Penserra Capital Management LLC Buys 10,501 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Penserra Capital Management LLC grew its holdings 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 filing with the Securities & Exchange Commission. The institutional investor owned 20,241 shares of the company's stock after purchasing an additional 10,501 shares during the period. Penserra Capital Management LLC owned about 0.07% of GeneDx worth $1,792,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of GeneDx by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company's stock worth $77,337,000 after acquiring an additional 156,768 shares in the last quarter. Summit Partners Public Asset Management LLC increased its stake in shares of GeneDx by 336.9% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock valued at $58,073,000 after purchasing an additional 582,619 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of GeneDx in the 4th quarter valued at $51,496,000. Lord Abbett & CO. LLC acquired a new position in shares of GeneDx during the 4th quarter worth $48,458,000. Finally, Fred Alger Management LLC lifted its position in shares of GeneDx by 38.5% during the 4th quarter. Fred Alger Management LLC now owns 546,054 shares of the company's stock worth $41,970,000 after buying an additional 151,824 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Trading Up 7.8%

Shares of WGS stock traded up $6.66 on Wednesday, hitting $91.88. The company had a trading volume of 1,081,105 shares, compared to its average volume of 821,133. The stock's 50-day moving average is $72.19 and its two-hundred day moving average is $82.51. GeneDx Holdings Corp. has a twelve month low of $25.32 and a twelve month high of $117.75. The firm has a market cap of $2.62 billion, a P/E ratio of -65.16 and a beta of 2.01. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.07 and a current ratio of 3.25.

GeneDx (NASDAQ:WGS - Get Free Report) last issued 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. 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 10.17% and a negative net margin of 11.69%. On average, equities research analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on WGS. Piper Sandler initiated coverage on shares of GeneDx in a research note on Wednesday. They issued an "overweight" rating and a $110.00 price target on the stock. TD Securities cut their target price on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company lowered their price target on shares of 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 price objective on the stock in a report on Friday, May 9th. Finally, Guggenheim restated a "buy" rating and set a $115.00 price objective (up previously from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $92.33.

Insider Activity

In related news, CEO Katherine Stueland sold 9,657 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $90.94, for a total transaction of $878,207.58. Following the transaction, the chief executive officer directly owned 4,940 shares of the company's stock, valued at approximately $449,243.60. This represents a 66.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith A. Meister acquired 100,000 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were purchased at an average price of $56.01 per share, with a total value of $5,601,000.00. Following the acquisition, the director owned 3,008,629 shares of the company's stock, valued at approximately $168,513,310.29. This represents a 3.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 13,913 shares of company stock worth $1,314,514 in the last quarter. 29.60% of the stock is owned by corporate insiders.

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.