MRA Advisory Group Acquires Shares of 3,229 GeneDx Holdings Corp. $WGS

Key Points

• MRA Advisory Group has acquired a new stake in GeneDx Holdings Corp., purchasing 3,229 shares valued at approximately $298,000 during the 2nd quarter.
• GeneDx's stock price recently opened at $123.95, and the company has experienced significant volatility, with a 12-month low of $35.88 and a high of $136.00.
• Analysts have adjusted their price targets for GeneDx, with recommendations ranging from an "equal weight" rating at $95.00 by Wells Fargo to a target of $140.00 by Piper Sandler, indicating a consensus rating of "Moderate Buy".

MRA Advisory Group bought a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,229 shares of the company's stock, valued at approximately $298,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WGS. GAMMA Investing LLC grew its stake in GeneDx by 151.7% in 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. Palisades Investment Partners LLC grew its position in shares of GeneDx by 0.4% in the first quarter. Palisades Investment Partners LLC now owns 83,913 shares of the company's stock valued at $7,432,000 after purchasing an additional 309 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of GeneDx by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company's stock valued at $677,000 after purchasing an additional 453 shares during the period. Lazard Asset Management LLC acquired a new position in GeneDx during the fourth quarter worth about $35,000. Finally, US Bancorp DE raised its stake in GeneDx by 3,223.5% during the first quarter. US Bancorp DE now owns 565 shares of the company's stock worth $50,000 after purchasing an additional 548 shares during the period. Institutional investors own 61.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Piper Sandler upped their target price on shares of GeneDx from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. Wells Fargo & Company raised their target price on shares of GeneDx from $78.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Finally, Guggenheim reiterated a "buy" rating and issued a $115.00 price target (up previously from $88.00) on shares of GeneDx in a report on Monday, June 30th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $104.13.

GeneDx Price Performance

GeneDx stock traded down $2.64 during midday trading on Friday, hitting $128.08. The company's stock had a trading volume of 175,390 shares, compared to its average volume of 1,003,018. The company has a quick ratio of 2.70, a current ratio of 2.87 and a debt-to-equity ratio of 0.19. The stock's 50-day moving average price is $110.68 and its 200-day moving average price is $92.71. GeneDx Holdings Corp. has a 12 month low of $35.88 and a 12 month high of $136.00. The company has a market capitalization of $3.68 billion, a PE ratio of 2,575.02 and a beta of 2.04.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.40. The firm had revenue of $102.69 million for the quarter, compared to the consensus estimate 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. Analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Casdin Capital, Llc sold 500,000 shares of GeneDx stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $120.90, for a total value of $60,450,000.00. Following the completion of the sale, the director directly owned 3,007,164 shares in the company, valued at $363,566,127.60. This trade represents a 14.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Feeley sold 5,278 shares of GeneDx stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $93.00, for a total value of $490,854.00. Following the completion of the sale, the chief financial officer owned 3,392 shares of the company's stock, valued at approximately $315,456. The trade was a 60.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 575,870 shares of company stock valued at $69,280,301 in the last three months. 29.60% of the stock is owned by corporate 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.