Palisades Investment Partners LLC Makes New $6.43 Million Investment in GeneDx Holdings Corp. (NASDAQ:WGS)

Palisades Investment Partners LLC bought a new stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 83,604 shares of the company's stock, valued at approximately $6,425,000. GeneDx comprises about 2.7% of Palisades Investment Partners LLC's portfolio, making the stock its 14th biggest holding. Palisades Investment Partners LLC owned 0.30% of GeneDx as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of WGS. MCF Advisors LLC lifted its stake in shares of GeneDx by 107.7% in the fourth quarter. MCF Advisors LLC now owns 351 shares of the company's stock worth $27,000 after acquiring an additional 182 shares in the last quarter. Sterling Capital Management LLC increased its holdings in GeneDx by 877.8% in the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after buying an additional 316 shares during the last quarter. Global Retirement Partners LLC bought a new stake in GeneDx in the fourth quarter valued at about $28,000. Lazard Asset Management LLC bought a new stake in GeneDx in the fourth quarter valued at about $35,000. Finally, Comerica Bank bought a new stake in GeneDx in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 61.72% of the company's stock.

GeneDx Stock Performance

Shares of NASDAQ WGS traded up $0.28 during midday trading on Tuesday, hitting $71.88. 277,445 shares of the company's stock were exchanged, compared to its average volume of 766,654. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The stock's 50 day moving average price is $84.28 and its 200-day moving average price is $82.37. The firm has a market cap of $2.05 billion, a P/E ratio of -36.63 and a beta of 1.96. GeneDx Holdings Corp. has a twelve month low of $19.54 and a twelve month high of $117.75.

GeneDx (NASDAQ:WGS - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, topping 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 3.33% and a negative net margin of 17.12%. Equities research analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WGS shares. The Goldman Sachs Group boosted their price objective on GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. TD Securities lowered their target price on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company lowered their target price on GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Jefferies Financial Group raised GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a report on Friday, May 9th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $86.75.

Insider Activity

In other news, CFO Kevin Feeley sold 388 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $113.09, for a total value of $43,878.92. Following the transaction, the chief financial officer now directly owns 3,337 shares of the company's stock, valued at approximately $377,381.33. This represents a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Keith A. Meister purchased 100,000 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was bought at an average cost of $56.01 per share, for a total transaction of $5,601,000.00. Following the completion of the purchase, the director now directly owns 3,008,629 shares of the company's stock, valued at $168,513,310.29. The trade was a 3.44% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 139,390 shares of company stock worth $13,043,288. 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.