Jacobs Levy Equity Management Inc. Takes $488,000 Position 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. purchased a new stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,511 shares of the company's stock, valued at approximately $488,000.

Several other hedge funds also recently made changes to their positions in WGS. Summit Partners Public Asset Management LLC grew its position in shares of GeneDx by 336.9% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock valued at $58,073,000 after purchasing an additional 582,619 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of GeneDx in the first quarter valued at $44,614,000. Alliancebernstein L.P. boosted its stake in GeneDx by 3,054.5% during the first quarter. Alliancebernstein L.P. now owns 436,900 shares of the company's stock valued at $38,694,000 after buying an additional 423,050 shares during the period. Wellington Management Group LLP boosted its stake in GeneDx by 202.3% during the first quarter. Wellington Management Group LLP now owns 425,647 shares of the company's stock valued at $37,697,000 after buying an additional 284,855 shares during the period. Finally, American Century Companies Inc. bought a new stake in GeneDx during the first quarter valued at $23,877,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wall Street Zen raised GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Guggenheim reissued a "buy" rating and set a $115.00 price objective (up previously from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Piper Sandler lifted their price objective on GeneDx from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Wells Fargo & Company lifted their price objective on GeneDx from $78.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.13.

GeneDx Price Performance

WGS opened at $123.95 on Friday. The stock has a 50-day moving average price of $107.63 and a 200-day moving average price of $91.99. GeneDx Holdings Corp. has a 12-month low of $35.88 and a 12-month high of $136.00. The company has a current ratio of 2.87, a quick ratio of 2.70 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $3.56 billion, a P/E ratio of 2,479.00 and a beta of 2.04.

GeneDx (NASDAQ:WGS - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $86.00 million. GeneDx has set its FY 2025 guidance at EPS. Equities analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jason Ryan sold 38,072 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $127.30, for a total value of $4,846,565.60. Following the completion of the sale, the director owned 103,284 shares of the company's stock, valued at approximately $13,148,053.20. The trade was a 26.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Feeley sold 378 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $125.81, for a total value of $47,556.18. Following the completion of the sale, the chief financial officer directly owned 4,096 shares of the company's stock, valued at approximately $515,317.76. This trade represents a 8.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 561,641 shares of company stock worth $67,551,904. Insiders own 29.60% of the company's stock.

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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