Silvercrest Asset Management Group LLC Invests $5.51 Million in GeneDx Holdings Corp. (NASDAQ:WGS)

Silvercrest Asset Management Group LLC purchased a new stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 71,709 shares of the company's stock, valued at approximately $5,512,000. Silvercrest Asset Management Group LLC owned about 0.26% of GeneDx at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. MCF Advisors LLC raised its position in GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company's stock worth $27,000 after buying an additional 182 shares during the last quarter. Sterling Capital Management LLC raised its position in GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after buying an additional 316 shares during the last quarter. Global Retirement Partners LLC purchased a new position in GeneDx during the 4th quarter worth $28,000. Lazard Asset Management LLC purchased a new position in GeneDx during the 4th quarter worth $35,000. Finally, Comerica Bank purchased a new position in GeneDx during the 4th quarter worth $50,000. Hedge funds and other institutional investors own 61.72% of the company's stock.

Insider Activity at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $113.09, for a total transaction of $243,595.86. Following the sale, the chief executive officer now directly owns 3,440 shares of the company's stock, valued at $389,029.60. This trade represents a 38.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Feeley sold 388 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $113.09, for a total transaction of $43,878.92. Following the sale, the chief financial officer now directly owns 3,337 shares in the company, valued at $377,381.33. This represents a 10.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 139,390 shares of company stock valued at $13,043,288. Insiders own 29.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on WGS shares. Guggenheim started coverage on shares of GeneDx in a research report on Thursday, May 15th. They set a "buy" rating and a $88.00 price objective for the company. Wells Fargo & Company cut 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. TD Securities cut their price target on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, May 1st. The Goldman Sachs Group increased their price target on shares of GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a report 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 target for the company in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, GeneDx presently has a consensus rating of "Moderate Buy" and an average price target of $86.75.

GeneDx Price Performance

NASDAQ WGS traded up $4.27 during trading hours on Friday, reaching $71.60. The company's stock had a trading volume of 660,629 shares, compared to its average volume of 768,557. The stock has a market cap of $2.04 billion, a PE ratio of -36.53 and a beta of 1.96. GeneDx Holdings Corp. has a fifty-two week low of $19.54 and a fifty-two week high of $117.75. The company's 50-day moving average is $84.79 and its two-hundred day moving average is $82.36. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.17. The firm had revenue of $87.12 million for the quarter, compared to analysts' expectations of $79.90 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. 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.