GeneDx Holdings Corp. (NASDAQ:WGS) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 111.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 190,297 shares of the company's stock after acquiring an additional 100,146 shares during the period. Allspring Global Investments Holdings LLC owned about 0.68% of GeneDx worth $16,097,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Chung Wu Investment Group LLC acquired a new position in GeneDx in the first quarter valued at approximately $270,000. PFG Investments LLC boosted its holdings in GeneDx by 48.9% in the first quarter. PFG Investments LLC now owns 4,874 shares of the company's stock valued at $432,000 after purchasing an additional 1,600 shares during the period. SG Americas Securities LLC raised its position in GeneDx by 19.6% in the 1st quarter. SG Americas Securities LLC now owns 10,451 shares of the company's stock valued at $926,000 after purchasing an additional 1,716 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of GeneDx by 151.7% in the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock valued at $39,000 after buying an additional 264 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in GeneDx in the first quarter valued at approximately $1,411,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on WGS shares. Jefferies Financial Group upgraded 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. Guggenheim reiterated a "buy" rating and set a $115.00 target price (up previously from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Wells Fargo & Company decreased their price objective on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. TD Securities dropped their target price 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, Wall Street Zen upgraded GeneDx from a "hold" rating to a "buy" rating in a report on Saturday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, GeneDx presently has an average rating of "Moderate Buy" and a consensus target price of $90.13.

Insider Activity

In related news, CFO Kevin Feeley sold 15,516 shares of the firm's stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $92.18, for a total transaction of $1,430,264.88. Following the sale, the chief financial officer directly owned 1,726 shares in the company, valued at approximately $159,102.68. This trade represents a 89.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Keith A. Meister acquired 100,000 shares of the company's stock in a transaction on Thursday, May 8th. The shares were acquired at an average price of $56.01 per share, for a total transaction of $5,601,000.00. Following the completion of the acquisition, the director directly owned 3,008,629 shares in the company, valued at $168,513,310.29. The trade was a 3.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 76,023 shares of company stock valued at $6,920,533. Company insiders own 29.60% of the company's stock.

GeneDx Price Performance

GeneDx stock traded up $1.82 during midday trading on Friday, reaching $91.61. 328,245 shares of the company were exchanged, compared to its average volume of 818,379. GeneDx Holdings Corp. has a 1 year low of $25.32 and a 1 year high of $117.75. The firm's 50-day simple moving average is $73.36 and its 200-day simple moving average is $82.39. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -64.97 and a beta of 2.01. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.07 and a current ratio of 3.25.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.17. GeneDx had a negative net margin of 11.69% and a positive return on equity of 10.17%. The company had revenue of $87.12 million during the quarter, compared to the consensus estimate of $79.90 million. On average, analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current 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.