Freestone Grove Partners LP Takes Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Freestone Grove Partners LP purchased a new stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,791 shares of the company's stock, valued at approximately $445,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WGS. Barclays PLC boosted its holdings in GeneDx by 346.3% in the 3rd quarter. Barclays PLC now owns 18,921 shares of the company's stock valued at $803,000 after purchasing an additional 14,681 shares during the period. Tidal Investments LLC bought a new stake in GeneDx during the third quarter valued at $514,000. Principal Financial Group Inc. bought a new position in GeneDx in the 3rd quarter worth about $604,000. JPMorgan Chase & Co. raised its holdings in shares of GeneDx by 617.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 52,161 shares of the company's stock valued at $2,214,000 after acquiring an additional 44,889 shares in the last quarter. Finally, MCF Advisors LLC grew its holdings in shares of GeneDx by 107.7% during the fourth quarter. MCF Advisors LLC now owns 351 shares of the company's stock worth $27,000 after purchasing an additional 182 shares in the last quarter. Institutional investors own 61.72% of the company's stock.

GeneDx Stock Performance

NASDAQ:WGS traded down $2.89 on Tuesday, hitting $63.27. The stock had a trading volume of 1,694,225 shares, compared to its average volume of 725,267. The business's 50-day simple moving average is $92.89 and its two-hundred day simple moving average is $82.81. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -32.28 and a beta of 1.96. GeneDx Holdings Corp. has a 52-week low of $18.80 and a 52-week 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.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.17. The business had revenue of $87.12 million for the quarter, compared to analysts' expectations of $79.90 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. As a group, research analysts predict 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 2,731 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 completion of the sale, the chief executive officer now owns 7,752 shares in the company, valued at approximately $734,346.96. This represents a 26.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin Feeley sold 388 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $113.09, for a total value of $43,878.92. Following the completion of the transaction, the chief financial officer now owns 3,337 shares in the company, valued at $377,381.33. The trade was a 10.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 139,390 shares of company stock worth $13,043,288 over the last quarter. 27.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

WGS has been the subject of several research analyst reports. TD Securities dropped their target price on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group increased their target price on GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. TD Cowen upped their target price on GeneDx from $75.00 to $118.00 and gave the stock a "buy" rating in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company dropped their target price on GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $78.14.

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.