Hussman Strategic Advisors Inc. Makes New $2.79 Million Investment in GeneDx Holdings Corp. (NASDAQ:WGS)

Hussman Strategic Advisors Inc. bought a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 31,500 shares of the company's stock, valued at approximately $2,790,000. Hussman Strategic Advisors Inc. owned about 0.11% of GeneDx as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Sterling Capital Management LLC raised its stake in GeneDx by 877.8% in 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 in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of GeneDx during the fourth quarter worth about $35,000. GAMMA Investing LLC increased its position in GeneDx by 151.7% in the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock valued at $39,000 after acquiring an additional 264 shares during the period. Comerica Bank acquired a new position in GeneDx in the 4th quarter valued at about $50,000. Finally, Quarry LP purchased a new stake in GeneDx in the 4th quarter valued at approximately $78,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

GeneDx Stock Down 2.0%

WGS stock traded down $1.60 during midday trading on Friday, reaching $78.82. The company had a trading volume of 52,302 shares, compared to its average volume of 1,075,892. The company has a market capitalization of $2.25 billion, a P/E ratio of -55.89 and a beta of 2.01. The company has a 50 day moving average of $75.12 and a two-hundred day moving average of $82.78. The company has a current ratio of 3.25, a quick ratio of 3.07 and a debt-to-equity ratio of 0.20. GeneDx Holdings Corp. has a 1 year low of $25.32 and a 1 year high of $117.75.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.11 by $0.17. The firm had revenue of $87.12 million for the quarter, compared to the consensus estimate of $79.90 million. GeneDx had a negative net margin of 11.69% and a positive return on equity of 10.17%. On average, equities research analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on WGS shares. 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. Wells Fargo & Company reduced their target price on GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Guggenheim reaffirmed a "buy" rating and issued a $115.00 target price (up previously from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Wall Street Zen lowered GeneDx from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Finally, Piper Sandler began coverage on GeneDx in a research note on Wednesday, July 9th. They issued an "overweight" rating and a $110.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.33.

Insider Activity

In other news, Director Keith A. Meister acquired 100,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average price of $56.01 per share, for a total transaction of $5,601,000.00. Following the completion of the acquisition, the director owned 3,008,629 shares in the company, valued at $168,513,310.29. This trade represents a 3.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kevin Feeley sold 5,278 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $93.00, for a total transaction of $490,854.00. Following the completion of the sale, the chief financial officer directly owned 3,392 shares of the company's stock, valued at $315,456. The trade was a 60.88% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,411 shares of company stock worth $2,104,828. Corporate insiders own 29.60% of the company's stock.

GeneDx Company 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.

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