Nuveen LLC Makes New Investment in GeneDx Holdings Corp. $WGS

Key Points

• Nuveen LLC has acquired 197,912 shares of GeneDx Holdings Corp. ($WGS) valued at approximately $17.53 million, representing around 0.71% of the company's total shares at the end of the reporting period.
• Wall Street analysts are optimistic about GeneDx, with several upgrades leading to a consensus price target of $101.63 and a "Moderate Buy" rating.
• Recent insider sales, including those by the CEO and CFO, indicate a decrease in their ownership stakes, with insiders selling a total of 22,411 shares worth over $2 million in the past three months.

Nuveen LLC bought a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 197,912 shares of the company's stock, valued at approximately $17,528,000. Nuveen LLC owned approximately 0.71% of GeneDx at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in GeneDx during the first quarter valued at $321,000. Invesco Ltd. boosted its stake in shares of GeneDx by 52.6% during the 1st quarter. Invesco Ltd. now owns 389,579 shares of the company's stock worth $34,503,000 after acquiring an additional 134,228 shares in the last quarter. Swiss National Bank boosted its stake in shares of GeneDx by 34.0% during the 1st quarter. Swiss National Bank now owns 31,900 shares of the company's stock worth $2,825,000 after acquiring an additional 8,100 shares in the last quarter. Telemark Asset Management LLC acquired a new stake in shares of GeneDx during the 1st quarter valued at about $8,856,000. Finally, Vanguard Group Inc. increased its stake in shares of GeneDx by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 1,031,326 shares of the company's stock valued at $91,339,000 after purchasing an additional 25,116 shares in the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GeneDx

In related news, Director Casdin Capital, Llc sold 500,000 shares of GeneDx stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $120.90, for a total transaction of $60,450,000.00. Following the transaction, the director owned 3,007,164 shares in the company, valued at approximately $363,566,127.60. This trade represents a 14.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Katherine Stueland sold 2,154 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $105.31, for a total value of $226,837.74. Following the completion of the sale, the chief executive officer owned 3,440 shares of the company's stock, valued at approximately $362,266.40. The trade was a 38.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 522,411 shares of company stock valued at $62,535,051. 29.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

WGS has been the topic of a number of recent analyst reports. Piper Sandler set a $120.00 price target on GeneDx and gave the stock an "overweight" rating in a research report on Monday, August 4th. Wall Street Zen raised GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Wells Fargo & Company lifted their price target on shares of GeneDx from $78.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. TD Securities cut their price target 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. Finally, Guggenheim reaffirmed a "buy" rating and set a $115.00 price objective (up from $88.00) on shares of GeneDx in a report on Monday, June 30th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $101.63.

GeneDx Price Performance

Shares of NASDAQ WGS traded up $7.94 during mid-day trading on Friday, reaching $128.66. The company's stock had a trading volume of 1,676,175 shares, compared to its average volume of 1,043,752. The stock has a 50-day moving average of $93.85 and a two-hundred day moving average of $87.35. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.70 and a current ratio of 2.87. The stock has a market capitalization of $3.70 billion, a P/E ratio of 2,573.20 and a beta of 2.02. GeneDx Holdings Corp. has a 1-year low of $28.86 and a 1-year high of $130.33.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.40. The company had revenue of $102.69 million during the quarter, compared to analysts' expectations of $86.00 million. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. GeneDx has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

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.