Arizona State Retirement System Invests $269,000 in GeneDx Holdings Corp. (NASDAQ:WGS)

Arizona State Retirement System bought a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,501 shares of the company's stock, valued at approximately $269,000.

Several other large investors have also recently made changes to their positions in the company. MCF Advisors LLC grew 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 acquiring an additional 182 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of GeneDx in the fourth quarter worth approximately $28,000. Evolution Wealth Advisors LLC purchased a new position in GeneDx in the 4th quarter valued at $202,000. Victory Capital Management Inc. acquired a new position in shares of GeneDx during the 4th quarter worth approximately $209,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of GeneDx in the third quarter valued at approximately $220,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Trading Up 7.2 %

Shares of GeneDx stock traded up $6.57 on Wednesday, reaching $97.36. The company had a trading volume of 543,522 shares, compared to its average volume of 615,343. GeneDx Holdings Corp. has a 52-week low of $7.72 and a 52-week high of $115.60. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The firm's 50 day moving average price is $84.57 and its two-hundred day moving average price is $70.78. The firm has a market cap of $2.73 billion, a PE ratio of -49.67 and a beta of 1.91.

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GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $95.64 million for the quarter, compared to analysts' expectations of $82.24 million. Sell-side analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insider Activity at GeneDx

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

Wall Street Analyst Weigh In

Several research firms have recently commented on WGS. The Goldman Sachs Group lifted their price target on GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. TD Cowen lifted their target price on shares of GeneDx from $75.00 to $118.00 and gave the stock a "buy" rating in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, GeneDx presently has an average rating of "Moderate Buy" and an average target price of $72.33.

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.