Raymond James Financial Inc. Purchases Shares of 265,045 GeneDx Holdings Corp. (NASDAQ:WGS)

Raymond James Financial Inc. acquired a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 265,045 shares of the company's stock, valued at approximately $20,371,000. Raymond James Financial Inc. owned about 0.96% of GeneDx at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of WGS. Arizona State Retirement System acquired a new position in GeneDx in the 4th quarter valued at about $269,000. Victory Capital Management Inc. acquired a new position in GeneDx in the 4th quarter valued at about $209,000. Charles Schwab Investment Management Inc. grew its stake in GeneDx by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 151,403 shares of the company's stock valued at $11,637,000 after buying an additional 4,369 shares during the last quarter. Mission Wealth Management LP acquired a new position in GeneDx in the 4th quarter valued at about $384,000. Finally, Bailard Inc. acquired a new position in GeneDx in the 4th quarter valued at about $277,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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GeneDx Stock Performance

NASDAQ WGS traded down $0.53 during trading on Thursday, reaching $96.91. The company's stock had a trading volume of 376,821 shares, compared to its average volume of 615,608. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of -49.44 and a beta of 1.91. GeneDx Holdings Corp. has a 12 month low of $8.03 and a 12 month high of $115.60. The firm has a 50 day moving average price of $84.59 and a 200 day moving average price of $70.97.

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

Insider Transactions at GeneDx

In other news, CEO Katherine Stueland sold 18,006 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $78.18, for a total transaction of $1,407,709.08. Following the completion of the sale, the chief executive officer now owns 53,140 shares of the company's stock, valued at approximately $4,154,485.20. This represents a 25.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Feeley sold 35,506 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $93.82, for a total transaction of $3,331,172.92. Following the completion of the transaction, the chief financial officer now directly owns 2,472 shares of the company's stock, valued at approximately $231,923.04. The trade was a 93.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,735 shares of company stock valued at $11,719,787. Company 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.