Nisa Investment Advisors LLC Acquires 50,009 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Nisa Investment Advisors LLC grew its stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 147,085.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,043 shares of the company's stock after purchasing an additional 50,009 shares during the period. Nisa Investment Advisors LLC owned about 0.18% of GeneDx worth $3,846,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Driehaus Capital Management LLC acquired a new stake in GeneDx during the 2nd quarter worth $11,335,000. Fred Alger Management LLC purchased a new stake in GeneDx during the 3rd quarter worth approximately $16,731,000. Geode Capital Management LLC increased its holdings in GeneDx by 8.7% during the 3rd 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 during the period. State Street Corp raised its holdings in GeneDx by 18.3% in the third quarter. State Street Corp now owns 314,914 shares of the company's stock valued at $13,365,000 after acquiring an additional 48,735 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in GeneDx by 193.5% in the second quarter. Millennium Management LLC now owns 311,401 shares of the company's stock valued at $8,140,000 after buying an additional 205,318 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at GeneDx

In other GeneDx news, major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $69.78, for a total transaction of $1,420,651.02. Following the transaction, the insider now directly owns 2,846,474 shares of the company's stock, valued at $198,626,955.72. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Katherine Stueland sold 51,420 shares of GeneDx stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $94.48, for a total value of $4,858,161.60. Following the sale, the chief executive officer now directly owns 1,720 shares in the company, valued at approximately $162,505.60. This trade represents a 96.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,229,965 shares of company stock valued at $93,006,163. Company insiders own 27.30% of the company's stock.

GeneDx Stock Up 2.1 %

Shares of NASDAQ:WGS traded up $1.61 during midday trading on Friday, reaching $79.27. The company had a trading volume of 877,271 shares, compared to its average volume of 727,403. The stock's fifty day moving average price is $77.89 and its 200-day moving average price is $56.81. GeneDx Holdings Corp. has a one year low of $2.85 and a one year high of $98.87. The stock has a market capitalization of $2.18 billion, a P/E ratio of -25.49 and a beta of 2.02. 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 announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates 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 period in the prior year, the firm earned ($0.82) EPS. The business's quarterly revenue was up 44.3% on a year-over-year basis. Equities research analysts expect that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

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.