Invesco Ltd. Raises Stake in GeneDx Holdings Corp. (NASDAQ:WGS)

Invesco Ltd. raised its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 4,382.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 255,351 shares of the company's stock after buying an additional 249,654 shares during the quarter. Invesco Ltd. owned about 0.93% of GeneDx worth $19,626,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of WGS. Envestnet Asset Management Inc. acquired a new position in GeneDx during the 4th quarter worth about $380,000. Wells Fargo & Company MN increased its holdings in shares of GeneDx by 42.0% in the fourth quarter. Wells Fargo & Company MN now owns 8,382 shares of the company's stock worth $644,000 after acquiring an additional 2,480 shares in the last quarter. Integrated Quantitative Investments LLC acquired a new position in GeneDx in the 4th quarter worth $361,000. Thoroughbred Financial Services LLC bought a new stake in GeneDx in the 4th quarter valued at approximately $403,000. Finally, Geode Capital Management LLC grew its position in GeneDx by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 382,350 shares of the company's stock valued at $29,396,000 after purchasing an additional 4,719 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Stock Performance

Shares of NASDAQ:WGS traded up $7.77 during trading on Wednesday, hitting $104.66. 845,987 shares of the company were exchanged, compared to its average volume of 689,404. The stock has a 50 day moving average of $94.57 and a 200 day moving average of $80.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. GeneDx Holdings Corp. has a 52-week low of $10.18 and a 52-week high of $115.60. The company has a market cap of $2.94 billion, a PE ratio of -53.40 and a beta of 1.93.

GeneDx (NASDAQ:WGS - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.66. The company had revenue of $95.64 million during the quarter, compared to analyst estimates of $82.24 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. As a group, equities research analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WGS shares. TD Cowen boosted their price objective on GeneDx from $75.00 to $118.00 and gave the stock a "buy" rating in a report on Tuesday, January 7th. The Goldman Sachs Group lifted their price target on shares of GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $72.33.

Insider Activity at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 46,594 shares of the stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $89.62, for a total value of $4,175,754.28. Following the sale, the chief executive officer now owns 1,720 shares in the company, valued at $154,146.40. This trade represents a 96.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin Feeley sold 922 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $94.72, for a total value of $87,331.84. Following the transaction, the chief financial officer now owns 5,446 shares in the company, valued at approximately $515,845.12. This represents a 14.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 138,780 shares of company stock valued at $12,907,437 over the last ninety days. Insiders own 27.30% of the company's stock.

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.