GeneDx Holdings Corp. (NASDAQ:WGS) is Next Century Growth Investors LLC's 10th Largest Position

Next Century Growth Investors LLC increased its stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 121.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 312,014 shares of the company's stock after purchasing an additional 170,901 shares during the quarter. GeneDx makes up approximately 1.8% of Next Century Growth Investors LLC's investment portfolio, making the stock its 10th biggest position. Next Century Growth Investors LLC owned approximately 1.14% of GeneDx worth $23,981,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in GeneDx by 18.5% in the fourth quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company's stock worth $77,337,000 after buying an additional 156,768 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in GeneDx in the 4th quarter worth approximately $51,496,000. Geode Capital Management LLC increased its holdings in GeneDx by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 382,350 shares of the company's stock worth $29,396,000 after acquiring an additional 4,719 shares in the last quarter. State Street Corp raised its stake in GeneDx by 18.3% during the 3rd quarter. State Street Corp now owns 314,914 shares of the company's stock worth $13,365,000 after acquiring an additional 48,735 shares during the period. Finally, Zweig DiMenna Associates LLC purchased a new position in GeneDx during the fourth quarter valued at approximately $23,788,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

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GeneDx Price Performance

NASDAQ WGS traded down $3.94 on Wednesday, reaching $98.28. The company had a trading volume of 760,730 shares, compared to its average volume of 676,525. The firm's 50 day moving average price is $91.91 and its 200 day moving average price is $78.94. GeneDx Holdings Corp. has a 12 month low of $8.63 and a 12 month high of $115.60. The stock has a market capitalization of $2.76 billion, a PE ratio of -50.14 and a beta of 1.93. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

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

Insider Activity at GeneDx

In other news, CEO Katherine Stueland sold 46,594 shares of the stock in a transaction on Wednesday, April 9th. The shares were 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 of the company's stock, valued at approximately $154,146.40. This represents a 96.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin Feeley sold 922 shares of GeneDx stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $94.72, for a total transaction of $87,331.84. Following the transaction, the chief financial officer now directly owns 5,446 shares of the company's stock, valued at approximately $515,845.12. This represents a 14.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 138,780 shares of company stock valued at $12,907,437 over the last 90 days. 27.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on WGS. TD Cowen raised their price objective on shares of GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. The Goldman Sachs Group increased their price target on GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, GeneDx presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.33.

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.