Swiss National Bank Purchases 8,100 Shares of GeneDx Holdings Corp. $WGS

Key Points

• The Swiss National Bank increased its stake in GeneDx Holdings Corp. by 34.0% during the first quarter, owning 0.11% of the company, valued at approximately $2.83 million.
• GeneDx reported impressive earnings with an EPS of $0.50, beating expectations, and had a revenue of $102.69 million for the quarter.
• Several analysts have a positive outlook on GeneDx, with multiple "buy" ratings and a current consensus target price of $101.63.

Swiss National Bank increased its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 34.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,900 shares of the company's stock after buying an additional 8,100 shares during the quarter. Swiss National Bank owned 0.11% of GeneDx worth $2,825,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in GeneDx by 151.7% during the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after buying an additional 264 shares during the period. Palisades Investment Partners LLC raised its stake in shares of GeneDx by 0.4% in the 1st quarter. Palisades Investment Partners LLC now owns 83,913 shares of the company's stock valued at $7,432,000 after purchasing an additional 309 shares during the period. Sterling Capital Management LLC raised its stake in shares of 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 purchasing an additional 316 shares during the period. MetLife Investment Management LLC raised its stake in shares of GeneDx by 6.2% in the 4th quarter. MetLife Investment Management LLC now owns 7,750 shares of the company's stock valued at $596,000 after purchasing an additional 453 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of GeneDx in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 61.72% of the company's stock.

Insider Buying and Selling

In related news, CEO Katherine Stueland sold 9,657 shares of GeneDx stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $90.94, for a total transaction of $878,207.58. Following the completion of the transaction, the chief executive officer owned 4,940 shares in the company, valued at approximately $449,243.60. This trade represents a 66.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Casdin Capital, Llc sold 500,000 shares of GeneDx 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 transaction, the director owned 3,007,164 shares of the company's stock, valued at $363,566,127.60. The trade was a 14.26% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 522,411 shares of company stock worth $62,535,051. Company insiders own 29.60% of the company's stock.

GeneDx Stock Up 6.6%

Shares of NASDAQ WGS traded up $7.94 during mid-day trading on Friday, hitting $128.66. The company had a trading volume of 1,676,175 shares, compared to its average volume of 1,043,752. The company has a market capitalization of $3.70 billion, a PE ratio of 2,573.20 and a beta of 2.02. The firm has a 50-day simple moving average of $93.85 and a two-hundred day simple moving average of $87.49. The company has a current ratio of 2.87, a quick ratio of 2.70 and a debt-to-equity ratio of 0.19. GeneDx Holdings Corp. has a one year low of $28.86 and a one year high of $130.33.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WGS. Piper Sandler set a $120.00 price target on GeneDx and gave the company an "overweight" rating in a research note on Monday, August 4th. Wall Street Zen raised GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Jefferies Financial Group raised GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research note on Friday, May 9th. Guggenheim reissued a "buy" rating and issued a $115.00 price target (up previously from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Finally, TD Securities dropped their price target on GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, GeneDx presently has an average rating of "Moderate Buy" and a consensus price target of $101.63.

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.