ProShare Advisors LLC Takes $277,000 Position in GeneDx Holdings Corp. (NASDAQ:WGS)

ProShare Advisors LLC acquired a new stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,598 shares of the company's stock, valued at approximately $277,000.

Several other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC lifted its position in shares of GeneDx by 87.2% during the fourth quarter. SG Americas Securities LLC now owns 8,735 shares of the company's stock worth $671,000 after acquiring an additional 4,068 shares in the last quarter. PFG Investments LLC purchased a new stake in shares of GeneDx during the fourth quarter worth $252,000. Allspring Global Investments Holdings LLC lifted its position in shares of GeneDx by 50,832.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 90,151 shares of the company's stock worth $7,179,000 after acquiring an additional 89,974 shares in the last quarter. Legato Capital Management LLC lifted its position in shares of GeneDx by 88.0% during the fourth quarter. Legato Capital Management LLC now owns 27,691 shares of the company's stock worth $2,128,000 after acquiring an additional 12,961 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of GeneDx by 5.5% during the fourth quarter. Rhumbline Advisers now owns 19,750 shares of the company's stock worth $1,518,000 after acquiring an additional 1,021 shares in the last quarter. Hedge funds and other institutional investors own 61.72% of the company's stock.

Insider Buying and Selling

In other GeneDx news, CFO Kevin Feeley sold 370 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $71.26, for a total value of $26,366.20. Following the completion of the sale, the chief financial officer now directly owns 4,105 shares in the company, valued at $292,522.30. This trade represents a 8.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Katherine Stueland sold 10,559 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $96.71, for a total transaction of $1,021,160.89. Following the completion of the sale, the chief executive officer now owns 14,865 shares of the company's stock, valued at $1,437,594.15. This trade represents a 41.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 139,760 shares of company stock valued at $13,069,654 over the last ninety days. 29.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on WGS shares. Wells Fargo & Company dropped their target price 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 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. Jefferies Financial Group raised shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a report on Friday, May 9th. The Goldman Sachs Group upped their price target on shares of GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, TD Securities reduced their target price on GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $86.75.

GeneDx Trading Down 0.6%

Shares of NASDAQ WGS traded down $0.42 during trading hours on Wednesday, hitting $72.39. The company's stock had a trading volume of 616,407 shares, compared to its average volume of 772,284. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -36.93 and a beta of 1.96. GeneDx Holdings Corp. has a 12 month low of $23.88 and a 12 month high of $117.75. The business has a 50-day simple moving average of $80.52 and a 200-day simple moving average of $82.12.

GeneDx (NASDAQ:WGS - Get Free Report) last posted 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. The company had revenue of $87.12 million for the quarter, compared to analysts' expectations of $79.90 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. On average, analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

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.