Two Sigma Advisers LP acquired a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,242 shares of the company's stock, valued at approximately $3,324,000. Two Sigma Advisers LP owned about 0.16% of GeneDx as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of WGS. William Blair Investment Management LLC bought a new stake in shares of GeneDx during the 4th quarter valued at $51,496,000. Lord Abbett & CO. LLC purchased a new stake in GeneDx in the 4th quarter worth approximately $48,458,000. Summit Partners Public Asset Management LLC raised its stake in GeneDx by 336.9% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company's stock worth $58,073,000 after acquiring an additional 582,619 shares during the period. Science & Technology Partners L.P. purchased a new position in GeneDx during the fourth quarter valued at approximately $30,821,000. Finally, Raymond James Financial Inc. purchased a new position in GeneDx during the fourth quarter valued at approximately $20,371,000. Institutional investors own 61.72% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on WGS. TD Securities decreased their price objective on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group boosted their price objective on GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Wells Fargo & Company cut their target price on GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Jefferies Financial Group raised 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. Finally, Guggenheim assumed coverage on shares of GeneDx in a 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 given a buy rating to the stock. According to MarketBeat.com, GeneDx currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.75.
Check Out Our Latest Research Report on GeneDx
Insider Activity at GeneDx
In other GeneDx news, CFO Kevin Feeley sold 922 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $94.72, for a total value of $87,331.84. Following the sale, the chief financial officer now owns 5,446 shares in the company, valued at $515,845.12. This trade represents a 14.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Katherine Stueland sold 10,559 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $96.71, for a total transaction of $1,021,160.89. Following the sale, the chief executive officer now directly owns 14,865 shares of the company's stock, valued at $1,437,594.15. This represents a 41.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 139,390 shares of company stock worth $13,043,288. Company insiders own 29.60% of the company's stock.
GeneDx Price Performance
GeneDx stock traded up $0.97 during midday trading on Friday, reaching $70.95. 373,321 shares of the stock traded hands, compared to its average volume of 767,408. The stock's fifty day moving average is $82.39 and its 200-day moving average is $82.17. GeneDx Holdings Corp. has a 12 month low of $19.54 and a 12 month high of $117.75. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.02 billion, a P/E ratio of -36.24 and a beta of 1.96.
GeneDx (NASDAQ:WGS - Get Free Report) last released its quarterly 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 negative net margin of 17.12% and a positive return on equity of 3.33%. The company had revenue of $87.12 million for the quarter, compared to the consensus estimate of $79.90 million. As a group, equities research analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current year.
GeneDx Profile
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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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