Wellington Management Group LLP Makes New Investment in GeneDx Holdings Corp. (NASDAQ:WGS)

Wellington Management Group LLP bought a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 140,792 shares of the company's stock, valued at approximately $10,821,000. Wellington Management Group LLP owned 0.50% of GeneDx at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Ameriprise Financial Inc. acquired a new stake in GeneDx during the 4th quarter worth $2,645,000. Envestnet Asset Management Inc. acquired a new stake in shares of GeneDx during the fourth quarter worth about $380,000. Prudential Financial Inc. bought a new position in shares of GeneDx during the 4th quarter valued at about $7,938,000. Voya Investment Management LLC acquired a new position in shares of GeneDx in the 4th quarter valued at approximately $292,000. Finally, Nuveen Asset Management LLC increased its stake in GeneDx by 1.6% during the 4th quarter. Nuveen Asset Management LLC now owns 197,365 shares of the company's stock worth $15,169,000 after purchasing an additional 3,084 shares in the last quarter. Institutional investors own 61.72% of the company's stock.

GeneDx Stock Performance

Shares of NASDAQ:WGS traded down $0.42 on Wednesday, hitting $72.39. The company had a trading volume of 616,407 shares, compared to its average volume of 771,474. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -36.93 and a beta of 1.96. The stock has a 50 day moving average price of $80.92 and a 200 day moving average price of $82.19. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. GeneDx Holdings Corp. has a 1-year low of $21.13 and a 1-year high of $117.75.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.17. The firm had revenue of $87.12 million for the quarter, compared to analyst estimates of $79.90 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. Analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Buying and Selling at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 922 shares of GeneDx stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $94.72, for a total value of $87,331.84. Following the transaction, the chief financial officer now owns 5,446 shares in the company, valued at $515,845.12. The trade was a 14.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Keith A. Meister bought 100,000 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was bought at an average cost of $56.01 per share, with a total value of $5,601,000.00. Following the acquisition, the director now directly owns 3,008,629 shares of the company's stock, valued at approximately $168,513,310.29. The trade was a 3.44% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 139,760 shares of company stock valued at $13,069,654. 29.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.