7,297 Shares in GeneDx Holdings Corp. (NASDAQ:WGS) Purchased by MetLife Investment Management LLC

MetLife Investment Management LLC acquired a new stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,297 shares of the company's stock, valued at approximately $310,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of GeneDx by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company's stock worth $6,460,000 after purchasing an additional 28,678 shares during the period. Driehaus Capital Management LLC acquired a new position in GeneDx in the second quarter valued at $11,335,000. Assenagon Asset Management S.A. purchased a new position in GeneDx during the second quarter worth about $9,575,000. Millennium Management LLC boosted its stake in GeneDx by 193.5% in the 2nd quarter. Millennium Management LLC now owns 311,401 shares of the company's stock worth $8,140,000 after buying an additional 205,318 shares during the last quarter. Finally, Divisadero Street Capital Management LP purchased a new stake in GeneDx in the 2nd quarter valued at about $5,886,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. 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 note on Wednesday, October 30th. Craig Hallum increased their target price on shares of 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 lifted their price target on shares of GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a research 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. Based on data from MarketBeat, GeneDx has an average rating of "Moderate Buy" and an average price target of $59.33.

GeneDx Stock Performance

Shares of WGS traded down $4.34 during mid-day trading on Monday, reaching $72.86. 645,501 shares of the stock traded hands, compared to its average volume of 456,262. The stock has a fifty day simple moving average of $67.45 and a 200 day simple moving average of $43.85. GeneDx Holdings Corp. has a 12-month low of $1.55 and a 12-month high of $89.11. 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 released its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.25. The firm had revenue of $76.90 million for the quarter, compared to the consensus estimate of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The firm's quarterly revenue was up 44.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.82) EPS. On average, equities research analysts predict that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the firm's stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $66.60, for a total transaction of $143,456.40. Following the completion of the transaction, the chief executive officer now directly owns 105,426 shares of the company's stock, valued at $7,021,371.60. This trade represents a 2.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $69.78, for a total transaction of $1,420,651.02. Following the completion of the sale, the insider now directly owns 2,846,474 shares of the company's stock, valued at $198,626,955.72. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,104,576 shares of company stock worth $81,841,883 in the last 90 days. 27.30% of the stock is 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.