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

GAMMA Investing LLC increased its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 22,194.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,792 shares of the company's stock after acquiring an additional 38,618 shares during the period. GAMMA Investing LLC owned approximately 0.14% of GeneDx worth $3,436,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Sterling Capital Management LLC lifted its stake in GeneDx by 877.8% in the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after buying an additional 316 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of GeneDx in the fourth quarter valued at approximately $28,000. MetLife Investment Management LLC boosted its stake in shares of GeneDx by 6.2% in the fourth quarter. MetLife Investment Management LLC now owns 7,750 shares of the company's stock worth $596,000 after acquiring an additional 453 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of GeneDx during the fourth quarter worth approximately $35,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in GeneDx by 7.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,188 shares of the company's stock valued at $552,000 after purchasing an additional 515 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WGS. Guggenheim assumed coverage on shares of GeneDx in a research note on Thursday, May 15th. They set a "buy" rating and a $88.00 target price on the stock. TD Securities dropped their price objective on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company decreased their target price on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a report on Friday, May 9th. Finally, The Goldman Sachs Group increased their price target on GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $86.75.

Insider Transactions at GeneDx

In related news, Director Keith A. Meister acquired 100,000 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was bought at an average price of $56.01 per share, for a total transaction of $5,601,000.00. Following the completion of the purchase, the director now directly owns 3,008,629 shares of the company's stock, valued at approximately $168,513,310.29. The trade was a 3.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 10,559 shares of GeneDx stock in a transaction dated 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 sale, the chief executive officer now owns 14,865 shares in the company, valued at $1,437,594.15. This trade represents a 41.53% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 134,627 shares of company stock valued at $12,590,999. Insiders own 29.60% of the company's stock.

GeneDx Trading Down 2.3%

NASDAQ:WGS traded down $1.54 on Friday, reaching $64.83. 257,619 shares of the company's stock were exchanged, compared to its average volume of 780,289. The business has a fifty day moving average of $78.86 and a 200-day moving average of $81.96. 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 Holdings Corp. has a 52-week low of $24.91 and a 52-week high of $117.75. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -33.22 and a beta of 1.94.

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

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.