Invesco Ltd. Acquires 249,654 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Invesco Ltd. raised its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 4,382.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 255,351 shares of the company's stock after acquiring an additional 249,654 shares during the period. Invesco Ltd. owned about 0.93% of GeneDx worth $19,626,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MCF Advisors LLC grew its position in GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company's stock worth $27,000 after acquiring an additional 182 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of GeneDx in the fourth quarter worth approximately $28,000. KLP Kapitalforvaltning AS purchased a new position in shares of GeneDx in the fourth quarter worth $200,000. Evolution Wealth Advisors LLC bought a new stake in GeneDx during the 4th quarter valued at $202,000. Finally, Victory Capital Management Inc. purchased a new stake in GeneDx during the 4th quarter valued at $209,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

GeneDx Stock Up 0.5 %

WGS traded up $0.51 on Thursday, hitting $106.20. The company had a trading volume of 256,789 shares, compared to its average volume of 690,917. GeneDx Holdings Corp. has a 52-week low of $10.70 and a 52-week high of $115.60. The stock has a fifty day simple moving average of $95.15 and a 200-day simple moving average of $80.85. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The firm has a market capitalization of $2.98 billion, a P/E ratio of -54.35 and a beta of 1.93.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The business had revenue of $95.64 million during the quarter, compared to the consensus estimate of $82.24 million. As a group, equities analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Activity at GeneDx

In related news, CFO Kevin Feeley sold 15,516 shares of the stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $92.18, for a total transaction of $1,430,264.88. Following the sale, the chief financial officer now directly owns 1,726 shares of the company's stock, valued at approximately $159,102.68. This represents a 89.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Katherine Stueland sold 1,657 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $78.48, for a total transaction of $130,041.36. Following the sale, the chief executive officer now owns 3,937 shares in the company, valued at approximately $308,975.76. The trade was a 29.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 138,780 shares of company stock valued at $12,907,437 in the last three months. Company insiders own 27.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. TD Cowen boosted their price objective on shares of GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. The Goldman Sachs Group increased their price objective on GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, GeneDx presently has an average rating of "Moderate Buy" and an average price target of $72.33.

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.