Chung Wu Investment Group LLC purchased a new stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,050 shares of the company's stock, valued at approximately $270,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WGS. Sterling Capital Management LLC raised its stake 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 purchasing an additional 316 shares during the last quarter. Global Retirement Partners LLC purchased a new position in GeneDx during the fourth quarter valued at approximately $28,000. Lazard Asset Management LLC purchased a new position in GeneDx during the fourth quarter valued at approximately $35,000. GAMMA Investing LLC raised its position in GeneDx by 151.7% during the first quarter. GAMMA Investing LLC now owns 438 shares of the company's stock valued at $39,000 after acquiring an additional 264 shares in the last quarter. Finally, Comerica Bank purchased a new position in GeneDx during the fourth quarter valued at approximately $50,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at GeneDx
In other news, CFO Kevin Feeley sold 388 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $113.09, for a total value of $43,878.92. Following the transaction, the chief financial officer now owns 3,337 shares of the company's stock, valued at $377,381.33. This represents a 10.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Katherine Stueland sold 46,594 shares of the company's stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $89.62, for a total value of $4,175,754.28. Following the completion of the transaction, the chief executive officer now directly owns 1,720 shares in the company, valued at approximately $154,146.40. This trade represents a 96.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,022 shares of company stock valued at $5,919,860 over the last ninety days. Insiders own 29.60% of the company's stock.
Analyst Ratings Changes
WGS has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. TD Securities dropped their price objective on GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Jefferies Financial Group raised GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a report on Friday, May 9th. Wall Street Zen lowered GeneDx from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Guggenheim began coverage on GeneDx in a report on Thursday, May 15th. They issued a "buy" rating and a $88.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $86.75.
Read Our Latest Stock Report on WGS
GeneDx Price Performance
Shares of NASDAQ:WGS traded up $1.51 during trading on Friday, reaching $91.10. The stock had a trading volume of 1,884,061 shares, compared to its average volume of 815,599. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.07 and a current ratio of 3.25. The business has a fifty day moving average price of $74.52 and a 200-day moving average price of $81.96. The stock has a market cap of $2.60 billion, a PE ratio of -64.61 and a beta of 1.94. GeneDx Holdings Corp. has a 1-year low of $25.32 and a 1-year high of $117.75.
GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.17. The firm had revenue of $87.12 million for the quarter, compared to analyst estimates of $79.90 million. GeneDx had a positive return on equity of 10.17% and a negative net margin of 11.69%. On average, equities analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.
GeneDx Profile
(
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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