Thoroughbred Financial Services LLC Increases Stock Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

Thoroughbred Financial Services LLC increased its stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 50.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,915 shares of the company's stock after buying an additional 2,665 shares during the quarter. Thoroughbred Financial Services LLC's holdings in GeneDx were worth $700,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in WGS. Ameriprise Financial Inc. acquired a new position in shares of GeneDx in the 4th quarter valued at about $2,645,000. Envestnet Asset Management Inc. bought a new position in shares of GeneDx during the fourth quarter valued at $380,000. Voya Investment Management LLC bought a new position in shares of GeneDx in the fourth quarter valued at approximately $292,000. GAMMA Investing LLC grew its stake in shares of GeneDx by 22,194.3% during the first quarter. GAMMA Investing LLC now owns 38,792 shares of the company's stock valued at $3,436,000 after purchasing an additional 38,618 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in GeneDx by 111.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 190,297 shares of the company's stock valued at $16,097,000 after buying an additional 100,146 shares during the period. 61.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on WGS. Guggenheim reaffirmed a "buy" rating and set a $115.00 price target (up from $88.00) on shares of GeneDx in a research note on Monday, June 30th. TD Securities reduced their price objective on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Jefferies Financial Group upgraded shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a report on Friday, May 9th. Wall Street Zen raised GeneDx from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Piper Sandler set a $120.00 price objective on shares of GeneDx and gave the stock an "overweight" rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $101.63.

Insider Activity

In other GeneDx news, CFO Kevin Feeley sold 388 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $105.31, for a total value of $40,860.28. Following the transaction, the chief financial officer owned 3,757 shares in the company, valued at approximately $395,649.67. This trade represents a 9.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 2,154 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $105.31, for a total value of $226,837.74. Following the completion of the sale, the chief executive officer directly owned 3,440 shares of the company's stock, valued at approximately $362,266.40. This represents a 38.51% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,411 shares of company stock worth $2,085,051. 29.60% of the stock is owned by corporate insiders.

GeneDx Trading Down 0.8%

Shares of NASDAQ WGS traded down $0.82 during midday trading on Friday, hitting $105.13. The company's stock had a trading volume of 417,351 shares, compared to its average volume of 980,924. The business's 50 day moving average is $83.61 and its two-hundred day moving average is $84.19. 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 Holdings Corp. has a 12-month low of $28.86 and a 12-month high of $117.75. The firm has a market cap of $3.00 billion, a P/E ratio of 2,102.60 and a beta of 2.02.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.10 by $0.40. The firm had revenue of $102.69 million during the quarter, compared to analyst estimates of $86.00 million. GeneDx had a return on equity of 16.51% and a net margin of 0.39%. As a group, equities research 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.