Fmr LLC Increases Position in GeneDx Holdings Corp. (NASDAQ:WGS)

FMR LLC raised its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 295.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,825 shares of the company's stock after acquiring an additional 40,219 shares during the period. FMR LLC owned approximately 0.20% of GeneDx worth $2,284,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WGS. Renaissance Technologies LLC acquired a new stake in GeneDx during the second quarter worth about $2,362,000. Chartwell Investment Partners LLC acquired a new position in shares of GeneDx during the third quarter worth $1,722,000. Lisanti Capital Growth LLC bought a new position in shares of GeneDx in the 3rd quarter valued at $1,554,000. Millennium Management LLC boosted its holdings in shares of GeneDx by 193.5% during the 2nd quarter. Millennium Management LLC now owns 311,401 shares of the company's stock valued at $8,140,000 after acquiring an additional 205,318 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in shares of GeneDx during the 2nd quarter valued at $356,000. Institutional investors and hedge funds own 61.72% of the company's stock.

Insider Activity

In other GeneDx news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the business's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the completion of the sale, the insider now directly owns 2,866,833 shares of the company's stock, valued at approximately $215,012,475. The trade was a 23.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $143,456.40. Following the completion of the transaction, the chief executive officer now owns 105,426 shares in the company, valued at $7,021,371.60. This represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,109,374 shares of company stock worth $82,208,306 in the last three months. Company insiders own 27.30% of the company's stock.

GeneDx Trading Up 5.1 %

WGS stock traded up $3.66 during midday trading on Friday, hitting $75.43. The stock had a trading volume of 268,358 shares, compared to its average volume of 453,952. The business has a fifty day moving average price of $70.21 and a two-hundred day moving average price of $45.70. GeneDx Holdings Corp. has a 1-year low of $1.76 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 firm has a market cap of $2.07 billion, a P/E ratio of -24.25 and a beta of 2.03.

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

Analyst Upgrades and Downgrades

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

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.