Algert Global LLC Acquires 52,526 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Algert Global LLC grew its position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 386.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,128 shares of the company's stock after purchasing an additional 52,526 shares during the period. Algert Global LLC owned approximately 0.24% of GeneDx worth $2,806,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of WGS. Vanguard Group Inc. raised its position in GeneDx by 4.2% in the first quarter. Vanguard Group Inc. now owns 707,612 shares of the company's stock valued at $6,460,000 after purchasing an additional 28,678 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of GeneDx during the 2nd quarter valued at about $11,335,000. Assenagon Asset Management S.A. acquired a new position in GeneDx during the 2nd quarter worth approximately $9,575,000. Millennium Management LLC boosted its holdings in GeneDx by 193.5% in the 2nd quarter. Millennium Management LLC now owns 311,401 shares of the company's stock worth $8,140,000 after acquiring an additional 205,318 shares during the period. Finally, Divisadero Street Capital Management LP acquired a new stake in GeneDx in the second quarter valued at approximately $5,886,000. Hedge funds and other institutional investors own 61.72% of the company's stock.

Insiders Place Their Bets

In other news, Director Jason Ryan sold 31,510 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $71.28, for a total transaction of $2,246,032.80. Following the sale, the director now owns 15,490 shares in the company, valued at $1,104,127.20. The trade was a 67.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Katherine Stueland sold 3,639 shares of GeneDx stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $121,287.87. Following the transaction, the chief executive officer now owns 95,457 shares in the company, valued at approximately $3,181,581.81. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,109,109 shares of company stock worth $81,980,692. 27.30% of the stock is owned by corporate insiders.

GeneDx Stock Performance

Shares of WGS traded down $1.09 during mid-day trading on Wednesday, reaching $79.43. 397,639 shares of the company's stock traded hands, compared to its average volume of 453,013. 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 business's 50-day moving average price is $61.33 and its 200-day moving average price is $40.68. The stock has a market capitalization of $2.18 billion, a P/E ratio of -25.58 and a beta of 2.11. GeneDx Holdings Corp. has a 12 month low of $1.45 and a 12 month high of $89.11.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $76.90 million for the quarter, compared to analysts' expectations of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The company's revenue was up 44.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.82) earnings per share. Equities analysts predict that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

Analyst Ratings Changes

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

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.