Jacobs Levy Equity Management Inc. Makes New Investment in GeneDx Holdings Corp. $WGS

Key Points

• Jacobs Levy Equity Management Inc. has acquired a new stake worth approximately $488,000 in GeneDx Holdings Corp., purchasing 5,511 shares in the first quarter.
• Several hedge funds significantly increased their holdings in GeneDx, with Summit Partners growing its position by 336.9% in the fourth quarter, now owning shares valued at $58 million.
• Wall Street analysts have generally assigned a Buy rating to GeneDx, with price targets being raised, indicating a positive outlook for the company's stock performance.

Jacobs Levy Equity Management Inc. acquired a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,511 shares of the company's stock, valued at approximately $488,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. EFG Asset Management North America Corp. purchased a new stake in shares of GeneDx in the first quarter worth approximately $975,000. Alliancebernstein L.P. raised its holdings in shares of GeneDx by 3,054.5% in the first quarter. Alliancebernstein L.P. now owns 436,900 shares of the company's stock worth $38,694,000 after buying an additional 423,050 shares during the period. Royal Bank of Canada raised its holdings in shares of GeneDx by 30.2% in the first quarter. Royal Bank of Canada now owns 29,479 shares of the company's stock worth $2,611,000 after buying an additional 6,840 shares during the period. Alamea Verwaltungs GmbH purchased a new stake in shares of GeneDx in the first quarter worth approximately $18,693,000. Finally, Ashford Capital Management Inc. purchased a new stake in shares of GeneDx in the first quarter worth approximately $8,344,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Kevin Feeley sold 3,728 shares of the firm's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $121.47, for a total value of $452,840.16. Following the completion of the sale, the chief financial officer owned 8,755 shares of the company's stock, valued at $1,063,469.85. This trade represents a 29.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Katherine Stueland sold 10,501 shares of the firm's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $121.47, for a total value of $1,275,556.47. Following the completion of the sale, the chief executive officer directly owned 14,578 shares of the company's stock, valued at $1,770,789.66. The trade was a 41.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 575,870 shares of company stock worth $69,280,301 over the last quarter. Company insiders own 29.60% of the company's stock.

GeneDx Stock Up 2.2%

NASDAQ WGS traded up $2.79 during midday trading on Thursday, hitting $130.71. 482,002 shares of the company traded hands, compared to its average volume of 533,473. 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 company has a market cap of $3.76 billion, a PE ratio of 2,614.20 and a beta of 2.04. GeneDx Holdings Corp. has a 52 week low of $35.88 and a 52 week high of $136.00. The company's 50-day simple moving average is $110.68 and its 200-day simple moving average is $92.71.

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

Analysts Set New Price Targets

WGS has been the topic of several recent analyst reports. Guggenheim reiterated a "buy" rating and issued a $115.00 price target (up from $88.00) on shares of GeneDx in a report on Monday, June 30th. Wells Fargo & Company raised their price objective on GeneDx from $78.00 to $95.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Piper Sandler raised their price objective on GeneDx from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Finally, Wall Street Zen upgraded GeneDx from a "hold" rating to a "buy" rating in a 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $104.13.

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.