Victory Capital Management Inc. Acquires Shares of 2,720 GeneDx Holdings Corp. (NASDAQ:WGS)

Victory Capital Management Inc. acquired a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,720 shares of the company's stock, valued at approximately $209,000.

A number of other large investors have also recently made changes to their positions in the company. MCF Advisors LLC raised its stake in GeneDx by 107.7% in the fourth quarter. MCF Advisors LLC now owns 351 shares of the company's stock valued at $27,000 after buying an additional 182 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in GeneDx during the fourth quarter worth approximately $28,000. Evolution Wealth Advisors LLC acquired a new position in GeneDx in the fourth quarter valued at approximately $202,000. Point72 DIFC Ltd acquired a new stake in GeneDx during the third quarter worth approximately $220,000. Finally, Ieq Capital LLC acquired a new position in shares of GeneDx in the 4th quarter valued at $220,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 10,559 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $96.71, for a total transaction of $1,021,160.89. Following the transaction, the chief executive officer now owns 14,865 shares in the company, valued at $1,437,594.15. The trade was a 41.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin Feeley sold 1,430 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.04, for a total value of $108,737.20. Following the completion of the sale, the chief financial officer now owns 26,770 shares of the company's stock, valued at approximately $2,035,590.80. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,735 shares of company stock worth $11,719,787. Company insiders own 27.30% of the company's stock.

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GeneDx Price Performance

Shares of WGS traded down $2.10 on Thursday, reaching $94.34. The stock had a trading volume of 567,414 shares, compared to its average volume of 624,572. The firm has a 50-day moving average of $86.30 and a 200 day moving average of $73.37. The firm has a market capitalization of $2.65 billion, a PE ratio of -48.13 and a beta of 1.91. GeneDx Holdings Corp. has a twelve month low of $8.49 and a twelve month high of $115.60. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its 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. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The firm had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. Sell-side analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on WGS shares. The Goldman Sachs Group upped 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 Cowen upped their price objective on GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $72.33.

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.