GeneDx Holdings Corp. (NASDAQ:WGS) Holdings Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 26.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,914 shares of the company's stock after purchasing an additional 8,597 shares during the quarter. Bank of New York Mellon Corp owned about 0.15% of GeneDx worth $3,145,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. acquired a new stake in shares of GeneDx during the third quarter valued at about $604,000. GSA Capital Partners LLP acquired a new stake in shares of GeneDx during the third quarter valued at about $322,000. Royce & Associates LP acquired a new stake in shares of GeneDx during the third quarter valued at about $1,201,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of GeneDx during the third quarter valued at about $2,547,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of GeneDx by 304.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company's stock valued at $6,240,000 after acquiring an additional 110,666 shares in the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 1,430 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was 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 of the company's stock, valued at approximately $2,035,590.80. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 10,559 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $96.71, for a total value of $1,021,160.89. Following the completion of the transaction, the chief executive officer now directly owns 14,865 shares in the company, valued at $1,437,594.15. This represents a 41.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,735 shares of company stock worth $11,719,787 over the last ninety days. Company insiders own 27.30% of the company's stock.

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GeneDx Stock Performance

WGS stock traded up $7.68 during midday trading on Friday, reaching $104.39. The company had a trading volume of 704,762 shares, compared to its average volume of 620,388. 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 stock has a 50 day moving average price of $84.89 and a 200 day moving average price of $71.94. GeneDx Holdings Corp. has a fifty-two week low of $8.10 and a fifty-two week high of $115.60. The firm has a market capitalization of $2.93 billion, a PE ratio of -53.26 and a beta of 1.91.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, beating 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 company had revenue of $95.64 million during the quarter, compared to the consensus estimate of $82.24 million. Analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WGS. TD Cowen raised their target price on GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a research note on Tuesday, January 7th. The Goldman Sachs Group lifted their price target on GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $72.33.

GeneDx Company 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.