GeneDx Holdings Corp. (NASDAQ:WGS) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund increased its holdings in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 26.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,922 shares of the company's stock after acquiring an additional 17,850 shares during the quarter. New York State Common Retirement Fund owned approximately 0.31% of GeneDx worth $7,610,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. purchased a new position in GeneDx in the 4th quarter valued at about $2,645,000. Envestnet Asset Management Inc. purchased a new position in GeneDx in the 4th quarter valued at about $380,000. Prudential Financial Inc. purchased a new position in GeneDx in the 4th quarter valued at about $7,938,000. Voya Investment Management LLC purchased a new position in GeneDx in the 4th quarter valued at about $292,000. Finally, GAMMA Investing LLC lifted its holdings in GeneDx by 22,194.3% in 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 in the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WGS has been the topic of a number of analyst reports. Jefferies Financial Group upgraded shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a research note on Friday, May 9th. Wells Fargo & Company dropped their price objective 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. TD Securities decreased their price target on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Guggenheim reissued a "buy" rating and set a $115.00 price target (up previously from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Finally, Wall Street Zen downgraded shares of GeneDx from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, GeneDx presently has a consensus rating of "Moderate Buy" and an average target price of $92.33.

GeneDx Price Performance

Shares of WGS opened at $77.87 on Friday. The firm has a market cap of $2.22 billion, a PE ratio of -55.23 and a beta of 2.01. The firm's 50 day moving average price is $75.50 and its 200 day moving average price is $82.83. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.07 and a current ratio of 3.25. GeneDx Holdings Corp. has a twelve month low of $25.32 and a twelve month high of $117.75.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.17. GeneDx had a negative net margin of 11.69% and a positive return on equity of 10.17%. The firm had revenue of $87.12 million for the quarter, compared to analyst estimates of $79.90 million. As a group, research analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Activity

In related news, Director Keith A. Meister bought 100,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average price of $56.01 per share, with a total value of $5,601,000.00. Following the completion of the transaction, the director owned 3,008,629 shares of the company's stock, valued at $168,513,310.29. The trade was a 3.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katherine Stueland sold 9,657 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $90.94, for a total transaction of $878,207.58. Following the transaction, the chief executive officer directly owned 4,940 shares in the company, valued at $449,243.60. This trade represents a 66.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,411 shares of company stock valued at $2,104,828 over the last 90 days. 29.60% of the stock is currently owned by company 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.

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