GeneDx Holdings Corp. (NASDAQ:WGS) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 304.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 147,034 shares of the company's stock after buying an additional 110,666 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.54% of GeneDx worth $6,240,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in shares of GeneDx during the 2nd quarter worth $34,000. nVerses Capital LLC acquired a new stake in GeneDx in the 2nd quarter valued at $50,000. CWM LLC acquired a new stake in GeneDx in the 3rd quarter valued at $89,000. SG Americas Securities LLC acquired a new stake in GeneDx in the 3rd quarter valued at $198,000. Finally, Palumbo Wealth Management LLC acquired a new stake in GeneDx in the 3rd quarter valued at $287,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at GeneDx

In other GeneDx news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the firm's stock in a transaction dated Thursday, October 31st. The shares were 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 of the company's stock, valued at $215,012,475. This trade represents a 23.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Katherine Stueland sold 2,154 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $66.60, for a total transaction of $143,456.40. Following the completion of the sale, the chief executive officer now owns 105,426 shares in the company, valued at $7,021,371.60. The trade was a 2.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,109,374 shares of company stock valued at $82,208,306. Insiders own 27.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WGS shares. Craig Hallum increased their price target on GeneDx from $70.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price target on GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their price objective on shares of GeneDx from $54.00 to $70.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, GeneDx presently has a consensus rating of "Moderate Buy" and an average price target of $59.33.

GeneDx Stock Down 2.3 %

Shares of WGS stock traded down $1.67 during trading hours on Thursday, hitting $72.16. 226,573 shares of the company were exchanged, compared to its average volume of 454,348. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. GeneDx Holdings Corp. has a one year low of $1.66 and a one year high of $89.11. The business's 50-day simple moving average is $69.20 and its two-hundred day simple moving average is $44.79. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -23.74 and a beta of 2.04.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.25. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The business had revenue of $76.90 million for the quarter, compared to analysts' expectations of $64.98 million. During the same quarter last year, the company posted ($0.82) earnings per share. The company's quarterly revenue was up 44.3% compared to the same quarter last year. Sell-side analysts predict that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

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.