GeneDx Holdings Corp. (NASDAQ:WGS) Shares Sold by Tidal Investments LLC

Tidal Investments LLC reduced its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 40.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,202 shares of the company's stock after selling 4,901 shares during the period. Tidal Investments LLC's holdings in GeneDx were worth $554,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Summit Partners Public Asset Management LLC boosted its holdings in GeneDx by 336.9% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock valued at $58,073,000 after purchasing an additional 582,619 shares during the period. Silvercrest Asset Management Group LLC acquired a new position in GeneDx in the 4th quarter valued at about $5,512,000. Redwood Investment Management LLC acquired a new position in GeneDx in the 4th quarter valued at about $467,000. Polar Asset Management Partners Inc. acquired a new position in GeneDx in the 4th quarter valued at about $1,007,000. Finally, ProShare Advisors LLC acquired a new position in GeneDx in the 4th quarter valued at about $277,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on WGS shares. Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research report on Friday, May 9th. Wells Fargo & Company lowered their price target on GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. TD Securities lowered their price target on GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Guggenheim initiated coverage on GeneDx in a report on Thursday, May 15th. They issued a "buy" rating and a $88.00 price target on the stock. Finally, The Goldman Sachs Group upped their price target on GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, GeneDx presently has an average rating of "Moderate Buy" and an average target price of $86.75.

GeneDx Price Performance

WGS stock traded up $2.91 on Monday, reaching $74.13. The company had a trading volume of 656,695 shares, compared to its average volume of 771,556. GeneDx Holdings Corp. has a 1 year low of $20.01 and a 1 year high of $117.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The company's fifty day moving average is $81.35 and its 200 day moving average is $82.26. The company has a market cap of $2.12 billion, a P/E ratio of -37.82 and a beta of 1.96.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) 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 firm had revenue of $87.12 million for the quarter, compared to analyst estimates of $79.90 million. On average, research analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insiders Place Their Bets

In other GeneDx news, Director Keith A. Meister purchased 100,000 shares of GeneDx stock in a transaction on Thursday, May 8th. The shares were bought at an average price of $56.01 per share, with a total value of $5,601,000.00. Following the purchase, the director now directly owns 3,008,629 shares in the company, valued at $168,513,310.29. This trade represents a 3.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Katherine Stueland sold 2,731 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 7,752 shares in the company, valued at approximately $734,346.96. This represents a 26.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 139,390 shares of company stock valued at $13,043,288 in the last quarter. 29.60% of the stock is currently owned by company insiders.

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.