Chartwell Investment Partners LLC Purchases New Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Chartwell Investment Partners LLC bought a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 40,573 shares of the company's stock, valued at approximately $1,722,000. Chartwell Investment Partners LLC owned approximately 0.15% of GeneDx at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in WGS. Acadian Asset Management LLC acquired a new position in GeneDx in the second quarter worth approximately $34,000. nVerses Capital LLC bought a new position in shares of GeneDx in the 2nd quarter valued at approximately $50,000. CWM LLC bought a new stake in GeneDx during the third quarter worth approximately $89,000. SG Americas Securities LLC acquired a new position in GeneDx during the third quarter valued at approximately $198,000. Finally, Palumbo Wealth Management LLC bought a new position in shares of GeneDx in the third quarter valued at approximately $287,000. Institutional investors and hedge funds own 61.72% of the company's stock.

Insider Transactions at GeneDx

In other news, major shareholder Opko Health, Inc. sold 39,824 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $33.08, for a total transaction of $1,317,377.92. Following the sale, the insider now directly owns 2,746,972 shares of the company's stock, valued at $90,869,833.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other GeneDx news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the business's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the completion of the sale, the insider now directly owns 2,866,833 shares of the company's stock, valued at approximately $215,012,475. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Opko Health, Inc. sold 39,824 shares of the firm's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $33.08, for a total transaction of $1,317,377.92. Following the completion of the transaction, the insider now directly owns 2,746,972 shares in the company, valued at $90,869,833.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 962,848 shares of company stock worth $68,298,009. Corporate insiders own 27.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WGS shares. Wells Fargo & Company boosted their price target on shares of GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Craig Hallum lifted their price objective on GeneDx from $70.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. BTIG Research increased their target price on GeneDx from $35.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. The Goldman Sachs Group upped their price target on GeneDx from $54.00 to $70.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Finally, TD Cowen boosted their target price on shares of GeneDx from $46.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $59.33.

GeneDx Price Performance

WGS stock traded up $1.56 during midday trading on Wednesday, reaching $78.48. 661,101 shares of the company's stock traded hands, compared to its average volume of 447,728. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -25.23 and a beta of 2.11. The company has a 50-day simple moving average of $54.41 and a two-hundred day simple moving average of $37.05. GeneDx Holdings Corp. has a 1-year low of $1.16 and a 1-year high of $89.11.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The company had revenue of $76.90 million during the quarter, compared to analyst estimates of $64.98 million. During the same period last year, the company posted ($0.82) earnings per share. The firm's quarterly revenue was up 44.3% compared to the same quarter last year. On average, analysts anticipate that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

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.