Penserra Capital Management LLC Has $1.79 Million Stock Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

Penserra Capital Management LLC raised its stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 107.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,241 shares of the company's stock after acquiring an additional 10,501 shares during the period. Penserra Capital Management LLC owned approximately 0.07% of GeneDx worth $1,792,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WGS. Sterling Capital Management LLC raised its holdings in shares of 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 buying an additional 316 shares in the last quarter. GAMMA Investing LLC grew its position 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 during the last quarter. Lazard Asset Management LLC bought a new stake in GeneDx during the 4th quarter worth $35,000. Comerica Bank bought a new stake in GeneDx during the 4th quarter worth $50,000. Finally, KBC Group NV bought a new stake in shares of GeneDx in the 1st quarter valued at about $81,000. 61.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WGS has been the topic of a number of analyst reports. Wall Street Zen upgraded GeneDx from a "hold" rating to a "buy" rating in a research report on Saturday. Wells Fargo & Company reduced their price target on GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Guggenheim reiterated a "buy" rating and issued a $115.00 price target (up previously from $88.00) on shares of GeneDx in a research report on Monday, June 30th. TD Securities reduced their price target on GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $90.13.

Insider Buying and Selling

In other news, CFO Kevin Feeley sold 1,344 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $91.12, for a total value of $122,465.28. Following the completion of the sale, the chief financial officer directly owned 7,425 shares of the company's stock, valued at $676,566. This represents a 15.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Keith A. Meister acquired 100,000 shares of the stock in a transaction dated Thursday, May 8th. The stock was bought at an average cost of $56.01 per share, with a total value of $5,601,000.00. Following the completion of the purchase, the director owned 3,008,629 shares of the company's stock, valued at approximately $168,513,310.29. The trade was a 3.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 13,913 shares of company stock valued at $1,314,514. 29.60% of the stock is owned by company insiders.

GeneDx Stock Down 0.6%

Shares of GeneDx stock opened at $85.22 on Wednesday. GeneDx Holdings Corp. has a one year low of $25.32 and a one year high of $117.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.25 and a quick ratio of 3.07. The stock's 50-day moving average is $72.19 and its 200 day moving average is $82.51. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of -60.44 and a beta of 2.01.

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

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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