Vanguard Group Inc. Increases Stake in GeneDx Holdings Corp. $WGS

Key Points

• Vanguard Group Inc. increased its stake in GeneDx Holdings Corp. by 2.5%, owning 1,031,326 shares worth approximately $91.34 million after acquiring an additional 25,116 shares.
• Institutional investors collectively hold 61.72% of GeneDx, with notable increases in stakes from firms like Wells Fargo and Barclays during the fourth quarter.
• GeneDx's stock price has been positively influenced by analysts, with a consensus rating of "Moderate Buy" and an average price target of $101.63, following significant earnings that surpassed expectations.

Vanguard Group Inc. boosted its holdings in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,031,326 shares of the company's stock after buying an additional 25,116 shares during the period. Vanguard Group Inc. owned approximately 3.67% of GeneDx worth $91,339,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Sterling Capital Management LLC raised its holdings in 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 period. GAMMA Investing LLC raised its holdings in GeneDx by 151.7% during the first quarter. GAMMA Investing LLC now owns 438 shares of the company's stock worth $39,000 after acquiring an additional 264 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of GeneDx in the fourth quarter valued at $35,000. US Bancorp DE increased its stake in shares of GeneDx by 3,223.5% during the 1st quarter. US Bancorp DE now owns 565 shares of the company's stock worth $50,000 after purchasing an additional 548 shares during the last quarter. Finally, Comerica Bank bought a new stake in GeneDx in the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 61.72% of the company's stock.

GeneDx Stock Up 2.9%

Shares of WGS stock traded up $3.63 on Wednesday, reaching $129.88. 221,718 shares of the company were exchanged, compared to its average volume of 1,055,300. GeneDx Holdings Corp. has a one year low of $28.86 and a one year high of $130.33. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 2,602.90 and a beta of 2.02. The company has a 50-day moving average of $96.19 and a 200-day moving average of $88.37. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.87 and a quick ratio of 2.70.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.40. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. The firm had revenue of $102.69 million during the quarter, compared to analysts' expectations of $86.00 million. GeneDx has set its FY 2025 guidance at EPS. Analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insiders Place Their Bets

In other GeneDx news, CEO Katherine Stueland sold 2,154 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 transaction of $226,837.74. Following the transaction, the chief executive officer directly owned 3,440 shares in the company, valued at approximately $362,266.40. This trade represents a 38.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Feeley sold 388 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $105.31, for a total transaction of $40,860.28. Following the completion of the transaction, the chief financial officer directly owned 3,757 shares in the company, valued at $395,649.67. This trade represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 522,411 shares of company stock valued at $62,535,051. Corporate insiders own 29.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on WGS. Piper Sandler set a $120.00 price objective on shares of GeneDx and gave the company an "overweight" rating in a report on Monday, August 4th. Wall Street Zen upgraded shares of GeneDx from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Jefferies Financial Group raised shares of GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a report on Friday, May 9th. Wells Fargo & Company raised their price target on GeneDx from $78.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Finally, TD Securities reduced their target price on GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $101.63.

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.