Jacobs Levy Equity Management Inc. Has $2.88 Million Stock Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Jacobs Levy Equity Management Inc. decreased its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 66.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,776 shares of the company's stock after selling 134,287 shares during the period. Jacobs Levy Equity Management Inc. owned 0.25% of GeneDx worth $2,876,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new position in GeneDx in the second quarter valued at about $34,000. nVerses Capital LLC acquired a new stake in shares of GeneDx during the 2nd quarter worth approximately $50,000. CWM LLC bought a new stake in shares of GeneDx during the third quarter worth approximately $89,000. SG Americas Securities LLC acquired a new position in GeneDx in the third quarter valued at approximately $198,000. Finally, Palumbo Wealth Management LLC bought a new position in GeneDx in the third quarter valued at approximately $287,000. Institutional investors and hedge funds own 61.72% of the company's stock.

GeneDx Trading Down 2.1 %

GeneDx stock traded down $1.65 during mid-day trading on Friday, hitting $77.20. 785,309 shares of the company's stock were exchanged, compared to its average volume of 548,068. GeneDx Holdings Corp. has a fifty-two week low of $1.45 and a fifty-two week high of $89.11. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $2.12 billion, a P/E ratio of -24.82 and a beta of 2.03. The company's 50 day simple moving average is $67.45 and its 200-day simple moving average is $43.85.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on WGS shares. The Goldman Sachs Group increased their price target on 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 upped their price objective on GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Finally, Craig Hallum raised their target price on GeneDx from $70.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, GeneDx presently has an average rating of "Moderate Buy" and an average price target of $59.33.

Insider Activity

In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the business's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total value of $143,456.40. Following the sale, the chief executive officer now owns 105,426 shares in the company, valued at approximately $7,021,371.60. The trade was a 2.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Feeley sold 12,019 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $73.76, for a total value of $886,521.44. Following the transaction, the chief financial officer now directly owns 32,932 shares of the company's stock, valued at approximately $2,429,064.32. This trade represents a 26.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,109,110 shares of company stock worth $81,993,001 over the last quarter. 27.30% of the stock is currently owned by company insiders.

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.