Charles Schwab Investment Management Inc. Acquires 4,369 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Charles Schwab Investment Management Inc. raised its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 151,403 shares of the company's stock after buying an additional 4,369 shares during the period. Charles Schwab Investment Management Inc. owned about 0.55% of GeneDx worth $11,637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WGS. Fred Alger Management LLC purchased a new position in GeneDx in the third quarter valued at about $16,731,000. Geode Capital Management LLC raised its stake in shares of GeneDx by 8.7% during the 3rd quarter. Geode Capital Management LLC now owns 377,631 shares of the company's stock worth $16,030,000 after purchasing an additional 30,379 shares in the last quarter. State Street Corp lifted its holdings in shares of GeneDx by 18.3% during the 3rd quarter. State Street Corp now owns 314,914 shares of the company's stock valued at $13,365,000 after buying an additional 48,735 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new position in GeneDx in the fourth quarter worth approximately $23,788,000. Finally, Point72 Asset Management L.P. raised its position in GeneDx by 87.4% during the third quarter. Point72 Asset Management L.P. now owns 293,671 shares of the company's stock valued at $12,463,000 after acquiring an additional 136,926 shares in the last quarter. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 18,006 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $78.18, for a total value of $1,407,709.08. Following the transaction, the chief executive officer now owns 53,140 shares of the company's stock, valued at approximately $4,154,485.20. This represents a 25.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Feeley sold 1,430 shares of the company's 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 completion of the sale, the chief financial officer now directly owns 26,770 shares of the company's stock, valued at approximately $2,035,590.80. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,735 shares of company stock worth $11,719,787 in the last quarter. 27.30% of the stock is owned by company insiders.

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Wall Street Analysts Forecast Growth

WGS has been the topic of several analyst reports. TD Cowen increased their price target on GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a report 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 report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $72.33.

GeneDx Price Performance

Shares of NASDAQ WGS traded down $2.60 during trading on Tuesday, reaching $100.59. The company had a trading volume of 505,556 shares, compared to its average volume of 1,074,347. GeneDx Holdings Corp. has a 52 week low of $8.30 and a 52 week high of $115.60. The business's 50 day moving average price is $85.25 and its 200-day moving average price is $72.73. The stock has a market cap of $2.82 billion, a PE ratio of -51.32 and a beta of 1.91. 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 (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $95.64 million during the quarter, compared to analysts' expectations of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. Analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current 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.