GeneDx Holdings Corp. (NASDAQ:WGS) is Next Century Growth Investors LLC's 10th Largest Position

Next Century Growth Investors LLC raised its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 121.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 312,014 shares of the company's stock after acquiring an additional 170,901 shares during the period. GeneDx comprises approximately 1.8% of Next Century Growth Investors LLC's investment portfolio, making the stock its 10th largest holding. Next Century Growth Investors LLC owned 1.14% of GeneDx worth $23,981,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of WGS. William Blair Investment Management LLC bought a new stake in GeneDx during the fourth quarter worth $51,496,000. Zweig DiMenna Associates LLC purchased a new position in shares of GeneDx in the 4th quarter worth about $23,788,000. Raymond James Financial Inc. bought a new position in GeneDx during the fourth quarter valued at about $20,371,000. Invesco Ltd. grew its position in GeneDx by 4,382.2% during the fourth quarter. Invesco Ltd. now owns 255,351 shares of the company's stock valued at $19,626,000 after buying an additional 249,654 shares during the period. Finally, Vanguard Group Inc. increased its holdings in GeneDx by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company's stock worth $77,337,000 after buying an additional 156,768 shares during the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

GeneDx Stock Performance

Shares of NASDAQ WGS traded down $3.28 during mid-day trading on Thursday, hitting $95.00. The company had a trading volume of 369,594 shares, compared to its average volume of 677,650. The stock's 50-day moving average price is $92.69 and its 200-day moving average price is $79.08. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -49.06 and a beta of 1.93. 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 $8.63 and a 1 year high of $115.60.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $95.64 million for the quarter, compared to the consensus estimate of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. On average, sell-side analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Activity

In other GeneDx news, CFO Kevin Feeley sold 15,516 shares of the company's stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $92.18, for a total value of $1,430,264.88. Following the transaction, the chief financial officer now directly owns 1,726 shares in the company, valued at $159,102.68. This represents a 89.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Katherine Stueland sold 46,594 shares of GeneDx stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $89.62, for a total value of $4,175,754.28. Following the sale, the chief executive officer now owns 1,720 shares of the company's stock, valued at approximately $154,146.40. This trade represents a 96.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 138,780 shares of company stock worth $12,907,437 in the last three months. Corporate insiders own 27.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. TD Cowen increased their target price 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 upped their price objective on GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, GeneDx currently 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.