Franklin Resources Inc. Buys New Stake in GeneDx Holdings Corp. (NASDAQ:WGS)

Franklin Resources Inc. acquired a new stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,092 shares of the company's stock, valued at approximately $301,000.

A number of other hedge funds have also recently modified their holdings of the stock. Acadian Asset Management LLC purchased a new stake in shares of GeneDx during the 2nd quarter worth about $34,000. nVerses Capital LLC purchased a new position in GeneDx during the second quarter worth approximately $50,000. CWM LLC acquired a new stake in GeneDx in the third quarter valued at approximately $89,000. SG Americas Securities LLC purchased a new stake in shares of GeneDx in the third quarter valued at approximately $198,000. Finally, Point72 DIFC Ltd acquired a new position in shares of GeneDx during the 3rd quarter worth approximately $220,000. Hedge funds and other institutional investors own 61.72% of the company's stock.

Analysts Set New Price Targets

WGS has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their price target on shares of GeneDx from $54.00 to $70.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Finally, Craig Hallum upped 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. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, GeneDx has an average rating of "Moderate Buy" and a consensus target price of $59.33.

Insiders Place Their Bets

In other news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the sale, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jason Ryan sold 31,510 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,123,603 shares of company stock valued at $83,300,382. Insiders own 27.30% of the company's stock.

GeneDx Price Performance

Shares of NASDAQ WGS traded up $2.77 during mid-day trading on Thursday, reaching $79.63. The company's stock had a trading volume of 733,786 shares, compared to its average volume of 456,607. The stock has a 50-day moving average of $75.46 and a two-hundred day moving average of $50.33. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The stock has a market capitalization of $2.19 billion, a P/E ratio of -25.60 and a beta of 2.03. GeneDx Holdings Corp. has a 1-year low of $2.53 and a 1-year high of $89.11.

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

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.