GeneDx Holdings Corp. (NASDAQ:WGS) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 617.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,161 shares of the company's stock after purchasing an additional 44,889 shares during the period. JPMorgan Chase & Co. owned 0.19% of GeneDx worth $2,214,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Principal Financial Group Inc. purchased a new stake in GeneDx during the third quarter worth $604,000. Franklin Resources Inc. acquired a new position in shares of GeneDx during the third quarter worth $301,000. Tidal Investments LLC acquired a new position in shares of GeneDx during the third quarter worth $514,000. Barclays PLC increased its position in shares of GeneDx by 346.3% during the third quarter. Barclays PLC now owns 18,921 shares of the company's stock worth $803,000 after purchasing an additional 14,681 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of GeneDx by 8.7% during the third quarter. Geode Capital Management LLC now owns 377,631 shares of the company's stock worth $16,030,000 after purchasing an additional 30,379 shares in the last quarter. Hedge funds and other institutional investors own 61.72% of the company's stock.

Insider Buying and Selling at GeneDx

In other news, CEO Katherine Stueland sold 51,420 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 1,720 shares in the company, valued at $162,505.60. This trade represents a 96.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of GeneDx stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the completion of the sale, the insider now owns 2,866,833 shares of the company's stock, valued at $215,012,475. This trade represents a 23.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,229,965 shares of company stock worth $93,006,163. Insiders own 27.30% of the company's stock.

GeneDx Price Performance

GeneDx stock traded up $1.41 during midday trading on Wednesday, reaching $75.77. The company had a trading volume of 754,638 shares, compared to its average volume of 995,502. The company has a market capitalization of $2.08 billion, a P/E ratio of -24.36 and a beta of 2.02. GeneDx Holdings Corp. has a 12-month low of $2.85 and a 12-month high of $98.87. The firm's fifty day simple moving average is $77.64 and its 200-day simple moving average is $55.80. 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 (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.21) by $0.25. The firm had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. GeneDx's quarterly revenue was up 44.3% compared to the same quarter last year. During the same period last year, the company posted ($0.82) EPS. As a group, equities analysts anticipate that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WGS shares. The Goldman Sachs Group upped their price target on GeneDx from $54.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. TD Cowen upped their price target on GeneDx from $75.00 to $118.00 and gave the stock a "buy" rating in a research report on Tuesday, January 7th. Craig Hallum upped their price target on GeneDx from $70.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their target price on GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $70.67.

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.