Panoramic Capital LLC Buys New Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

Panoramic Capital LLC purchased a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 51,294 shares of the company's stock, valued at approximately $3,942,000. GeneDx makes up about 2.1% of Panoramic Capital LLC's investment portfolio, making the stock its 14th biggest holding. Panoramic Capital LLC owned 0.19% of GeneDx at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WGS. MCF Advisors LLC increased its stake in GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company's stock valued at $27,000 after buying an additional 182 shares during the last quarter. Sterling Capital Management LLC boosted 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 worth $27,000 after buying an additional 316 shares during the period. Global Retirement Partners LLC acquired a new position in GeneDx in the 4th quarter valued at about $28,000. Lazard Asset Management LLC acquired a new position in GeneDx in the 4th quarter valued at about $35,000. Finally, Comerica Bank acquired a new position in GeneDx in the 4th quarter valued at about $50,000. 61.72% of the stock is owned by institutional investors.

GeneDx Price Performance

Shares of WGS stock traded up $4.70 during trading hours on Friday, reaching $68.31. The stock had a trading volume of 1,411,729 shares, compared to its average volume of 752,418. GeneDx Holdings Corp. has a 12 month low of $19.16 and a 12 month high of $117.75. The firm has a market capitalization of $1.95 billion, a PE ratio of -34.85 and a beta of 1.96. 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 stock's fifty day simple moving average is $87.10 and its 200 day simple moving average is $82.61.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.17. The business had revenue of $87.12 million for the quarter, compared to analyst estimates 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 research analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Analyst Ratings Changes

WGS has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price objective on shares of GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Guggenheim assumed coverage on shares of GeneDx in a research report on Thursday. They set a "buy" rating and a $88.00 price objective for the company. 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 target for the company in a research report on Friday, May 9th. Finally, Wells Fargo & Company decreased 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, GeneDx has an average rating of "Moderate Buy" and an average price target of $86.75.

Insider Buying and Selling at GeneDx

In related news, CFO Kevin Feeley sold 388 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 3,337 shares of the company's stock, valued at approximately $377,381.33. This represents a 10.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Katherine Stueland sold 2,731 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $94.73, for a total transaction of $258,707.63. Following the sale, the chief executive officer now directly owns 7,752 shares of the company's stock, valued at approximately $734,346.96. This trade represents a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 139,390 shares of company stock worth $13,043,288. Company insiders own 29.60% of the company's stock.

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.