Norges Bank bought a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 68,000 shares of the company's stock, valued at approximately $5,226,000. Norges Bank owned about 0.25% of GeneDx at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in GeneDx by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company's stock worth $77,337,000 after acquiring an additional 156,768 shares during the period. William Blair Investment Management LLC purchased a new stake in GeneDx in the 4th quarter worth approximately $51,496,000. Geode Capital Management LLC grew its stake in shares of 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 increased its holdings in shares of GeneDx by 18.3% during the 3rd quarter. State Street Corp now owns 314,914 shares of the company's stock valued at $13,365,000 after purchasing an additional 48,735 shares in the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of GeneDx in the 4th quarter valued at $23,788,000. Hedge funds and other institutional investors own 61.72% of the company's stock.
Insider Activity at GeneDx
In other news, CEO Katherine Stueland sold 1,657 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $78.48, for a total value of $130,041.36. Following the completion of the sale, the chief executive officer now directly owns 3,937 shares in the company, valued at $308,975.76. This represents a 29.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin Feeley sold 922 shares of GeneDx stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $94.72, for a total value of $87,331.84. Following the transaction, the chief financial officer now owns 5,446 shares in the company, valued at approximately $515,845.12. The trade was a 14.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 138,780 shares of company stock valued at $12,907,437. 27.30% of the stock is owned by insiders.
Analyst Ratings Changes
Several analysts recently commented on WGS shares. The Goldman Sachs Group raised their price target on shares of GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. TD Cowen raised their target price on GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $72.33.
Read Our Latest Stock Report on WGS
GeneDx Price Performance
Shares of NASDAQ WGS traded down $2.41 during trading on Tuesday, hitting $98.63. The company had a trading volume of 129,831 shares, compared to its average volume of 672,548. GeneDx Holdings Corp. has a fifty-two week low of $8.63 and a fifty-two week high of $115.60. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $91.11 and a two-hundred day simple moving average of $78.78. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of -50.49 and a beta of 1.93.
GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.66. The company had revenue of $95.64 million for the quarter, compared to analysts' expectations of $82.24 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. On average, research analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.
About GeneDx
(
Free Report)
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.
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