Next Century Growth Investors LLC Has $36.94 Million Holdings in GeneDx Holdings Corp. $WGS

Key Points

• Next Century Growth Investors LLC increased its stake in GeneDx Holdings Corp. by 33.7%, making it the largest position in its investment portfolio, valued at approximately $36.9 million.
• Insider trading activity showed that CFO Kevin Feeley and director Casdin Capital, LLC sold significant shares, indicating a decrease of ownership for both personnel.
• Several equity research analysts updated their ratings for GeneDx, with Piper Sandler setting a target price of $120.00 and the stock currently holding a consensus rating of "Moderate Buy."

Next Century Growth Investors LLC lifted its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 33.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 417,037 shares of the company's stock after purchasing an additional 105,023 shares during the period. GeneDx accounts for 3.3% of Next Century Growth Investors LLC's portfolio, making the stock its largest holding. Next Century Growth Investors LLC owned 1.49% of GeneDx worth $36,935,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. acquired a new position in shares of GeneDx during the 4th quarter worth about $2,645,000. Raymond James Financial Inc. increased its stake in shares of GeneDx by 25.8% during the 1st quarter. Raymond James Financial Inc. now owns 333,376 shares of the company's stock worth $29,525,000 after purchasing an additional 68,331 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of GeneDx during the 4th quarter worth about $380,000. Voya Investment Management LLC acquired a new position in shares of GeneDx during the 4th quarter worth about $292,000. Finally, GAMMA Investing LLC grew its stake in GeneDx by 22,194.3% in the 1st quarter. GAMMA Investing LLC now owns 38,792 shares of the company's stock valued at $3,436,000 after buying an additional 38,618 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Jason Ryan sold 38,072 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $127.30, for a total transaction 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. This represents a 26.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 2,154 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $105.31, for a total transaction of $226,837.74. Following the sale, the chief executive officer directly owned 3,440 shares of the company's stock, valued at approximately $362,266.40. This trade represents a 38.51% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 561,633 shares of company stock worth $67,530,714. Insiders own 29.60% of the company's stock.

GeneDx Stock Performance

NASDAQ WGS traded up $0.49 during trading on Friday, reaching $129.49. The company's stock had a trading volume of 441,270 shares, compared to its average volume of 748,496. 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 firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 2,589.80 and a beta of 2.02. GeneDx Holdings Corp. has a 12 month low of $28.86 and a 12 month high of $130.91. The firm has a 50 day moving average price of $100.03 and a 200 day moving average price of $89.62.

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, beating analysts' consensus estimates of $0.10 by $0.40. The firm had revenue of $102.69 million during the quarter, compared to the consensus estimate of $86.00 million. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. GeneDx has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Guggenheim reiterated a "buy" rating and issued a $115.00 price target (up previously from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Jefferies Financial Group upgraded shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research note on Friday, May 9th. Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Piper Sandler set a $120.00 price target on shares of GeneDx and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, Wells Fargo & Company upped their price target on shares of GeneDx from $78.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $101.63.

GeneDx Company 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.