GeneDx Holdings Corp. (NASDAQ:WGS) Shares Acquired by Nicholas Investment Partners LP

Nicholas Investment Partners LP grew its position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,049 shares of the company's stock after buying an additional 27,712 shares during the quarter. Nicholas Investment Partners LP owned 0.35% of GeneDx worth $7,459,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. MCF Advisors LLC raised its holdings in shares of GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company's stock worth $27,000 after purchasing an additional 182 shares during the period. Sterling Capital Management LLC raised its holdings in shares of GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock valued at $27,000 after buying an additional 316 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of GeneDx during the 4th quarter valued at about $28,000. MetLife Investment Management LLC increased its holdings in GeneDx by 6.2% during the 4th quarter. MetLife Investment Management LLC now owns 7,750 shares of the company's stock worth $596,000 after purchasing an additional 453 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in GeneDx during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 61.72% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on WGS. Jefferies Financial Group upgraded GeneDx from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research report on Friday, May 9th. The Goldman Sachs Group lifted their price target on GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. TD Securities lowered their target price on GeneDx from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Guggenheim initiated coverage on GeneDx in a research report on Thursday. They set a "buy" rating and a $88.00 price objective for the company. Finally, Wells Fargo & Company cut their price target on GeneDx from $105.00 to $78.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $86.75.

Insider Transactions at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 46,594 shares of the company's stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $89.62, for a total transaction of $4,175,754.28. Following the completion of the transaction, the chief executive officer now owns 1,720 shares in the company, valued at approximately $154,146.40. This represents a 96.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith A. Meister bought 100,000 shares of the company'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 acquisition, the director now directly owns 3,008,629 shares in the company, valued at $168,513,310.29. This represents a 3.44% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 139,390 shares of company stock worth $13,043,288 over the last 90 days. 29.60% of the stock is currently owned by company insiders.

GeneDx Stock Performance

NASDAQ:WGS traded up $0.08 during trading hours on Monday, reaching $68.39. The company had a trading volume of 937,157 shares, compared to its average volume of 754,950. GeneDx Holdings Corp. has a 52 week low of $19.16 and a 52 week high of $117.75. The firm's 50 day moving average price is $87.10 and its 200-day moving average price is $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. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -35.09 and a beta of 1.96.

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

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.