Harbor Capital Advisors Inc. Purchases 24,042 Shares of GeneDx Holdings Corp. $WGS

Key Points

• Harbor Capital Advisors Inc. increased its stake in GeneDx Holdings Corp. by 150.9%, owning a total of 39,979 shares valued at approximately $3.69 million after acquiring 24,042 shares in Q2.
• Institutional investors collectively hold 61.72% of GeneDx's shares, reflecting significant interest from firms like T. Rowe Price and AllianceBernstein.
• GeneDx reported an EPS of $0.50 for the last quarter, surpassing analyst expectations, with revenues of $102.69 million, significantly above the estimated $86 million.

Harbor Capital Advisors Inc. increased its stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 150.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,979 shares of the company's stock after purchasing an additional 24,042 shares during the period. Harbor Capital Advisors Inc. owned 0.14% of GeneDx worth $3,690,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Comerica Bank purchased a new stake in shares of GeneDx during the fourth quarter worth approximately $50,000. Ameriprise Financial Inc. acquired a new stake in GeneDx in the fourth quarter worth $2,645,000. Janus Henderson Group PLC acquired a new position in shares of GeneDx in the 4th quarter valued at $430,000. Lazard Asset Management LLC bought a new stake in GeneDx during the fourth quarter worth approximately $35,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of GeneDx by 7.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,188 shares of the company's stock worth $552,000 after purchasing an additional 515 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company's stock.

Wall Street Analysts Forecast Growth

WGS has been the subject of a number of research analyst reports. Piper Sandler boosted their price target on GeneDx from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. 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 reaffirmed a "buy" rating and set a $115.00 target price (up from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Finally, Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $104.13.

GeneDx Stock Down 0.8%

NASDAQ:WGS traded down $1.11 during trading hours on Friday, reaching $129.60. 545,293 shares of the stock were exchanged, compared to its average volume of 512,022. The stock has a market cap of $3.72 billion, a PE ratio of 2,592.00 and a beta of 2.04. GeneDx Holdings Corp. has a twelve month low of $35.88 and a twelve month high of $136.00. 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 firm has a 50 day moving average of $111.62 and a 200 day moving average of $92.84.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.40. GeneDx had a return on equity of 16.51% and a net margin of 0.39%.The company had revenue of $102.69 million for 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 earnings per share for the current year.

Insider Transactions at GeneDx

In related news, Director Casdin Capital, Llc sold 500,000 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $120.90, for a total transaction of $60,450,000.00. Following the transaction, the director directly owned 3,007,164 shares of the company's stock, valued at $363,566,127.60. This represents a 14.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Katherine Stueland sold 10,501 shares of GeneDx stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $121.47, for a total transaction of $1,275,556.47. Following the completion of the sale, the chief executive officer owned 14,578 shares of the company's stock, valued at $1,770,789.66. This trade represents a 41.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 575,870 shares of company stock worth $69,280,301 over the last three months. 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.