Northern Trust Corp Buys 29,608 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Northern Trust Corp increased its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 19.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,651 shares of the company's stock after acquiring an additional 29,608 shares during the period. Northern Trust Corp owned about 0.65% of GeneDx worth $13,808,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Tudor Investment Corp ET AL lifted its holdings in GeneDx by 67.7% during the 4th quarter. Tudor Investment Corp ET AL now owns 101,810 shares of the company's stock worth $7,825,000 after buying an additional 41,084 shares in the last quarter. Quarry LP acquired a new position in shares of GeneDx in the 4th quarter valued at $78,000. Tri Locum Partners LP acquired a new position in shares of GeneDx in the 4th quarter valued at $9,805,000. Aquatic Capital Management LLC acquired a new position in shares of GeneDx in the 4th quarter valued at $374,000. Finally, Nebula Research & Development LLC acquired a new position in shares of GeneDx in the 4th quarter valued at $378,000. 61.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WGS. The Goldman Sachs Group increased their price target on GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Wells Fargo & Company lowered their price objective on shares of GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. TD Securities lowered their price objective 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. Jefferies Financial Group upgraded shares of 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, Guggenheim assumed coverage on shares of GeneDx in a research report on Thursday. They issued a "buy" rating and a $88.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.75.

Insider Activity

In other news, Director Keith A. Meister purchased 100,000 shares of the business's stock in a transaction on Thursday, May 8th. The shares were acquired at an average price of $56.01 per share, with a total value of $5,601,000.00. Following the completion of the transaction, the director now owns 3,008,629 shares of the company's stock, valued at $168,513,310.29. The trade was a 3.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Feeley sold 922 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $94.72, for a total transaction of $87,331.84. Following the completion of the sale, the chief financial officer now owns 5,446 shares in the company, valued at $515,845.12. This represents a 14.48% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 139,390 shares of company stock worth $13,043,288. Corporate insiders own 29.60% of the company's stock.

GeneDx Stock Up 4.0%

Shares of NASDAQ WGS traded up $2.71 during mid-day trading on Monday, hitting $71.02. The company had a trading volume of 1,640,880 shares, compared to its average volume of 757,598. The company has a market capitalization of $2.03 billion, a PE ratio of -36.23 and a beta of 1.96. The firm has a 50-day simple moving average of $87.10 and a two-hundred day simple moving average of $82.61. 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 one year low of $19.16 and a one year high of $117.75.

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

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.