PharVision Advisers LLC Makes New $301,000 Investment in GeneDx Holdings Corp. (NASDAQ:WGS)

PharVision Advisers LLC purchased a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,910 shares of the company's stock, valued at approximately $301,000.

A number of other large investors have also made changes to their positions in the business. MCF Advisors LLC increased its stake in GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company's stock valued at $27,000 after purchasing an additional 182 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of GeneDx by 877.8% in the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after acquiring an additional 316 shares during the period. Global Retirement Partners LLC acquired a new position in shares of GeneDx in the 4th quarter valued at $28,000. Lazard Asset Management LLC acquired a new position in shares of GeneDx in the 4th quarter valued at $35,000. Finally, Comerica Bank acquired a new position in shares of GeneDx in the 4th quarter valued at $50,000. 61.72% of the stock is owned by institutional investors and hedge funds.

GeneDx Stock Performance

Shares of NASDAQ WGS traded up $4.27 during midday trading on Friday, reaching $71.60. 660,629 shares of the stock were exchanged, compared to its average volume of 768,557. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -36.53 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. The firm has a 50-day simple moving average of $84.79 and a two-hundred day simple moving average of $82.36. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

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

Insider Activity

In related news, Director Keith A. Meister purchased 100,000 shares of the company's stock in a transaction that occurred on 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 purchase, the director now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Katherine Stueland sold 2,154 shares of GeneDx stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $113.09, for a total transaction of $243,595.86. Following the completion of the sale, the chief executive officer now directly owns 3,440 shares in the company, valued at $389,029.60. This represents a 38.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 139,390 shares of company stock worth $13,043,288 in the last ninety days. Company insiders own 29.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. TD Securities cut their price target on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Guggenheim started coverage on shares of GeneDx in a report on Thursday, May 15th. They issued a "buy" rating and a $88.00 price target on the stock. The Goldman Sachs Group increased their price objective on shares of GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group upgraded shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, GeneDx currently has an average rating of "Moderate Buy" and a consensus price target of $86.75.

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.