GeneDx Holdings Corp. $WGS Shares Bought by Comerica Bank

Key Points

• Comerica Bank significantly increased its stake in GeneDx Holdings Corp. by 2,271% during the 1st quarter, owning 15,388 shares valued at approximately $1.36 million.
• GeneDx reported earnings of $0.50 per share for the quarter, exceeding analyst expectations of $0.10, with revenue reaching $102.69 million.
• Several analysts have upgraded their ratings on GeneDx, with price targets now ranging from $80 to $120, reflecting a consensus rating of "Moderate Buy".

Comerica Bank boosted its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 2,271.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,388 shares of the company's stock after acquiring an additional 14,739 shares during the period. Comerica Bank owned about 0.05% of GeneDx worth $1,363,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. purchased a new stake in shares of GeneDx in the fourth quarter worth approximately $2,645,000. Raymond James Financial Inc. lifted its stake in shares of GeneDx by 25.8% in the first quarter. Raymond James Financial Inc. now owns 333,376 shares of the company's stock worth $29,525,000 after acquiring an additional 68,331 shares during the period. Voya Investment Management LLC bought a new stake in GeneDx during the fourth quarter worth $292,000. GAMMA Investing LLC increased its position in shares of GeneDx by 22,194.3% during the 1st quarter. GAMMA Investing LLC now owns 38,792 shares of the company's stock valued at $3,436,000 after purchasing an additional 38,618 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in GeneDx by 111.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 190,297 shares of the company's stock valued at $16,097,000 after buying an additional 100,146 shares in the last quarter. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

GeneDx Stock Down 2.0%

WGS traded down $2.72 during trading on Monday, hitting $129.82. The stock had a trading volume of 284,123 shares, compared to its average volume of 1,031,997. The stock has a 50 day simple moving average of $104.18 and a two-hundred day simple moving average of $90.89. GeneDx Holdings Corp. has a twelve month low of $32.11 and a twelve month high of $136.00. The company has a market capitalization of $3.73 billion, a PE ratio of 2,593.06 and a beta of 2.03. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.70 and a current ratio of 2.87.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.40. The company had revenue of $102.69 million during the quarter, compared to analysts' expectations 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. On average, research analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WGS has been the topic of a number of analyst reports. Wells Fargo & Company upped their target price on GeneDx from $78.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Guggenheim reaffirmed a "buy" rating and set a $115.00 price target (up previously from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Piper Sandler set a $120.00 price target on shares of GeneDx and gave the company an "overweight" rating in a report on Monday, August 4th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, GeneDx currently has a consensus rating of "Moderate Buy" and an average price target of $101.63.

Insiders Place Their Bets

In related news, CFO Kevin Feeley sold 378 shares of GeneDx stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $125.81, for a total transaction of $47,556.18. Following the completion of the sale, the chief financial officer directly owned 4,096 shares of the company's stock, valued at approximately $515,317.76. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Casdin Capital, Llc sold 500,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $120.90, for a total value of $60,450,000.00. Following the completion of the sale, the director owned 3,007,164 shares in the company, valued at $363,566,127.60. This trade represents a 14.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 561,641 shares of company stock valued at $67,551,904 over the last ninety days. 29.60% of the stock is owned by insiders.

About GeneDx

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.