Bailard Inc. acquired a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,600 shares of the company's stock, valued at approximately $277,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fred Alger Management LLC acquired a new stake in shares of GeneDx in the third quarter valued at $16,731,000. Zweig DiMenna Associates LLC acquired a new stake in shares of GeneDx in the fourth quarter valued at $23,788,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of GeneDx in the third quarter valued at $7,533,000. Summit Partners Public Asset Management LLC acquired a new stake in shares of GeneDx in the third quarter valued at $7,340,000. Finally, Point72 Asset Management L.P. increased its stake in shares of GeneDx by 87.4% in the third quarter. Point72 Asset Management L.P. now owns 293,671 shares of the company's stock valued at $12,463,000 after buying an additional 136,926 shares in the last quarter. 61.72% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, CEO Katherine Stueland sold 1,657 shares of GeneDx stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $78.48, for a total transaction of $130,041.36. Following the transaction, the chief executive officer now owns 3,937 shares in the company, valued at $308,975.76. The trade was a 29.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin Feeley sold 1,430 shares of GeneDx stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.04, for a total value of $108,737.20. Following the transaction, the chief financial officer now owns 26,770 shares in the company, valued at $2,035,590.80. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,321 shares of company stock worth $11,315,903. Insiders own 27.30% of the company's stock.
GeneDx Trading Up 0.8 %
WGS stock traded up $0.74 during midday trading on Friday, reaching $98.01. The stock had a trading volume of 709,150 shares, 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. GeneDx Holdings Corp. has a twelve month low of $7.72 and a twelve month high of $115.60. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -50.00 and a beta of 1.91. The business has a fifty day simple moving average of $83.24 and a two-hundred day simple moving average of $67.70.
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 analysts' consensus estimates of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The firm had revenue of $95.64 million for the quarter, compared to analysts' expectations of $82.24 million. As a group, research analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts recently commented on WGS shares. The Goldman Sachs Group lifted their price objective on GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. TD Cowen lifted their price objective on GeneDx from $75.00 to $118.00 and gave the stock a "buy" rating in a research report on Tuesday, January 7th. 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 MarketBeat, GeneDx has an average rating of "Moderate Buy" and an average target price of $72.33.
Read Our Latest Research Report on GeneDx
GeneDx Profile
(
Free Report)
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.
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