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

Penserra Capital Management LLC grew its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 107.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,241 shares of the company's stock after buying an additional 10,501 shares during the period. Penserra Capital Management LLC owned approximately 0.07% of GeneDx worth $1,792,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Sterling Capital Management LLC boosted its holdings in shares of 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 period. Lazard Asset Management LLC bought a new stake in GeneDx during the fourth quarter worth about $35,000. GAMMA Investing LLC grew its stake in GeneDx by 151.7% in the first quarter. GAMMA Investing LLC now owns 438 shares of the company's stock valued at $39,000 after purchasing an additional 264 shares in the last quarter. Comerica Bank bought a new stake in shares of GeneDx during the 4th quarter worth approximately $50,000. Finally, Quarry LP acquired a new stake in shares of GeneDx in the 4th quarter valued at approximately $78,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have 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. Wall Street Zen upgraded GeneDx from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. TD Securities dropped their price target on GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company dropped their price objective on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Finally, Piper Sandler assumed coverage on shares of GeneDx in a report on Wednesday. They set an "overweight" rating and a $110.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $92.33.

GeneDx Stock Performance

Shares of NASDAQ:WGS traded down $4.35 on Friday, reaching $82.56. 888,098 shares of the company's stock were exchanged, compared to its average volume of 828,620. The company has a current ratio of 3.25, a quick ratio of 3.07 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -58.55 and a beta of 2.01. The company has a fifty day moving average of $73.49 and a 200-day moving average of $82.72. GeneDx Holdings Corp. has a twelve month low of $25.32 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 (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $87.12 million for the quarter, compared to analyst estimates of $79.90 million. On average, research analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Activity at GeneDx

In related news, CEO Katherine Stueland sold 9,657 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $90.94, for a total value of $878,207.58. Following the sale, the chief executive officer directly owned 4,940 shares of the company's stock, valued at $449,243.60. This trade represents a 66.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin Feeley sold 5,278 shares of GeneDx stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $93.00, for a total value of $490,854.00. Following the completion of the transaction, the chief financial officer owned 3,392 shares in the company, valued at approximately $315,456. This represents a 60.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,411 shares of company stock valued at $2,104,828 over the last three months. 29.60% of the stock is owned by 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.