Prudential Financial Inc. Takes Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Prudential Financial Inc. acquired a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 103,275 shares of the company's stock, valued at approximately $7,938,000. Prudential Financial Inc. owned 0.38% of GeneDx at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WGS. MCF Advisors LLC raised its stake in GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company's stock valued at $27,000 after purchasing an additional 182 shares during the period. Global Retirement Partners LLC bought a new position in shares of GeneDx during the fourth quarter worth $28,000. KLP Kapitalforvaltning AS purchased a new position in GeneDx during the fourth quarter valued at $200,000. Evolution Wealth Advisors LLC purchased a new position in GeneDx during the fourth quarter valued at $202,000. Finally, Victory Capital Management Inc. bought a new stake in GeneDx in the 4th quarter valued at $209,000. Hedge funds and other institutional investors own 61.72% of the company's stock.

GeneDx Trading Down 5.6 %

NASDAQ WGS traded down $4.76 during trading hours on Thursday, hitting $80.11. 778,765 shares of the company were exchanged, compared to its average volume of 651,176. The stock has a market cap of $2.25 billion, a PE ratio of -40.87 and a beta of 1.91. GeneDx Holdings Corp. has a 52 week low of $8.63 and a 52 week high of $115.60. The stock has a 50-day moving average price of $88.10 and a 200 day moving average price of $75.26. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

Remove Ads

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

Analyst Upgrades and Downgrades

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

Insider Activity at GeneDx

In other news, CFO Kevin Feeley sold 402 shares of GeneDx stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $90.05, for a total transaction of $36,200.10. Following the completion of the sale, the chief financial officer now directly owns 5,044 shares in the company, valued at approximately $454,212.20. This trade represents a 7.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Katherine Stueland sold 51,420 shares of the company's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the completion of the transaction, the chief executive officer now owns 1,720 shares in the company, valued at approximately $162,505.60. The trade was a 96.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 163,596 shares of company stock worth $15,490,752. Insiders own 27.30% of the company's stock.

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.