Alliancebernstein L.P. Increases Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Alliancebernstein L.P. grew its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 74.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,850 shares of the company's stock after acquiring an additional 5,900 shares during the period. Alliancebernstein L.P. owned about 0.05% of GeneDx worth $1,065,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of WGS. Wellington Management Group LLP bought a new position in GeneDx in the 4th quarter worth about $10,821,000. Pictet Asset Management Holding SA purchased a new stake in GeneDx in the 4th quarter worth approximately $222,000. Norges Bank purchased a new position in shares of GeneDx during the 4th quarter valued at $5,226,000. JPMorgan Chase & Co. increased its holdings in shares of GeneDx by 106.8% in the fourth quarter. JPMorgan Chase & Co. now owns 107,891 shares of the company's stock worth $8,293,000 after purchasing an additional 55,730 shares during the period. Finally, EntryPoint Capital LLC boosted its stake in GeneDx by 32.1% during the fourth quarter. EntryPoint Capital LLC now owns 12,141 shares of the company's stock valued at $933,000 after buying an additional 2,953 shares during the period. Hedge funds and other institutional investors own 61.72% of the company's stock.

Insider Activity

In other news, CFO Kevin Feeley sold 402 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $90.05, for a total value of $36,200.10. Following the completion of the sale, the chief financial officer now owns 5,044 shares of the company's stock, valued at approximately $454,212.20. The trade was a 7.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Katherine Stueland sold 2,731 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $94.73, for a total value of $258,707.63. Following the transaction, the chief executive officer now owns 7,752 shares in the company, valued at approximately $734,346.96. The trade was a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,780 shares of company stock valued at $12,907,437. Corporate insiders own 27.30% of the company's stock.

GeneDx Price Performance

Shares of WGS traded up $7.77 during midday trading on Wednesday, reaching $104.66. The stock had a trading volume of 845,987 shares, compared to its average volume of 689,404. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of -53.40 and a beta of 1.93. The company's 50-day moving average is $94.57 and its 200 day moving average is $80.67. GeneDx Holdings Corp. has a 12-month low of $10.18 and a 12-month high of $115.60.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its 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. The business had revenue of $95.64 million during the quarter, compared to analyst estimates of $82.24 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. On average, equities analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Analyst Ratings Changes

WGS has been the topic of several recent analyst reports. TD Cowen raised their price target on GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a report on Tuesday, January 7th. The Goldman Sachs Group raised 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.