raised GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research note on Friday, May 9th. Wells Fargo & Company decreased their target price on GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group raised their target price on GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.75.
Read Our Latest Analysis on WGS
GeneDx Stock Down 2.7%
Shares of GeneDx stock traded down $1.80 during trading hours on Friday, reaching $64.57. 491,417 shares of the company were exchanged, compared to its average volume of 781,141. The firm has a market cap of $1.84 billion, a PE ratio of -32.94 and a beta of 1.94. The stock's fifty day moving average is $78.86 and its 200 day moving average is $81.96. GeneDx Holdings Corp. has a 1 year low of $24.91 and a 1 year high of $117.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40.
GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.17. The company had revenue of $87.12 million for the quarter, compared to the consensus estimate of $79.90 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. As a group, equities research analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.
Insider Buying and Selling at GeneDx
In other news, CFO Kevin Feeley sold 370 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $71.26, for a total transaction of $26,366.20. Following the completion of the transaction, the chief financial officer now directly owns 4,105 shares of the company's stock, valued at approximately $292,522.30. This represents a 8.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Keith A. Meister bought 100,000 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were acquired at an average cost of $56.01 per share, for a total transaction of $5,601,000.00. Following the transaction, the director now directly owns 3,008,629 shares in the company, valued at approximately $168,513,310.29. This represents a 3.44% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 134,627 shares of company stock valued at $12,590,999. Insiders own 29.60% of the company's stock.
About GeneDx
(
Free Report)
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.
Read More
Before you consider GeneDx, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GeneDx wasn't on the list.
While GeneDx currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
