Chung Wu Investment Group LLC Makes New $270,000 Investment in GeneDx Holdings Corp. (NASDAQ:WGS)

Chung Wu Investment Group LLC acquired a new stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,050 shares of the company's stock, valued at approximately $270,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of 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 period. Sterling Capital Management LLC grew its position in GeneDx by 877.8% during the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after buying an additional 316 shares in the last quarter. Global Retirement Partners LLC bought a new position in GeneDx during the 4th quarter worth $28,000. MetLife Investment Management LLC raised its holdings in GeneDx by 6.2% in the 4th quarter. MetLife Investment Management LLC now owns 7,750 shares of the company's stock valued at $596,000 after acquiring an additional 453 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of GeneDx during the 4th quarter worth $35,000. Institutional investors and hedge funds own 61.72% of the company's stock.

GeneDx Trading Down 2.2%

Shares of WGS stock opened at $88.93 on Thursday. GeneDx Holdings Corp. has a twelve month low of $24.91 and a twelve month high of $117.75. The stock's fifty day simple moving average is $74.73 and its 200 day simple moving average is $81.59. The company has a quick ratio of 3.07, a current ratio of 3.25 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $2.54 billion, a P/E ratio of -63.07 and a beta of 1.94.

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 the consensus estimate of $0.11 by $0.17. GeneDx had a positive return on equity of 10.17% and a negative net margin of 11.69%. The company had revenue of $87.12 million for the quarter, compared to analysts' expectations of $79.90 million. As a group, sell-side analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WGS. TD Securities dropped their price target on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wall Street Zen lowered shares of GeneDx from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Wells Fargo & Company lowered their price objective on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Jefferies Financial Group upgraded 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. Finally, Guggenheim assumed coverage on GeneDx in a research note on Thursday, May 15th. They issued a "buy" rating and a $88.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.75.

Insiders Place Their Bets

In related news, Director Keith A. Meister acquired 100,000 shares of GeneDx stock in a transaction dated Thursday, May 8th. The stock was bought at an average price of $56.01 per share, with a total value of $5,601,000.00. Following the transaction, the director now directly owns 3,008,629 shares in the company, valued at $168,513,310.29. This represents a 3.44% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kevin Feeley sold 370 shares of GeneDx stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $71.26, for a total transaction of $26,366.20. Following the completion of the sale, the chief financial officer now owns 4,105 shares of the company's stock, valued at $292,522.30. This represents a 8.27% 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 in the last ninety days. 29.60% of the stock is currently owned by insiders.

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.

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