Connor Clark & Lunn Investment Management Ltd. Grows Stake in GeneDx Holdings Corp. (NASDAQ:WGS)

Connor Clark & Lunn Investment Management Ltd. raised its stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 176.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 166,094 shares of the company's stock after acquiring an additional 106,089 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.60% of GeneDx worth $12,766,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. MCF Advisors LLC raised its holdings in GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company's stock valued at $27,000 after acquiring an additional 182 shares in the last quarter. Global Retirement Partners LLC acquired a new position in GeneDx in the fourth quarter valued at about $28,000. Evolution Wealth Advisors LLC bought a new stake in GeneDx during the fourth quarter worth about $202,000. Victory Capital Management Inc. acquired a new stake in GeneDx during the fourth quarter worth about $209,000. Finally, Point72 DIFC Ltd acquired a new stake in GeneDx during the third quarter worth about $220,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. TD Cowen raised their target price on GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a 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. According to MarketBeat.com, GeneDx has an average rating of "Moderate Buy" and a consensus price target of $72.33.

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GeneDx Price Performance

Shares of NASDAQ WGS traded up $6.65 during midday trading on Wednesday, reaching $97.44. 597,215 shares of the company were exchanged, compared to its average volume of 615,343. GeneDx Holdings Corp. has a one year low of $7.72 and a one year high of $115.60. The stock has a market cap of $2.73 billion, a P/E ratio of -49.71 and a beta of 1.91. 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's 50-day moving average price is $84.57 and its 200-day moving average price is $70.78.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.04 by $0.66. The business had revenue of $95.64 million for the quarter, compared to the consensus estimate of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. On average, sell-side analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GeneDx news, CFO Kevin Feeley sold 3,749 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $96.71, for a total transaction of $362,565.79. Following the completion of the sale, the chief financial officer now owns 8,492 shares in the company, valued at approximately $821,261.32. The trade was a 30.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Katherine Stueland sold 18,006 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $78.18, for a total transaction of $1,407,709.08. Following the completion of the transaction, the chief executive officer now directly owns 53,140 shares in the company, valued at approximately $4,154,485.20. The trade was a 25.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,735 shares of company stock worth $11,719,787. 27.30% of the stock is currently owned by insiders.

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.