Russell Investments Group Ltd. Grows Holdings in GeneDx Holdings Corp. $WGS

Key Points

• Russell Investments Group Ltd. increased its stake in GeneDx Holdings Corp. by 2.8% during the first quarter, owning approximately 0.39% of the company worth $9.6 million after purchasing additional shares.
• GeneDx reported a quarterly EPS of $0.50, significantly exceeding estimates, along with revenue of $102.69 million, surpassing expected figures of $86 million.
• Insider sales include CEO Katherine Stueland selling 2,154 shares at an average price of $105.31, representing a 38.51% decrease in her ownership of the stock.

Russell Investments Group Ltd. grew its position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 2.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,368 shares of the company's stock after purchasing an additional 2,955 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.39% of GeneDx worth $9,598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new stake in shares of GeneDx in the 1st quarter valued at $17,528,000. Virtu Financial LLC acquired a new stake in shares of GeneDx in the 1st quarter valued at $321,000. Invesco Ltd. raised its holdings in shares of GeneDx by 52.6% in the 1st quarter. Invesco Ltd. now owns 389,579 shares of the company's stock valued at $34,503,000 after purchasing an additional 134,228 shares in the last quarter. Swiss National Bank raised its holdings in shares of GeneDx by 34.0% in the 1st quarter. Swiss National Bank now owns 31,900 shares of the company's stock valued at $2,825,000 after purchasing an additional 8,100 shares in the last quarter. Finally, Telemark Asset Management LLC acquired a new stake in shares of GeneDx in the 1st quarter valued at $8,856,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WGS has been the topic of a number of analyst reports. Guggenheim restated a "buy" rating and issued a $115.00 price objective (up from $88.00) on shares of GeneDx in a report on Monday, June 30th. Piper Sandler set a $120.00 price objective on shares of GeneDx and gave the stock an "overweight" rating in a research report on Monday, August 4th. Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. TD Securities reduced their price objective on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Jefferies Financial Group upgraded shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research report on Friday, May 9th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, GeneDx presently has an average rating of "Moderate Buy" and a consensus target price of $101.63.

Insiders Place Their Bets

In other news, CEO Katherine Stueland sold 9,657 shares of GeneDx stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $90.94, for a total value of $878,207.58. Following the transaction, the chief executive officer directly owned 4,940 shares of the company's stock, valued at $449,243.60. The trade was a 66.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin Feeley sold 5,278 shares of the business's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $93.00, for a total transaction of $490,854.00. Following the sale, the chief financial officer owned 3,392 shares in the company, valued at $315,456. The trade was a 60.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,411 shares of company stock worth $2,085,051 over the last ninety days. Corporate insiders own 29.60% of the company's stock.

GeneDx Stock Performance

Shares of GeneDx stock traded up $7.94 during trading on Friday, reaching $128.66. The company's stock had a trading volume of 1,676,175 shares, compared to its average volume of 1,067,584. The company has a 50-day moving average price of $92.57 and a two-hundred day moving average price of $86.96. The firm has a market cap of $3.70 billion, a PE ratio of 2,573.20 and a beta of 2.02. GeneDx Holdings Corp. has a fifty-two week low of $28.86 and a fifty-two week high of $130.33. The company has a current ratio of 2.87, a quick ratio of 2.70 and a debt-to-equity ratio of 0.19.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.40. The business had revenue of $102.69 million for the quarter, compared to analysts' expectations of $86.00 million. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. GeneDx has set its FY 2025 guidance at EPS. On average, analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

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.