Algert Global LLC Boosts Holdings in GeneDx Holdings Corp. $WGS

Key Points

• Algert Global LLC increased its stake in GeneDx Holdings Corp. by 11.2% during Q1, owning 47,726 shares worth approximately $4.23 million.
• GeneDx reported a Q2 EPS of $0.50, significantly surpassing the consensus estimate of $0.10, with revenue of $102.69 million.
• Several analysts have upgraded GeneDx's stock rating to "buy", with a consensus price target of $101.63.

Algert Global LLC raised its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 11.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 47,726 shares of the company's stock after purchasing an additional 4,800 shares during the period. Algert Global LLC owned 0.17% of GeneDx worth $4,227,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC raised its position in shares of GeneDx by 877.8% during the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after buying an additional 316 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of GeneDx in the fourth quarter worth about $35,000. GAMMA Investing LLC lifted its position in shares of GeneDx by 151.7% in the first quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after buying an additional 264 shares in the last quarter. Comerica Bank bought a new position in GeneDx during the fourth quarter valued at approximately $50,000. Finally, US Bancorp DE boosted its stake in GeneDx by 3,223.5% during the first quarter. US Bancorp DE now owns 565 shares of the company's stock valued at $50,000 after buying an additional 548 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on WGS shares. Wall Street Zen raised GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Piper Sandler set a $120.00 price objective on GeneDx and gave the stock an "overweight" rating in a research note on Monday, August 4th. Wells Fargo & Company upped their price target on shares of GeneDx from $78.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. TD Securities decreased their price target on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, 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. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, GeneDx currently has an average rating of "Moderate Buy" and an average target price of $101.63.

GeneDx Trading Up 6.6%

Shares of WGS traded up $7.94 during midday trading on Friday, hitting $128.66. The stock had a trading volume of 1,676,175 shares, compared to its average volume of 1,043,752. GeneDx Holdings Corp. has a 1 year low of $28.86 and a 1 year high of $130.33. The firm has a market cap of $3.70 billion, a PE ratio of 2,573.20 and a beta of 2.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.87 and a quick ratio of 2.70. The stock's 50 day moving average is $93.85 and its 200 day moving average is $87.35.

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

Insiders Place Their Bets

In other GeneDx news, CFO Kevin Feeley sold 388 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $105.31, for a total transaction of $40,860.28. Following the completion of the sale, the chief financial officer owned 3,757 shares in the company, valued at $395,649.67. This represents a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Katherine Stueland sold 2,154 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $105.31, for a total value of $226,837.74. Following the sale, the chief executive officer owned 3,440 shares of the company's stock, valued at approximately $362,266.40. This represents a 38.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 522,411 shares of company stock worth $62,535,051 over the last quarter. Company insiders own 29.60% of the company's stock.

GeneDx 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.