Alliancebernstein L.P. Boosts Stock Holdings in GeneDx Holdings Corp. $WGS

Key Points

• Alliancebernstein L.P. significantly increased its stake in GeneDx Holdings Corp. by 3,054.5% during the first quarter, owning 436,900 shares valued at approximately $38.7 million.
• In recent insider transactions, director Jason Ryan sold 38,072 shares at $127.30 per share, marking a 26.93% decrease in his position, while CFO Kevin Feeley also sold 5,278 shares.
• GeneDx shares increased by 2.2% following its earnings report where it surpassed estimates with earnings per share of $0.50, compared to the expected $0.10.

Alliancebernstein L.P. grew its holdings in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 3,054.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 436,900 shares of the company's stock after purchasing an additional 423,050 shares during the quarter. Alliancebernstein L.P. owned about 1.53% of GeneDx worth $38,694,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in GeneDx by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 1,031,326 shares of the company's stock worth $91,339,000 after purchasing an additional 25,116 shares in the last quarter. Summit Partners Public Asset Management LLC lifted its stake in GeneDx by 336.9% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock worth $58,073,000 after purchasing an additional 582,619 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of GeneDx during the 1st quarter valued at approximately $44,614,000. Zweig DiMenna Associates LLC raised its position in shares of GeneDx by 47.7% during the 1st quarter. Zweig DiMenna Associates LLC now owns 457,100 shares of the company's stock valued at $40,483,000 after buying an additional 147,600 shares during the period. Finally, Driehaus Capital Management LLC raised its position in shares of GeneDx by 40.0% during the 1st quarter. Driehaus Capital Management LLC now owns 454,956 shares of the company's stock valued at $40,293,000 after buying an additional 130,038 shares during the period. 61.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wall Street Zen raised shares of GeneDx from a "hold" rating to a "buy" rating in a research report 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 report on Wednesday, July 30th. Guggenheim reiterated a "buy" rating and issued a $115.00 target price (up previously from $88.00) on shares of GeneDx in a report on Monday, June 30th. Finally, Piper Sandler lifted their target price on shares of GeneDx from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $104.13.

Insider Buying and Selling at GeneDx

In other news, CEO Katherine Stueland sold 2,154 shares of the company's stock in a transaction dated 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 directly owned 3,440 shares of the company's stock, valued at approximately $362,266.40. This represents a 38.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Casdin Capital, Llc sold 500,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $120.90, for a total transaction of $60,450,000.00. Following the completion of the sale, the director directly owned 3,007,164 shares of the company's stock, valued at $363,566,127.60. The trade was a 14.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 561,641 shares of company stock valued at $67,551,904 over the last ninety days. 29.60% of the stock is currently owned by corporate insiders.

GeneDx Stock Down 0.8%

Shares of WGS stock traded down $1.05 on Friday, reaching $124.84. 170,261 shares of the stock were exchanged, compared to its average volume of 1,018,118. The company has a current ratio of 2.87, a quick ratio of 2.70 and a debt-to-equity ratio of 0.19. The business's 50 day moving average price is $106.99 and its 200 day moving average price is $91.80. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 2,499.70 and a beta of 2.04. GeneDx Holdings Corp. has a twelve month low of $35.88 and a twelve month high of $136.00.

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

About GeneDx

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.