Ieq Capital LLC Purchases New Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

Ieq Capital LLC bought a new stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,857 shares of the company's stock, valued at approximately $220,000.

Other large investors have also recently added to or reduced their stakes in the company. MCF Advisors LLC raised its stake in GeneDx by 107.7% during the fourth quarter. MCF Advisors LLC now owns 351 shares of the company's stock worth $27,000 after acquiring an additional 182 shares during the period. Global Retirement Partners LLC bought a new stake in GeneDx during the 4th quarter valued at $28,000. Evolution Wealth Advisors LLC acquired a new stake in GeneDx in the fourth quarter worth about $202,000. PFG Investments LLC bought a new position in shares of GeneDx in the fourth quarter valued at approximately $252,000. Finally, Point72 DIFC Ltd acquired a new position in shares of GeneDx during the 3rd quarter valued at $220,000. 61.72% of the stock is currently owned by institutional investors.

GeneDx Stock Performance

Shares of GeneDx stock traded up $6.31 during midday trading on Wednesday, hitting $105.31. The company had a trading volume of 541,858 shares, compared to its average volume of 597,751. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The stock has a market cap of $2.96 billion, a PE ratio of -53.73 and a beta of 2.01. The business's 50 day simple moving average is $82.49 and its two-hundred day simple moving average is $66.82. GeneDx Holdings Corp. has a 1-year low of $7.72 and a 1-year high of $115.60.

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GeneDx (NASDAQ:WGS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. As a group, equities analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WGS has been the subject of several recent research reports. The Goldman Sachs Group increased their target price on shares of GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. TD Cowen boosted their price objective on shares of GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $72.33.

Insider Buying and Selling at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 51,420 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the sale, the chief executive officer now directly owns 1,720 shares of the company's stock, valued at approximately $162,505.60. This represents a 96.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Feeley sold 3,728 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $76.75, for a total transaction of $286,124.00. Following the sale, the chief financial officer now directly owns 28,200 shares of the company's stock, valued at approximately $2,164,350. The trade was a 11.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,321 shares of company stock valued at $11,315,903. 27.30% of the stock is currently owned by corporate 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.