Voya Investment Management LLC Buys 3,021 Shares of GeneDx Holdings Corp. $WGS

Key Points

• Voya Investment Management LLC increased its stake in GeneDx Holdings Corp. by 79.5%, now owning 6,819 shares after purchasing an additional 3,021 shares worth approximately $604,000.
• Institutional investors collectively own 61.72% of GeneDx, with significant increases in stakes from firms like Ameriprise Financial and GAMMA Investing LLC during the first quarter.
• Analysts have a consensus rating of "Moderate Buy" for GeneDx, with price targets ranging from $95.00 to $140.00, indicating strong optimism about the stock's performance.

Voya Investment Management LLC boosted its stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 79.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,819 shares of the company's stock after purchasing an additional 3,021 shares during the period. Voya Investment Management LLC's holdings in GeneDx were worth $604,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. bought a new stake in GeneDx during the 4th quarter valued at $2,645,000. Raymond James Financial Inc. increased its position in shares of GeneDx by 25.8% in the first quarter. Raymond James Financial Inc. now owns 333,376 shares of the company's stock valued at $29,525,000 after acquiring an additional 68,331 shares during the period. GAMMA Investing LLC increased its position in shares of GeneDx by 22,194.3% in the first quarter. GAMMA Investing LLC now owns 38,792 shares of the company's stock valued at $3,436,000 after acquiring an additional 38,618 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of GeneDx by 111.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 190,297 shares of the company's stock valued at $16,097,000 after acquiring an additional 100,146 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of GeneDx by 120.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,849 shares of the company's stock worth $1,295,000 after purchasing an additional 9,202 shares during the period. Hedge funds and other institutional investors own 61.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WGS shares. Guggenheim restated a "buy" rating and set a $115.00 price target (up previously from $88.00) on shares of GeneDx in a report on Monday, June 30th. Wall Street Zen upgraded GeneDx from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Piper Sandler boosted their target price on GeneDx from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. Finally, 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 note on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, GeneDx has a consensus rating of "Moderate Buy" and a consensus target price of $104.13.

Insider Activity

In other news, CFO Kevin Feeley sold 5,278 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $93.00, for a total transaction of $490,854.00. Following the sale, the chief financial officer owned 3,392 shares in the company, valued at $315,456. This represents a 60.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Katherine Stueland sold 10,501 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $121.47, for a total transaction of $1,275,556.47. Following the sale, the chief executive officer directly owned 14,578 shares of the company's stock, valued at $1,770,789.66. This trade represents a 41.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 575,870 shares of company stock worth $69,280,301. 29.60% of the stock is currently owned by company insiders.

GeneDx Trading Down 1.1%

NASDAQ:WGS opened at $112.96 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.87 and a quick ratio of 2.70. The firm has a market capitalization of $3.25 billion, a P/E ratio of 2,259.20 and a beta of 2.04. The company's 50-day simple moving average is $114.69 and its 200 day simple moving average is $93.53. GeneDx Holdings Corp. has a one year low of $36.85 and a one year high of $136.00.

GeneDx (NASDAQ:WGS - Get Free Report) last announced 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 return on equity of 16.51% and a net margin of 0.39%.The business 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. As a group, analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding WGS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GeneDx Holdings Corp. (NASDAQ:WGS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.