Wellington Management Group LLP Buys 284,855 Shares of GeneDx Holdings Corp. $WGS

Key Points

• Wellington Management Group LLP significantly increased its stake in GeneDx Holdings Corp. by 202.3%, acquiring a total of 425,647 shares worth approximately $37.7 million.
• Major brokerages have raised their price targets for GeneDx stock, with Piper Sandler setting a target of $120.00 and Wells Fargo increasing theirs to $95.00, reflecting strong analyst confidence.
• GeneDx reported a robust quarterly revenue of $102.69 million, exceeding expectations and marking a significant earnings per share (EPS) beat of $0.50 versus an expected $0.10.

Wellington Management Group LLP boosted its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 202.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 425,647 shares of the company's stock after buying an additional 284,855 shares during the period. Wellington Management Group LLP owned approximately 1.52% of GeneDx worth $37,697,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. purchased a new stake in shares of GeneDx in the fourth quarter valued at about $2,645,000. Raymond James Financial Inc. raised its holdings 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 valued at $29,525,000 after purchasing an additional 68,331 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of GeneDx in the fourth quarter valued at about $380,000. Voya Investment Management LLC purchased a new stake in shares of GeneDx in the fourth quarter valued at about $292,000. Finally, GAMMA Investing LLC increased its holdings in GeneDx by 22,194.3% during the first quarter. GAMMA Investing LLC now owns 38,792 shares of the company's stock worth $3,436,000 after buying an additional 38,618 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company's stock.

Insiders Place Their Bets

In other GeneDx news, CFO Kevin Feeley sold 5,278 shares of the business's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $93.00, for a total value of $490,854.00. Following the completion of the transaction, the chief financial officer owned 3,392 shares of the company's stock, valued at approximately $315,456. The trade was a 60.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Casdin Capital, Llc sold 500,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $120.90, for a total value of $60,450,000.00. Following the completion of the transaction, the director directly owned 3,007,164 shares of the company's stock, valued at approximately $363,566,127.60. This trade represents a 14.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 561,633 shares of company stock worth $67,530,714 in the last 90 days. Corporate insiders own 29.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WGS shares. Wells Fargo & Company raised their price objective on shares of GeneDx from $78.00 to $95.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Jefferies Financial Group upgraded shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research report on Friday, May 9th. Guggenheim restated a "buy" rating and issued a $115.00 price objective (up from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Finally, Piper Sandler set a $120.00 target price on shares of GeneDx and gave the company an "overweight" rating in a research note on Monday, August 4th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $101.63.

GeneDx Stock Up 2.3%

Shares of WGS stock traded up $2.94 during mid-day trading on Wednesday, reaching $129.19. 469,874 shares of the company's stock traded hands, compared to its average volume of 902,400. GeneDx Holdings Corp. has a 12 month low of $28.86 and a 12 month high of $130.34. The company has a market cap of $3.71 billion, a P/E ratio of 2,583.80 and a beta of 2.02. The company has a quick ratio of 2.70, a current ratio of 2.87 and a debt-to-equity ratio of 0.19. The company's 50-day moving average price is $97.49 and its 200-day moving average price is $88.65.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.40. The firm had revenue of $102.69 million for the quarter, compared to analysts' expectations of $86.00 million. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. GeneDx has set its FY 2025 guidance at EPS. On average, equities analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

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.