Alliancebernstein L.P. Buys 423,050 Shares of 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. raised its position 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 SEC. The fund owned 436,900 shares of the company's stock after buying an additional 423,050 shares during the period. Alliancebernstein L.P. owned about 1.53% of GeneDx worth $38,694,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of GeneDx by 151.7% in the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after purchasing an additional 264 shares during the last quarter. Palisades Investment Partners LLC boosted its position in shares of GeneDx by 0.4% in the 1st quarter. Palisades Investment Partners LLC now owns 83,913 shares of the company's stock worth $7,432,000 after purchasing an additional 309 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of GeneDx in the 4th quarter worth $35,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of GeneDx by 7.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,188 shares of the company's stock worth $552,000 after purchasing an additional 515 shares during the last quarter. Finally, US Bancorp DE boosted its position in shares of GeneDx by 3,223.5% in the 1st quarter. US Bancorp DE now owns 565 shares of the company's stock worth $50,000 after purchasing an additional 548 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Casdin Capital, Llc sold 500,000 shares of GeneDx stock in a transaction dated 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jason Ryan sold 38,072 shares of GeneDx stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $127.30, for a total value of $4,846,565.60. Following the transaction, the director owned 103,284 shares of the company's stock, valued at $13,148,053.20. The trade was a 26.93% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 561,641 shares of company stock worth $67,551,904. Company insiders own 29.60% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on WGS shares. Wells Fargo & Company lifted their target price on GeneDx from $78.00 to $95.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Piper Sandler lifted their target price on GeneDx from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday. Guggenheim reiterated a "buy" rating and set a $115.00 target price (up from $88.00) on shares of GeneDx in a report on Monday, June 30th. Finally, Wall Street Zen upgraded GeneDx from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $104.13.

GeneDx Stock Down 1.5%

Shares of NASDAQ:WGS traded down $1.94 during midday trading on Friday, reaching $123.95. The company had a trading volume of 311,861 shares, compared to its average volume of 597,576. The company has a quick ratio of 2.70, a current ratio of 2.87 and a debt-to-equity ratio of 0.19. The business's 50 day moving average price is $107.63 and its 200 day moving average price is $91.94. The stock has a market cap of $3.56 billion, a PE ratio of 2,479.00 and a beta of 2.04. GeneDx Holdings Corp. has a 1-year low of $35.88 and a 1-year high of $136.00.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.40. GeneDx had a return on equity of 16.51% and a net margin of 0.39%.The business 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. Research analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

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.