Silvercrest Asset Management Group LLC acquired a new position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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 quarter.
Several other large investors have also recently bought and sold shares of WGS. Envestnet Asset Management Inc. acquired a new position in GeneDx during the fourth quarter worth $380,000. Prudential Financial Inc. bought a new position in shares of GeneDx in the fourth quarter worth about $7,938,000. Voya Investment Management LLC bought a new position in shares of GeneDx in the fourth quarter worth about $292,000. JPMorgan Chase & Co. raised its position in GeneDx by 617.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 52,161 shares of the company's stock worth $2,214,000 after purchasing an additional 44,889 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of GeneDx during the fourth quarter worth approximately $20,371,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, Director Keith A. Meister bought 100,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was bought at an average price of $56.01 per share, with a total value of $5,601,000.00. Following the acquisition, the director now owns 3,008,629 shares of the company's stock, valued at approximately $168,513,310.29. This represents a 3.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Katherine Stueland sold 2,731 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $94.73, for a total value of $258,707.63. Following the completion of the transaction, the chief executive officer now owns 7,752 shares of the company's stock, valued at $734,346.96. The trade was a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,390 shares of company stock worth $13,043,288. 29.60% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the stock. TD Securities lowered 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. Wells Fargo & Company reduced their price objective on GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. The Goldman Sachs Group upped their price objective on shares of GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research report on Friday, May 9th. Finally, Guggenheim started coverage on GeneDx in a research report on Thursday, May 15th. They set a "buy" rating and a $88.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $86.75.
Check Out Our Latest Stock Report on WGS
GeneDx Stock Performance
Shares of WGS stock traded up $4.27 during trading on Friday, hitting $71.60. The company's stock had a trading volume of 660,629 shares, compared to its average volume of 767,026. GeneDx Holdings Corp. has a 52 week low of $19.49 and a 52 week high of $117.75. The business has a fifty day moving average of $84.79 and a 200-day moving average of $82.32. The company has a market cap of $2.04 billion, a PE ratio of -36.53 and a beta of 1.96. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25.
GeneDx (NASDAQ:WGS - Get Free Report) last announced 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 firm had revenue of $87.12 million during the quarter, compared to the consensus estimate 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, research analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.
About GeneDx
(
Free Report)
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.
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