Geode Capital Management LLC Increases Stake in GeneDx Holdings Corp. (NASDAQ:WGS)

Geode Capital Management LLC boosted its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 382,350 shares of the company's stock after acquiring an additional 4,719 shares during the period. Geode Capital Management LLC owned 1.39% of GeneDx worth $29,396,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. National Bank of Canada FI purchased a new stake in GeneDx during the 4th quarter valued at about $3,459,000. Alliancebernstein L.P. increased its position in shares of GeneDx by 74.2% during the fourth quarter. Alliancebernstein L.P. now owns 13,850 shares of the company's stock valued at $1,065,000 after acquiring an additional 5,900 shares in the last quarter. Wellington Management Group LLP bought a new position in GeneDx in the 4th quarter valued at approximately $10,821,000. Pictet Asset Management Holding SA bought a new stake in shares of GeneDx in the 4th quarter worth $222,000. Finally, Norges Bank purchased a new position in shares of GeneDx in the fourth quarter worth $5,226,000. 61.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WGS. The Goldman Sachs Group lifted 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. TD Cowen lifted their price target on shares of GeneDx from $75.00 to $118.00 and gave the stock a "buy" rating in a research note on Tuesday, January 7th. 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, GeneDx has an average rating of "Moderate Buy" and an average target price of $72.33.

GeneDx Stock Performance

WGS stock traded up $9.82 during trading on Wednesday, reaching $106.71. The stock had a trading volume of 314,024 shares, compared to its average volume of 687,572. The stock's 50 day moving average is $94.57 and its two-hundred day moving average is $80.67. The firm has a market cap of $3.00 billion, a PE ratio of -54.44 and a beta of 1.93. GeneDx Holdings Corp. has a 52 week low of $10.18 and a 52 week high of $115.60. 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 posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.66. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The company had revenue of $95.64 million for the quarter, compared to the consensus estimate of $82.24 million. As a group, equities analysts anticipate 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 1,657 shares of GeneDx stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $78.48, for a total transaction of $130,041.36. Following the transaction, the chief executive officer now owns 3,937 shares of the company's stock, valued at $308,975.76. The trade was a 29.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Feeley sold 3,749 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $96.71, for a total transaction of $362,565.79. Following the completion of the sale, the chief financial officer now directly owns 8,492 shares of the company's stock, valued at approximately $821,261.32. This trade represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 138,780 shares of company stock valued at $12,907,437. 27.30% of the stock is owned by company insiders.

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.