Harbor Capital Advisors Inc. Takes $1.41 Million Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Harbor Capital Advisors Inc. purchased a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,937 shares of the company's stock, valued at approximately $1,411,000. Harbor Capital Advisors Inc. owned 0.06% of GeneDx as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of GeneDx by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company's stock valued at $77,337,000 after acquiring an additional 156,768 shares in the last quarter. Summit Partners Public Asset Management LLC grew its holdings in shares of GeneDx by 336.9% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock valued at $58,073,000 after buying an additional 582,619 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of GeneDx during the fourth quarter valued at $51,496,000. Lord Abbett & CO. LLC purchased a new stake in GeneDx in the fourth quarter valued at $48,458,000. Finally, Fred Alger Management LLC boosted its holdings in GeneDx by 38.5% in the fourth quarter. Fred Alger Management LLC now owns 546,054 shares of the company's stock valued at $41,970,000 after purchasing an additional 151,824 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company's stock.

GeneDx Trading Up 3.6%

Shares of WGS traded up $2.32 during midday trading on Monday, hitting $66.89. The stock had a trading volume of 744,448 shares, compared to its average volume of 785,373. GeneDx Holdings Corp. has a fifty-two week low of $24.91 and a fifty-two week high of $117.75. The business has a 50-day simple moving average of $78.05 and a two-hundred day simple moving average of $81.81. The firm has a market cap of $1.91 billion, a P/E ratio of -34.13 and a beta of 1.94. 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 earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $79.90 million. As a group, equities analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Transactions at GeneDx

In related news, CFO Kevin Feeley sold 370 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $71.26, for a total value of $26,366.20. Following the sale, the chief financial officer now directly owns 4,105 shares in the company, valued at $292,522.30. This trade represents a 8.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Katherine Stueland sold 2,154 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $113.09, for a total transaction of $243,595.86. Following the completion of the sale, the chief executive officer now owns 3,440 shares in the company, valued at $389,029.60. This represents a 38.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,319 shares of company stock valued at $11,207,272. 29.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on WGS. TD Securities cut their price objective on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Guggenheim initiated coverage on GeneDx in a report on Thursday, May 15th. They issued a "buy" rating and a $88.00 target price for the company. Jefferies Financial Group raised shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research report on Friday, May 9th. Wells Fargo & Company reduced their price target on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group lifted their price objective on shares of GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $86.75.

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.