Emerald Advisers LLC Takes Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Emerald Advisers LLC purchased a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 91,818 shares of the company's stock, valued at approximately $7,057,000. Emerald Advisers LLC owned about 0.33% of GeneDx at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of GeneDx by 18.5% in the fourth quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company's stock worth $77,337,000 after purchasing an additional 156,768 shares during the last quarter. William Blair Investment Management LLC purchased a new position in GeneDx in the 4th quarter worth approximately $51,496,000. Fred Alger Management LLC purchased a new position in shares of GeneDx in the third quarter worth $16,731,000. Geode Capital Management LLC raised its stake in shares of GeneDx by 8.7% during the third quarter. Geode Capital Management LLC now owns 377,631 shares of the company's stock valued at $16,030,000 after acquiring an additional 30,379 shares during the last quarter. Finally, State Street Corp lifted its holdings in GeneDx by 18.3% in the 3rd quarter. State Street Corp now owns 314,914 shares of the company's stock worth $13,365,000 after buying an additional 48,735 shares during the period. Institutional investors own 61.72% of the company's stock.

GeneDx Price Performance

NASDAQ:WGS traded down $2.10 on Thursday, reaching $94.34. 567,414 shares of the company's stock traded hands, compared to its average volume of 626,571. GeneDx Holdings Corp. has a 12 month low of $8.53 and a 12 month high of $115.60. 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 firm has a market cap of $2.65 billion, a PE ratio of -48.13 and a beta of 1.91. The stock has a 50-day simple moving average of $86.83 and a 200-day simple moving average of $73.52.

Remove Ads

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

Insider Buying and Selling

In other GeneDx news, CEO Katherine Stueland sold 18,006 shares of GeneDx 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 in the company, valued at $4,154,485.20. The trade was a 25.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Feeley sold 35,506 shares of the company's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $93.82, for a total value of $3,331,172.92. Following the transaction, the chief financial officer now directly owns 2,472 shares in the company, valued at approximately $231,923.04. The trade was a 93.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 127,735 shares of company stock valued at $11,719,787. Insiders own 27.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. TD Cowen lifted their price objective on GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. The Goldman Sachs Group increased their price objective on GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $72.33.

About GeneDx

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.