The Manufacturers Life Insurance Company Makes New Investment in GeneDx Holdings Corp. (NASDAQ:WGS)

The Manufacturers Life Insurance Company bought a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 11,102 shares of the company's stock, valued at approximately $290,000.

Other large investors have also recently bought and sold shares of the company. Acadian Asset Management LLC bought a new position in shares of GeneDx during the 2nd quarter valued at about $34,000. nVerses Capital LLC bought a new position in shares of GeneDx during the 2nd quarter valued at about $50,000. Thompson Davis & CO. Inc. boosted its position in shares of GeneDx by 20.8% during the 1st quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company's stock valued at $220,000 after purchasing an additional 4,150 shares in the last quarter. American Century Companies Inc. boosted its position in shares of GeneDx by 36.1% during the 2nd quarter. American Century Companies Inc. now owns 17,258 shares of the company's stock valued at $451,000 after purchasing an additional 4,573 shares in the last quarter. Finally, Alpha DNA Investment Management LLC acquired a new position in shares of GeneDx in the second quarter worth about $363,000. Institutional investors and hedge funds own 61.72% of the company's stock.

Insider Transactions at GeneDx

In other news, CFO Kevin Feeley sold 895 shares of the firm's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $29,830.35. Following the sale, the chief financial officer now owns 39,910 shares in the company, valued at approximately $1,330,200.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Kevin Feeley sold 895 shares of the firm's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $29,830.35. Following the sale, the chief financial officer now owns 39,910 shares in the company, valued at approximately $1,330,200.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 2,154 shares of the firm's stock in a transaction on Monday, July 29th. The stock was sold at an average price of $33.54, for a total transaction of $72,245.16. Following the completion of the sale, the chief executive officer now owns 92,550 shares in the company, valued at approximately $3,104,127. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 593,668 shares of company stock worth $19,735,488. Insiders own 28.10% of the company's stock.

GeneDx Stock Up 7.2 %

WGS traded up $4.05 during midday trading on Friday, hitting $60.05. 464,775 shares of the company's stock traded hands, compared to its average volume of 419,465. The company has a market cap of $1.57 billion, a PE ratio of -11.59 and a beta of 2.32. The stock's fifty day simple moving average is $40.84 and its 200-day simple moving average is $29.26. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.38 and a quick ratio of 2.22. GeneDx Holdings Corp. has a one year low of $1.16 and a one year high of $61.96.

GeneDx (NASDAQ:WGS - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.15. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. The company had revenue of $70.51 million for the quarter, compared to analyst estimates of $58.90 million. As a group, equities analysts anticipate that GeneDx Holdings Corp. will post -0.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WGS has been the subject of several recent analyst reports. Craig Hallum raised their target price on shares of GeneDx from $43.00 to $46.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Wells Fargo & Company began coverage on shares of GeneDx in a report on Tuesday, August 27th. They issued an "equal weight" rating and a $34.00 target price for the company. BTIG Research raised their price target on shares of GeneDx from $35.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. TD Cowen raised their price target on shares of GeneDx from $46.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group raised their price target on shares of GeneDx from $32.00 to $54.00 and gave the stock a "neutral" rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $41.67.

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.