34,407 Shares in GeneDx Holdings Corp. (NASDAQ:WGS) Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. acquired a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 34,407 shares of the company's stock, valued at approximately $2,645,000. Ameriprise Financial Inc. owned about 0.13% of GeneDx as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in WGS. SG Americas Securities LLC grew its position in GeneDx by 87.2% during the fourth quarter. SG Americas Securities LLC now owns 8,735 shares of the company's stock valued at $671,000 after acquiring an additional 4,068 shares during the last quarter. PFG Investments LLC bought a new stake in shares of GeneDx in the 4th quarter worth approximately $252,000. Allspring Global Investments Holdings LLC boosted its stake in shares of GeneDx by 50,832.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 90,151 shares of the company's stock valued at $7,179,000 after purchasing an additional 89,974 shares in the last quarter. Legato Capital Management LLC grew its holdings in shares of GeneDx by 88.0% during the 4th quarter. Legato Capital Management LLC now owns 27,691 shares of the company's stock valued at $2,128,000 after purchasing an additional 12,961 shares during the last quarter. Finally, Rhumbline Advisers raised its position in GeneDx by 5.5% in the 4th quarter. Rhumbline Advisers now owns 19,750 shares of the company's stock worth $1,518,000 after purchasing an additional 1,021 shares during the period. Institutional investors own 61.72% of the company's stock.

Insiders Place Their Bets

In related news, CEO Katherine Stueland sold 2,731 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $94.73, for a total transaction of $258,707.63. Following the transaction, the chief executive officer now owns 7,752 shares in the company, valued at $734,346.96. The trade was a 26.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Keith A. Meister purchased 100,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was bought at an average cost of $56.01 per share, with a total value of $5,601,000.00. Following the completion of the purchase, the director now owns 3,008,629 shares of the company's stock, valued at $168,513,310.29. This represents 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 sold 139,390 shares of company stock worth $13,043,288. 29.60% of the stock is currently owned by company insiders.

GeneDx Trading Up 1.0%

Shares of WGS stock traded up $0.73 during mid-day trading on Friday, reaching $70.71. The stock had a trading volume of 626,360 shares, compared to its average volume of 770,241. The firm has a market capitalization of $2.02 billion, a PE ratio of -36.08 and a beta of 1.96. The stock's 50-day moving average price is $81.79 and its two-hundred day moving average price is $82.13. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. GeneDx Holdings Corp. has a 52-week low of $19.54 and a 52-week high of $117.75.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.17. The company had revenue of $87.12 million for the quarter, compared to analysts' expectations of $79.90 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. Equities analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WGS has been the subject of several analyst reports. Jefferies Financial Group upgraded shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research report on Friday, May 9th. Wells Fargo & Company lowered their target price on GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group increased their target price on GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Guggenheim initiated coverage on GeneDx in a research report on Thursday, May 15th. They set a "buy" rating and a $88.00 price target on the stock. Finally, TD Securities lowered their price objective on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, GeneDx presently has an average rating of "Moderate Buy" and a consensus price target of $86.75.

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.