Renaissance Technologies LLC Has $15.77 Million Stock Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Renaissance Technologies LLC raised its holdings in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 119.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 205,116 shares of the company's stock after purchasing an additional 111,543 shares during the period. Renaissance Technologies LLC owned about 0.75% of GeneDx worth $15,765,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Barclays PLC increased 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 buying an additional 14,681 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in GeneDx during the 3rd quarter worth $325,000. Franklin Resources Inc. bought a new stake in shares of GeneDx in the 3rd quarter worth about $301,000. Prudential Financial Inc. acquired a new stake in shares of GeneDx in the 4th quarter valued at about $7,938,000. Finally, JPMorgan Chase & Co. lifted its position in shares of GeneDx by 617.3% during the third quarter. JPMorgan Chase & Co. now owns 52,161 shares of the company's stock worth $2,214,000 after purchasing an additional 44,889 shares during the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

GeneDx Stock Performance

WGS stock traded down $2.81 during midday trading on Friday, reaching $95.47. The company had a trading volume of 621,673 shares, compared to its average volume of 685,016. 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 50 day moving average price of $93.79 and a 200 day moving average price of $80.27. The firm has a market capitalization of $2.68 billion, a PE ratio of -48.71 and a beta of 1.93. GeneDx Holdings Corp. has a fifty-two week low of $9.60 and a fifty-two week high of $115.60.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings data 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. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The firm had revenue of $95.64 million for the quarter, compared to the consensus estimate of $82.24 million. Analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. TD Cowen boosted their price objective on GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a report on Tuesday, January 7th. 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 research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $72.33.

Insiders Place Their Bets

In other news, CEO Katherine Stueland sold 1,657 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $78.48, for a total value of $130,041.36. Following the completion of the transaction, the chief executive officer now directly owns 3,937 shares in the company, valued at $308,975.76. This trade represents a 29.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Feeley sold 15,516 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $92.18, for a total value of $1,430,264.88. Following the sale, the chief financial officer now directly owns 1,726 shares in the company, valued at approximately $159,102.68. The trade was a 89.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 138,780 shares of company stock worth $12,907,437. 27.30% of the stock is owned by company insiders.

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.