American Century Companies Inc. Makes New $23.88 Million Investment in GeneDx Holdings Corp. $WGS

Key Points

• American Century Companies Inc. has acquired 269,602 shares of GeneDx Holdings Corp. ($WGS) worth approximately $23.88 million, holding about 0.96% of the company as of their latest SEC filing.
• GeneDx reported a net margin of 0.39% and earnings per share of $0.50 for the latest quarter, exceeding analysts' expectations of $0.10.
• Multiple analysts have set new price targets for GeneDx, with Piper Sandler giving an "overweight" rating and a target of $120, while Wells Fargo raised their target to $95.

American Century Companies Inc. acquired a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 269,602 shares of the company's stock, valued at approximately $23,877,000. American Century Companies Inc. owned about 0.96% of GeneDx as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in GeneDx by 151.7% during the first 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 raised its holdings in shares of GeneDx by 0.4% in the first quarter. Palisades Investment Partners LLC now owns 83,913 shares of the company's stock worth $7,432,000 after acquiring an additional 309 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of GeneDx by 877.8% in the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after acquiring an additional 316 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of GeneDx by 6.2% in the fourth quarter. MetLife Investment Management LLC now owns 7,750 shares of the company's stock worth $596,000 after acquiring an additional 453 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of GeneDx in the fourth quarter worth $35,000. 61.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. TD Securities cut their price target on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company boosted their price target on GeneDx from $78.00 to $95.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Guggenheim reissued a "buy" rating and issued a $115.00 price target (up from $88.00) on shares of GeneDx in a report on Monday, June 30th. 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 report on Friday, May 9th. Finally, Piper Sandler set a $120.00 price target on GeneDx and gave the stock an "overweight" rating in a report on Monday, August 4th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.63.

GeneDx Trading Up 2.2%

Shares of NASDAQ:WGS traded up $2.77 during midday trading on Wednesday, reaching $129.02. The company's stock had a trading volume of 281,849 shares, compared to its average volume of 1,055,300. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 2,584.20 and a beta of 2.02. The company has a quick ratio of 2.70, a current ratio of 2.87 and a debt-to-equity ratio of 0.19. GeneDx Holdings Corp. has a 1 year low of $28.86 and a 1 year high of $130.34. The business has a 50 day moving average price of $96.19 and a 200 day moving average price of $88.37.

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

Insiders Place Their Bets

In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $105.31, for a total transaction of $226,837.74. Following the completion of the sale, the chief executive officer directly owned 3,440 shares in the company, valued at $362,266.40. This represents a 38.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevin Feeley sold 388 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $105.31, for a total value of $40,860.28. Following the sale, the chief financial officer owned 3,757 shares of the company's stock, valued at $395,649.67. This represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 522,411 shares of company stock worth $62,535,051 over the last three months. 29.60% of the stock is owned by insiders.

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.