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

Soleus Capital Management L.P. purchased a new position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,000 shares of the company's stock, valued at approximately $307,000.

A number of other large investors also recently modified their holdings of WGS. MCF Advisors LLC increased its stake in GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company's stock worth $27,000 after acquiring an additional 182 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of GeneDx by 877.8% in the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after purchasing an additional 316 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of GeneDx in the fourth quarter worth approximately $28,000. Lazard Asset Management LLC purchased a new stake in GeneDx in the fourth quarter valued at approximately $35,000. Finally, Comerica Bank bought a new stake in GeneDx during the fourth quarter valued at approximately $50,000. 61.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WGS has been the topic of a number of research analyst reports. 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. Wells Fargo & Company cut their target price on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Guggenheim started coverage on GeneDx in a research report on Thursday, May 15th. They set a "buy" rating and a $88.00 price target on the stock. The Goldman Sachs Group upped their price objective on 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 price objective on GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, GeneDx has a consensus rating of "Moderate Buy" and a consensus price target of $86.75.

Insider Activity

In other news, Director Keith A. Meister acquired 100,000 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were purchased at an average price of $56.01 per share, for a total transaction of $5,601,000.00. Following the completion of the transaction, the director now owns 3,008,629 shares of the company's stock, valued at $168,513,310.29. The trade was a 3.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Katherine Stueland sold 46,594 shares of the stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $89.62, for a total transaction of $4,175,754.28. Following the sale, the chief executive officer now owns 1,720 shares of the company's stock, valued at approximately $154,146.40. This represents a 96.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 139,390 shares of company stock valued at $13,043,288. 29.60% of the stock is currently owned by company insiders.

GeneDx Trading Down 0.7%

NASDAQ WGS traded down $0.45 during trading on Thursday, hitting $67.33. 827,577 shares of the company's stock traded hands, compared to its average volume of 765,335. The stock has a fifty day moving average of $85.72 and a two-hundred day moving average of $82.39. GeneDx Holdings Corp. has a 12-month low of $19.16 and a 12-month high of $117.75. The firm has a market cap of $1.92 billion, a P/E ratio of -34.35 and a beta of 1.96. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27.

GeneDx (NASDAQ:WGS - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, beating 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 company had revenue of $87.12 million during the quarter, compared to analyst estimates of $79.90 million. As a group, sell-side analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

About GeneDx

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.