Bank of America Corp DE decreased its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 40.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,402 shares of the company's stock after selling 16,551 shares during the quarter. Bank of America Corp DE owned 0.09% of GeneDx worth $1,876,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in shares of GeneDx during the fourth quarter worth about $4,349,000. Ameriprise Financial Inc. acquired a new position in GeneDx in the fourth quarter valued at approximately $2,645,000. Freestone Grove Partners LP acquired a new position in GeneDx in the fourth quarter valued at approximately $445,000. Comerica Bank acquired a new position in GeneDx in the fourth quarter valued at approximately $50,000. Finally, Regal Partners Ltd acquired a new position in GeneDx in the fourth quarter valued at approximately $769,000. Institutional investors and hedge funds own 61.72% of the company's stock.
Analyst Upgrades and Downgrades
WGS has been the subject of a number of analyst reports. Guggenheim began coverage on GeneDx in a report on Thursday, May 15th. They issued a "buy" rating and a $88.00 price target for the company. The Goldman Sachs Group upped their target price on GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Wells Fargo & Company reduced 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. TD Securities reduced their target price on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Jefferies Financial Group raised GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $86.75.
Read Our Latest Analysis on WGS
GeneDx Price Performance
Shares of WGS traded down $3.21 during trading hours on Thursday, hitting $69.18. 817,796 shares of the stock were exchanged, compared to its average volume of 772,464. The company has a market cap of $1.97 billion, a price-to-earnings ratio of -35.30 and a beta of 1.96. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. GeneDx Holdings Corp. has a 12-month low of $23.88 and a 12-month high of $117.75. The stock's 50-day moving average price is $80.52 and its two-hundred day moving average price is $82.12.
GeneDx (NASDAQ:WGS - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.17. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The business had revenue of $87.12 million during the quarter, compared to analysts' expectations of $79.90 million. Research analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.
Insider Buying and Selling at GeneDx
In other news, Director Keith A. Meister purchased 100,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average price of $56.01 per share, for a total transaction of $5,601,000.00. Following the purchase, the director now directly owns 3,008,629 shares of the company's stock, valued at $168,513,310.29. This represents a 3.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Feeley sold 922 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $94.72, for a total value of $87,331.84. Following the transaction, the chief financial officer now owns 5,446 shares in the company, valued at $515,845.12. This represents a 14.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 139,760 shares of company stock valued at $13,069,654 in the last quarter. Corporate insiders own 29.60% of the company's stock.
GeneDx Profile
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Free Report)
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.
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