GeneDx Holdings Corp. $WGS Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in GeneDx Holdings Corp. by 3.0%, owning 146,907 shares valued at approximately $13 million after selling 4,496 shares in Q1.
• GeneDx reported earnings of $0.50 EPS, significantly surpassing analysts' expectations of $0.10 EPS, and generated revenues of $102.69 million for the quarter.
• Several brokerages upgraded GeneDx's stock rating to "buy", with new price targets ranging from $80.00 to $135.00, reflecting a positive outlook among analysts.

Charles Schwab Investment Management Inc. trimmed its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 3.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 146,907 shares of the company's stock after selling 4,496 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.52% of GeneDx worth $13,011,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Lord Abbett & CO. LLC purchased a new position in GeneDx in the 4th quarter worth approximately $48,458,000. Summit Partners Public Asset Management LLC raised its holdings in GeneDx by 336.9% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock worth $58,073,000 after acquiring an additional 582,619 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in GeneDx in the 1st quarter worth approximately $19,704,000. Farallon Capital Management LLC purchased a new position in GeneDx in the 4th quarter worth approximately $14,988,000. Finally, Fred Alger Management LLC raised its holdings in GeneDx by 38.5% in the 4th quarter. Fred Alger Management LLC now owns 546,054 shares of the company's stock worth $41,970,000 after acquiring an additional 151,824 shares during the last quarter. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

GeneDx Price Performance

Shares of NASDAQ WGS traded up $2.94 during midday trading on Wednesday, reaching $129.19. The stock had a trading volume of 469,874 shares, compared to its average volume of 1,056,853. The stock has a 50-day moving average of $96.19 and a 200-day moving average of $88.37. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.70 and a current ratio of 2.87. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 2,583.80 and a beta of 2.02. GeneDx Holdings Corp. has a 12-month low of $28.86 and a 12-month high of $130.34.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.40. The business had revenue of $102.69 million during the quarter, compared to analyst estimates 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. As a group, research analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling at GeneDx

In related news, CFO Kevin Feeley sold 5,278 shares of GeneDx 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 in the company, valued at approximately $315,456. This trade represents a 60.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 9,657 shares of GeneDx 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 of the company's stock, valued at $449,243.60. The trade was a 66.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 522,411 shares of company stock worth $62,535,051 in the last quarter. 29.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WGS has been the subject of a number of recent analyst reports. TD Securities decreased their price objective on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Piper Sandler set a $120.00 target price on shares of GeneDx and gave the stock an "overweight" rating in a research report on Monday, August 4th. Wells Fargo & Company boosted their target price 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. Guggenheim reiterated a "buy" rating and set a $115.00 target price (up from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Finally, Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.