Soleus Capital Management L.P. Purchases Shares of 4,000 GeneDx Holdings Corp. (NASDAQ:WGS)

Soleus Capital Management L.P. acquired a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 4,000 shares of the company's stock, valued at approximately $307,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. MCF Advisors LLC raised its stake in shares of 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 during the period. Sterling Capital Management LLC raised its stake in shares of GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after purchasing an additional 316 shares during the period. Global Retirement Partners LLC bought a new stake in shares of GeneDx during the 4th quarter valued at $28,000. MetLife Investment Management LLC raised its stake in shares of GeneDx by 6.2% during the 4th quarter. MetLife Investment Management LLC now owns 7,750 shares of the company's stock valued at $596,000 after purchasing an additional 453 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of GeneDx during the 4th quarter valued at $35,000. 61.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company decreased their price objective on GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. TD Securities reduced their target price on GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group boosted their target price on 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 initiated coverage on GeneDx in a research report on Thursday, May 15th. They set a "buy" rating and a $88.00 target price for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $86.75.

GeneDx Price Performance

Shares of WGS traded up $4.27 during midday trading on Friday, reaching $71.60. The stock had a trading volume of 660,629 shares, compared to its average volume of 767,026. The company's 50-day moving average is $84.79 and its 200 day moving average is $82.32. GeneDx Holdings Corp. has a 12-month low of $19.49 and a 12-month high of $117.75. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -36.53 and a beta of 1.96.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.17. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The firm had revenue of $87.12 million during the quarter, compared to analysts' expectations of $79.90 million. On average, equities analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Transactions at GeneDx

In other GeneDx news, Director Keith A. Meister purchased 100,000 shares of the stock in a transaction on Thursday, May 8th. The stock was acquired at an average price of $56.01 per share, with a total value of $5,601,000.00. Following the transaction, the director now directly owns 3,008,629 shares of the company's stock, valued at approximately $168,513,310.29. This trade represents a 3.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin Feeley sold 922 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $94.72, for a total value of $87,331.84. Following the transaction, the chief financial officer now directly owns 5,446 shares of the company's stock, valued at $515,845.12. The trade was a 14.48% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 139,390 shares of company stock worth $13,043,288. 29.60% of the stock is currently owned by corporate insiders.

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.