GAMMA Investing LLC Boosts Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

GAMMA Investing LLC lifted its stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 22,194.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,792 shares of the company's stock after purchasing an additional 38,618 shares during the quarter. GAMMA Investing LLC owned 0.14% of GeneDx worth $3,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of WGS. Allspring Global Investments Holdings LLC raised its position 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 worth $7,179,000 after purchasing an additional 89,974 shares during the last quarter. Legato Capital Management LLC raised its position in shares of GeneDx by 88.0% in the 4th quarter. Legato Capital Management LLC now owns 27,691 shares of the company's stock worth $2,128,000 after purchasing an additional 12,961 shares during the last quarter. Rhumbline Advisers raised its position in shares of 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 last quarter. Palumbo Wealth Management LLC raised its position in GeneDx by 22.8% in the 4th quarter. Palumbo Wealth Management LLC now owns 8,303 shares of the company's stock worth $638,000 after buying an additional 1,542 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in GeneDx by 10.6% in the 4th quarter. Principal Financial Group Inc. now owns 15,751 shares of the company's stock worth $1,211,000 after buying an additional 1,511 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company's stock.

GeneDx Stock Performance

Shares of GeneDx stock traded down $1.80 during trading hours on Friday, reaching $64.57. 491,417 shares of the stock traded hands, compared to its average volume of 785,528. The company has a 50 day moving average price of $78.43 and a 200 day moving average price of $81.87. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -32.94 and a beta of 1.94. GeneDx Holdings Corp. has a one year low of $24.91 and a one year high of $117.75. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

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

Insider Activity at GeneDx

In related news, CFO Kevin Feeley sold 8,746 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $95.61, for a total value of $836,205.06. Following the transaction, the chief financial officer now directly owns 15,996 shares of the company's stock, valued at approximately $1,529,377.56. The trade was a 35.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katherine Stueland sold 10,559 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $96.71, for a total value of $1,021,160.89. Following the completion of the transaction, the chief executive officer now directly owns 14,865 shares in the company, valued at approximately $1,437,594.15. This represents a 41.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,627 shares of company stock worth $12,590,999. 29.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on WGS shares. 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 report on Friday, May 9th. Guggenheim started coverage on GeneDx in a research report on Thursday, May 15th. They issued a "buy" rating and a $88.00 target price for the company. The Goldman Sachs Group boosted their target price on GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Wells Fargo & Company decreased their target price 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. Finally, TD Securities decreased their target price 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 equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, GeneDx currently has an average rating of "Moderate Buy" and a consensus price target of $86.75.

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.