Castleark Management LLC Acquires New Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

Castleark Management LLC purchased a new position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 61,710 shares of the company's stock, valued at approximately $4,743,000. Castleark Management LLC owned approximately 0.22% of GeneDx at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of WGS. Envestnet Asset Management Inc. bought a new stake in shares of GeneDx in the 4th quarter worth approximately $380,000. Prudential Financial Inc. purchased a new stake in shares of GeneDx during the fourth quarter valued at $7,938,000. Voya Investment Management LLC bought a new position in GeneDx during the fourth quarter valued at approximately $292,000. JPMorgan Chase & Co. boosted its stake in shares of GeneDx by 617.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 52,161 shares of the company's stock worth $2,214,000 after buying an additional 44,889 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in GeneDx in the fourth quarter valued at about $20,371,000. Hedge funds and other institutional investors own 61.72% of the company's stock.

Wall Street Analyst Weigh In

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

GeneDx Stock Performance

WGS traded up $0.32 during trading on Tuesday, hitting $71.92. 277,445 shares of the stock were exchanged, compared to its average volume of 766,648. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. GeneDx Holdings Corp. has a 1-year low of $19.54 and a 1-year high of $117.75. The stock has a fifty day moving average price of $84.28 and a two-hundred day moving average price of $82.37. The firm has a market capitalization of $2.05 billion, a P/E ratio of -36.63 and a beta of 1.96.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.17. The firm had revenue of $87.12 million for the quarter, compared to analyst estimates of $79.90 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. As a group, sell-side analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Katherine Stueland sold 2,731 shares of the business's 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 completion of the sale, the chief executive officer now directly 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin Feeley sold 922 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $94.72, for a total value of $87,331.84. Following the completion of the transaction, the chief financial officer now directly owns 5,446 shares in the company, valued at $515,845.12. This trade represents a 14.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 139,390 shares of company stock valued at $13,043,288. 29.60% of the stock is owned by insiders.

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.