Geode Capital Management LLC Purchases 30,379 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Geode Capital Management LLC increased its position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 377,631 shares of the company's stock after purchasing an additional 30,379 shares during the period. Geode Capital Management LLC owned approximately 1.37% of GeneDx worth $16,030,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of WGS. Driehaus Capital Management LLC bought a new stake in GeneDx during the second quarter worth $11,335,000. Fred Alger Management LLC purchased a new position in GeneDx during the 3rd quarter worth $16,731,000. Divisadero Street Capital Management LP bought a new stake in shares of GeneDx in the 2nd quarter worth $5,886,000. Millennium Management LLC lifted its position in shares of GeneDx by 193.5% during the second quarter. Millennium Management LLC now owns 311,401 shares of the company's stock valued at $8,140,000 after purchasing an additional 205,318 shares in the last quarter. Finally, Raymond James & Associates purchased a new position in GeneDx during the third quarter worth about $8,090,000. Institutional investors and hedge funds own 61.72% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on WGS shares. Wells Fargo & Company lifted their target price on shares of GeneDx from $34.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Craig Hallum lifted their price target 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 boosted their target price 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $59.33.

Insider Activity at GeneDx

In other GeneDx news, major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $69.78, for a total transaction of $1,420,651.02. Following the completion of the sale, the insider now directly owns 2,846,474 shares in the company, valued at $198,626,955.72. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Katherine Stueland sold 2,154 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 105,426 shares of the company's stock, valued at approximately $7,021,371.60. This trade represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,123,603 shares of company stock valued at $83,300,382 over the last three months. 27.30% of the stock is owned by corporate insiders.

GeneDx Price Performance

Shares of WGS stock traded down $1.47 during trading hours on Monday, reaching $76.58. The stock had a trading volume of 370,286 shares, compared to its average volume of 456,870. The stock's fifty day simple moving average is $74.30 and its 200 day simple moving average is $49.46. The firm has a market capitalization of $2.10 billion, a PE ratio of -24.62 and a beta of 2.03. GeneDx Holdings Corp. has a 12 month low of $2.47 and a 12 month 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.

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

GeneDx Company 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.