Mission Wealth Management LP Buys New Stake in GeneDx Holdings Corp. (NASDAQ:WGS)

Mission Wealth Management LP bought a new position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,000 shares of the company's stock, valued at approximately $384,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WGS. Fred Alger Management LLC purchased a new stake in GeneDx during the 3rd quarter valued at about $16,731,000. Zweig DiMenna Associates LLC purchased a new stake in GeneDx during the 4th quarter valued at about $23,788,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in GeneDx during the 3rd quarter valued at about $7,533,000. Summit Partners Public Asset Management LLC purchased a new stake in GeneDx during the 3rd quarter valued at about $7,340,000. Finally, Point72 Asset Management L.P. grew its position in GeneDx by 87.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 293,671 shares of the company's stock valued at $12,463,000 after purchasing an additional 136,926 shares during the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 1,137 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $76.37, for a total transaction of $86,832.69. Following the sale, the chief financial officer now owns 24,731 shares in the company, valued at approximately $1,888,706.47. This trade represents a 4.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 3,661 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $76.37, for a total transaction of $279,590.57. Following the sale, the chief executive officer now owns 62,897 shares in the company, valued at approximately $4,803,443.89. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,321 shares of company stock worth $11,315,903 in the last quarter. Company insiders own 27.30% of the company's stock.

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Analysts Set New Price Targets

Several analysts recently commented on WGS shares. TD Cowen increased their price objective on shares of GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. 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 research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $72.33.

GeneDx Stock Performance

WGS traded up $0.74 during midday trading on Friday, hitting $98.01. 709,150 shares of the company traded hands, compared to its average volume of 604,032. 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 firm has a market capitalization of $2.75 billion, a PE ratio of -50.00 and a beta of 1.91. The company's 50-day moving average is $83.24 and its 200 day moving average is $67.70. GeneDx Holdings Corp. has a 52 week low of $7.72 and a 52 week high of $115.60.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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. On average, research analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

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.