Jackson Creek Investment Advisors LLC Acquires New Stake in GeneDx Holdings Corp. (NASDAQ:WGS)

Jackson Creek Investment Advisors LLC purchased a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 15,560 shares of the company's stock, valued at approximately $1,378,000. Jackson Creek Investment Advisors LLC owned approximately 0.06% of GeneDx at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of WGS. Lord Abbett & CO. LLC bought a new stake in shares of GeneDx in the 4th quarter valued at about $48,458,000. Summit Partners Public Asset Management LLC grew its stake 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 valued at $58,073,000 after buying an additional 582,619 shares during the last quarter. Science & Technology Partners L.P. acquired a new position in GeneDx in the 4th quarter valued at about $30,821,000. Raymond James Financial Inc. acquired a new position in GeneDx in the 4th quarter valued at about $20,371,000. Finally, Invesco Ltd. grew its stake in GeneDx by 4,382.2% in the 4th quarter. Invesco Ltd. now owns 255,351 shares of the company's stock valued at $19,626,000 after buying an additional 249,654 shares during the last quarter. 61.72% of the stock is owned by institutional investors.

GeneDx Price Performance

Shares of WGS stock traded down $0.23 during mid-day trading on Friday, hitting $80.19. The company had a trading volume of 20,228 shares, compared to its average volume of 825,404. The stock's 50 day moving average price is $75.12 and its 200-day moving average price is $82.78. GeneDx Holdings Corp. has a 52-week low of $25.32 and a 52-week high of $117.75. The company has a market capitalization of $2.29 billion, a P/E ratio of -57.29 and a beta of 2.01. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.25 and a quick ratio of 3.07.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wells Fargo & Company decreased their price target on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Jefferies Financial Group upgraded shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research report on Friday, May 9th. Piper Sandler initiated coverage on shares of GeneDx in a research report on Wednesday, July 9th. They set an "overweight" rating and a $110.00 target price on the stock. Wall Street Zen lowered shares of GeneDx from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Finally, Guggenheim reaffirmed a "buy" rating and set a $115.00 price target (up previously from $88.00) on shares of GeneDx in a report on Monday, June 30th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $92.33.

Insider Activity

In other news, CEO Katherine Stueland sold 9,657 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $90.94, for a total value of $878,207.58. Following the sale, the chief executive officer directly owned 4,940 shares of the company's stock, valued at $449,243.60. This represents a 66.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith A. Meister acquired 100,000 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was acquired at an average cost of $56.01 per share, for a total transaction of $5,601,000.00. Following the completion of the acquisition, the director directly owned 3,008,629 shares in the company, valued at approximately $168,513,310.29. The trade was a 3.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 22,411 shares of company stock worth $2,104,828 over the last 90 days. 29.60% of the stock is currently owned by corporate insiders.

About GeneDx

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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