Palisades Investment Partners LLC Acquires New Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Palisades Investment Partners LLC purchased a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 83,604 shares of the company's stock, valued at approximately $6,425,000. GeneDx makes up approximately 2.7% of Palisades Investment Partners LLC's holdings, making the stock its 14th biggest holding. Palisades Investment Partners LLC owned approximately 0.30% of GeneDx at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in WGS. JPMorgan Chase & Co. raised its holdings in shares of GeneDx by 617.3% in the third quarter. JPMorgan Chase & Co. now owns 52,161 shares of the company's stock worth $2,214,000 after buying an additional 44,889 shares during the last quarter. MCF Advisors LLC boosted its position in GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company's stock worth $27,000 after purchasing an additional 182 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in GeneDx by 147,085.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 50,043 shares of the company's stock worth $3,846,000 after buying an additional 50,009 shares in the last quarter. Evolution Wealth Advisors LLC acquired a new stake in shares of GeneDx during the 4th quarter valued at about $202,000. Finally, SG Americas Securities LLC grew its holdings in GeneDx by 87.2% in the fourth quarter. SG Americas Securities LLC now owns 8,735 shares of the company's stock valued at $671,000 after purchasing an additional 4,068 shares during the period. Hedge funds and other institutional investors own 61.72% of the company's stock.

GeneDx Stock Down 6.0%

Shares of NASDAQ:WGS opened at $67.78 on Thursday. The firm has a 50 day simple moving average of $85.72 and a 200-day simple moving average of $82.39. GeneDx Holdings Corp. has a twelve month low of $19.16 and a twelve month high of $117.75. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $1.93 billion, a PE ratio of -34.58 and a beta of 1.96.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.11 by $0.17. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The firm had revenue of $87.12 million for the quarter, compared to analyst estimates of $79.90 million. On average, equities analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other GeneDx news, Director Keith A. Meister bought 100,000 shares of GeneDx stock in a transaction on Thursday, May 8th. The stock was bought at an average price of $56.01 per share, with a total value of $5,601,000.00. Following the completion of the acquisition, the director now owns 3,008,629 shares in the company, valued at $168,513,310.29. The trade was a 3.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Katherine Stueland sold 1,078 shares of GeneDx stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $89.44, for a total transaction of $96,416.32. Following the sale, the chief executive officer now owns 6,674 shares of the company's stock, valued at approximately $596,922.56. This trade represents a 13.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 139,390 shares of company stock valued at $13,043,288 over the last quarter. Company insiders own 29.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on WGS shares. The Goldman Sachs Group increased their target price on shares of GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Wells Fargo & Company reduced their price target 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. Guggenheim assumed coverage on GeneDx in a report on Thursday, May 15th. They set a "buy" rating and a $88.00 target price for the company. Jefferies Financial Group raised shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research report on Friday, May 9th. Finally, TD Securities lowered their price objective on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $86.75.

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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