Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 60,005 GeneDx Holdings Corp. (NASDAQ:WGS)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 60,005 shares of the company's stock, valued at approximately $2,547,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.22% of GeneDx at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Acadian Asset Management LLC bought a new stake in GeneDx during the second quarter worth approximately $34,000. nVerses Capital LLC bought a new stake in shares of GeneDx during the 2nd quarter worth $50,000. CWM LLC bought a new stake in shares of GeneDx during the 3rd quarter worth $89,000. SG Americas Securities LLC acquired a new position in GeneDx in the 3rd quarter valued at $198,000. Finally, Palumbo Wealth Management LLC bought a new position in GeneDx in the 3rd quarter worth $287,000. 61.72% of the stock is currently owned by institutional investors.

GeneDx Price Performance

Shares of GeneDx stock traded up $1.75 during midday trading on Monday, reaching $80.46. The company had a trading volume of 687,362 shares, compared to its average volume of 453,458. The stock has a fifty day simple moving average of $60.46 and a 200 day simple moving average of $40.26. GeneDx Holdings Corp. has a 1-year low of $1.41 and a 1-year high of $89.11. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -25.87 and a beta of 2.11.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. 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 business earned ($0.82) earnings per share. The firm's quarterly revenue was up 44.3% compared to the same quarter last year. As a group, equities research analysts forecast that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

Insider Transactions at GeneDx

In other news, Director Jason Ryan sold 31,510 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $71.28, for a total value of $2,246,032.80. Following the completion of the transaction, the director now owns 15,490 shares of the company's stock, valued at $1,104,127.20. The trade was a 67.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Feeley sold 12,019 shares of the firm's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $73.76, for a total value of $886,521.44. Following the sale, the chief financial officer now directly owns 32,932 shares in the company, valued at $2,429,064.32. The trade was a 26.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,109,109 shares of company stock worth $81,980,692 in the last three months. Insiders own 27.30% of the company's stock.

Analysts Set New Price Targets

WGS has been the subject of several research reports. BTIG Research increased their price objective on GeneDx from $35.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Craig Hallum raised their price target on shares of GeneDx from $70.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their price objective on shares of GeneDx from $54.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. TD Cowen increased their target price on shares of GeneDx from $46.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their price target on GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $59.33.

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.