Allspring Global Investments Holdings LLC Acquires 89,974 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Allspring Global Investments Holdings LLC lifted its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 50,832.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,151 shares of the company's stock after purchasing an additional 89,974 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.33% of GeneDx worth $7,179,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. PFG Investments LLC acquired a new stake in shares of GeneDx during the fourth quarter worth $252,000. Zweig DiMenna Associates LLC acquired a new position in GeneDx during the fourth quarter valued at $23,788,000. SG Americas Securities LLC raised its position in GeneDx by 87.2% during the fourth quarter. SG Americas Securities LLC now owns 8,735 shares of the company's stock valued at $671,000 after buying an additional 4,068 shares during the period. Evolution Wealth Advisors LLC acquired a new position in GeneDx during the fourth quarter valued at $202,000. Finally, Nisa Investment Advisors LLC raised its position in GeneDx by 147,085.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 50,043 shares of the company's stock valued at $3,846,000 after buying an additional 50,009 shares during the period. 61.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at GeneDx

In related news, CEO Katherine Stueland sold 10,501 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $76.75, for a total transaction of $805,951.75. Following the completion of the sale, the chief executive officer now owns 71,146 shares in the company, valued at $5,460,455.50. This represents a 12.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Feeley sold 1,137 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $76.37, for a total value of $86,832.69. Following the sale, the chief financial officer now owns 24,731 shares of the company's stock, valued at approximately $1,888,706.47. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,584 shares of company stock worth $11,336,520. 27.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on WGS. Craig Hallum upped their price target on GeneDx from $70.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. TD Cowen upped their price target on 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 price target on GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Wells Fargo & Company upped their price target on GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $72.33.

GeneDx Stock Down 10.5 %

WGS stock traded down $10.70 during mid-day trading on Friday, hitting $90.88. The stock had a trading volume of 672,252 shares, compared to its average volume of 1,240,351. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. GeneDx Holdings Corp. has a 1-year low of $6.79 and a 1-year high of $115.60. The company has a fifty day moving average of $78.64 and a 200 day moving average of $62.41. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of -46.37 and a beta of 2.01.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.66. The company had revenue of $95.64 million for 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 expect that GeneDx Holdings Corp. will post 0.52 EPS for the current fiscal 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.