28,293 Shares in GeneDx Holdings Corp. (NASDAQ:WGS) Acquired by Royce & Associates LP

Royce & Associates LP purchased a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 28,293 shares of the company's stock, valued at approximately $1,201,000. Royce & Associates LP owned about 0.11% of GeneDx as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in GeneDx during the 2nd quarter worth $34,000. nVerses Capital LLC acquired a new position in shares of GeneDx during the second quarter worth about $50,000. CWM LLC purchased a new position in shares of GeneDx during the 3rd quarter worth approximately $89,000. SG Americas Securities LLC purchased a new position in GeneDx in the third quarter worth $198,000. Finally, Palumbo Wealth Management LLC acquired a new stake in GeneDx in the third quarter valued at $287,000. Institutional investors and hedge funds own 61.72% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on WGS shares. Wells Fargo & Company upped their price target on shares of GeneDx from $34.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. BTIG Research upped their target price on shares of GeneDx from $35.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. Craig Hallum lifted their price target on shares of GeneDx from $70.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. TD Cowen upped their price target on GeneDx from $46.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group lifted their price objective on GeneDx from $54.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $59.33.

GeneDx Price Performance

Shares of WGS traded down $1.55 during mid-day trading on Wednesday, reaching $69.49. 163,977 shares of the company's stock were exchanged, compared to its average volume of 449,691. GeneDx Holdings Corp. has a 52-week low of $1.29 and a 52-week high of $89.11. 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 company has a 50-day simple moving average of $57.43 and a two-hundred day simple moving average of $38.69. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -22.84 and a beta of 2.11.

GeneDx (NASDAQ:WGS - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.21) by $0.25. The company had revenue of $76.90 million during the quarter, compared to analysts' expectations of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The business's revenue for the quarter was up 44.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.82) earnings per share. On average, sell-side analysts predict that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling at GeneDx

In other news, CEO Katherine Stueland sold 22,307 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $70.34, for a total transaction of $1,569,074.38. Following the transaction, the chief executive officer now directly owns 60,011 shares in the company, valued at $4,221,173.74. This represents a 27.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the business's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the completion of the sale, the insider now owns 2,866,833 shares of the company's stock, valued at approximately $215,012,475. The trade was a 23.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,065,580 shares of company stock worth $78,848,138. Corporate 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.