Barclays PLC Raises Stock Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Barclays PLC grew its holdings in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 346.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,921 shares of the company's stock after purchasing an additional 14,681 shares during the quarter. Barclays PLC owned approximately 0.07% of GeneDx worth $803,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of GeneDx in the 2nd quarter valued at $34,000. CWM LLC purchased a new stake in shares of GeneDx in the 3rd quarter valued at $89,000. SG Americas Securities LLC purchased a new stake in shares of GeneDx in the 3rd quarter valued at $198,000. Point72 DIFC Ltd purchased a new stake in shares of GeneDx in the 3rd quarter valued at $220,000. Finally, Palumbo Wealth Management LLC purchased a new stake in shares of GeneDx in the 3rd quarter valued at $287,000. Institutional investors own 61.72% of the company's stock.

Insiders Place Their Bets

In related news, Director Jason Ryan sold 31,510 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $71.28, for a total value of $2,246,032.80. Following the completion of the sale, the director now owns 15,490 shares of the company's stock, valued at approximately $1,104,127.20. This trade represents a 67.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $75.00, for a total value of $64,935,000.00. Following the transaction, the insider now owns 2,866,833 shares in the company, valued at approximately $215,012,475. The trade was a 23.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,229,965 shares of company stock worth $93,006,163. Company insiders own 27.30% of the company's stock.

GeneDx Stock Performance

NASDAQ:WGS opened at $72.41 on Thursday. 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 company has a fifty day moving average of $78.15 and a two-hundred day moving average of $54.30. The stock has a market capitalization of $1.99 billion, a PE ratio of -23.28 and a beta of 2.02. GeneDx Holdings Corp. has a fifty-two week low of $2.85 and a fifty-two week high of $98.87.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.21) by $0.25. The company had revenue of $76.90 million during 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 firm's revenue for the quarter was up 44.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.82) earnings per share. As a group, research analysts forecast that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Craig Hallum boosted their target price on shares of GeneDx from $70.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. TD Cowen boosted their target price on shares of GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group boosted their target price on shares of GeneDx from $54.00 to $70.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $70.67.

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.