Morse Asset Management Inc Takes $1.81 Million Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Morse Asset Management Inc bought a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 20,411 shares of the company's stock, valued at approximately $1,808,000. Morse Asset Management Inc owned 0.07% of GeneDx at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Sterling Capital Management LLC grew its holdings in GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after acquiring an additional 316 shares in the last quarter. GAMMA Investing LLC grew its holdings in GeneDx by 151.7% during the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after acquiring an additional 264 shares in the last quarter. Lazard Asset Management LLC bought a new position in GeneDx during the 4th quarter worth about $35,000. Comerica Bank bought a new position in GeneDx during the 4th quarter worth about $50,000. Finally, KBC Group NV bought a new position in GeneDx during the 1st quarter worth about $81,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

GeneDx Stock Performance

Shares of GeneDx stock opened at $77.87 on Friday. GeneDx Holdings Corp. has a one year low of $25.32 and a one year high of $117.75. The company has a market cap of $2.22 billion, a PE ratio of -55.23 and a beta of 2.01. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.07 and a current ratio of 3.25. The business has a 50-day simple moving average of $75.50 and a 200-day simple moving average of $82.83.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly 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. The firm had revenue of $87.12 million during the quarter, compared to the consensus estimate of $79.90 million. GeneDx had a positive return on equity of 10.17% and a negative net margin of 11.69%. On average, equities research analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WGS. Wall Street Zen lowered shares of GeneDx from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Guggenheim reissued a "buy" rating and set a $115.00 price target (up from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Jefferies Financial Group raised shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a research note on Friday, May 9th. Wells Fargo & Company dropped their price objective 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. Finally, Piper Sandler initiated coverage on shares of GeneDx in a research note on Wednesday, July 9th. They set an "overweight" rating and a $110.00 price objective on the stock. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.33.

Insider Buying and Selling at GeneDx

In other news, CEO Katherine Stueland sold 3,220 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $93.00, for a total transaction of $299,460.00. Following the completion of the sale, the chief executive officer owned 1,720 shares in the company, valued at $159,960. This represents a 65.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Feeley sold 5,278 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $93.00, for a total value of $490,854.00. Following the sale, the chief financial officer owned 3,392 shares of the company's stock, valued at $315,456. This trade represents a 60.88% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,411 shares of company stock worth $2,104,828. 29.60% of the stock is owned by insiders.

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.

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