Raymond James Financial Inc. Buys New Shares in GeneDx Holdings Corp. (NASDAQ:WGS)

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

Several other institutional investors have also recently made changes to their positions in WGS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of GeneDx in the 3rd quarter worth approximately $325,000. State Street Corp boosted its holdings in GeneDx by 18.3% in the third 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 in the last quarter. Barclays PLC grew its stake in shares of GeneDx by 346.3% in the third quarter. Barclays PLC now owns 18,921 shares of the company's stock worth $803,000 after acquiring an additional 14,681 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of GeneDx by 8.7% during the third quarter. Geode Capital Management LLC now owns 377,631 shares of the company's stock valued at $16,030,000 after acquiring an additional 30,379 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in shares of GeneDx in the 3rd quarter worth about $514,000. Institutional investors own 61.72% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WGS shares. 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 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 stock a "neutral" rating in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $72.33.

Insider Buying and Selling

In other news, CFO Kevin Feeley sold 922 shares of GeneDx stock in a transaction on Monday, March 10th. The shares were sold at an average price of $94.72, for a total transaction of $87,331.84. Following the transaction, the chief financial officer now owns 5,446 shares in the company, valued at $515,845.12. This trade represents a 14.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Katherine Stueland sold 2,731 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $94.73, for a total value of $258,707.63. Following the completion of the transaction, the chief executive officer now directly owns 7,752 shares in the company, valued at approximately $734,346.96. This represents a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 138,780 shares of company stock valued at $12,907,437. 27.30% of the stock is owned by insiders.

GeneDx Stock Performance

NASDAQ:WGS traded up $8.80 during trading hours on Wednesday, reaching $105.69. The company had a trading volume of 1,239,903 shares, compared to its average volume of 690,804. The firm's 50 day moving average price is $94.57 and its 200-day moving average price is $80.67. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -53.92 and a beta of 1.93. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. GeneDx Holdings Corp. has a 52 week low of $10.18 and a 52 week high of $115.60.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.66. The company had revenue of $95.64 million during 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, analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

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.