Redwood Investment Management LLC Purchases Shares of 6,079 GeneDx Holdings Corp. (NASDAQ:WGS)

Redwood Investment Management LLC bought a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,079 shares of the company's stock, valued at approximately $467,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MCF Advisors LLC boosted its holdings in shares of GeneDx by 107.7% during 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 last quarter. Sterling Capital Management LLC lifted its position in GeneDx by 877.8% during the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company's stock worth $27,000 after buying an additional 316 shares in the last quarter. Global Retirement Partners LLC acquired a new position in GeneDx during the fourth quarter worth $28,000. Lazard Asset Management LLC purchased a new stake in GeneDx in the 4th quarter valued at $35,000. Finally, Comerica Bank acquired a new stake in shares of GeneDx in the 4th quarter worth $50,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WGS shares. Guggenheim initiated coverage on shares of GeneDx in a research report on Thursday, May 15th. They set a "buy" rating and a $88.00 price target on the stock. The Goldman Sachs Group boosted their target price on shares of GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. TD Securities dropped their price target on shares of GeneDx from $135.00 to $110.00 and set a "buy" rating for the company in a research note 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 report on Friday, May 9th. Finally, Wells Fargo & Company decreased their price objective on GeneDx from $105.00 to $78.00 and set an "equal weight" rating on the stock 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $86.75.

GeneDx Trading Up 1.8%

Shares of GeneDx stock traded up $1.22 on Thursday, reaching $69.00. The company had a trading volume of 195,795 shares, compared to its average volume of 760,662. The firm's 50 day moving average price is $85.72 and its two-hundred day moving average price is $82.39. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. GeneDx Holdings Corp. has a 52-week low of $19.16 and a 52-week high of $117.75. The firm has a market cap of $1.97 billion, a PE ratio of -35.17 and a beta of 1.96.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share 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 firm had revenue of $87.12 million during the quarter, compared to the consensus estimate of $79.90 million. Sell-side analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Kevin Feeley sold 388 shares of the firm's 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 transaction, the chief financial officer now owns 3,337 shares of the company's stock, valued at approximately $377,381.33. This trade represents a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Keith A. Meister bought 100,000 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average cost of $56.01 per share, for a total transaction of $5,601,000.00. Following the completion of the purchase, the director now owns 3,008,629 shares in the company, valued at $168,513,310.29. This trade represents a 3.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 139,390 shares of company stock valued at $13,043,288. 29.60% of the stock is currently owned by corporate insiders.

GeneDx 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.