Science & Technology Partners L.P. Invests $30.82 Million in GeneDx Holdings Corp. (NASDAQ:WGS)

Science & Technology Partners L.P. bought a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 401,000 shares of the company's stock, valued at approximately $30,821,000. GeneDx comprises about 9.4% of Science & Technology Partners L.P.'s holdings, making the stock its largest position. Science & Technology Partners L.P. owned 1.46% of GeneDx at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of WGS. William Blair Investment Management LLC acquired a new position in shares of GeneDx during the 4th quarter valued at $51,496,000. Zweig DiMenna Associates LLC bought a new stake in GeneDx in the fourth quarter valued at $23,788,000. Raymond James Financial Inc. acquired a new position in shares of GeneDx during the fourth quarter valued at about $20,371,000. Invesco Ltd. boosted its position in shares of GeneDx by 4,382.2% during the 4th quarter. Invesco Ltd. now owns 255,351 shares of the company's stock worth $19,626,000 after purchasing an additional 249,654 shares in the last quarter. Finally, Next Century Growth Investors LLC grew its stake in shares of GeneDx by 121.1% in the 4th quarter. Next Century Growth Investors LLC now owns 312,014 shares of the company's stock valued at $23,981,000 after buying an additional 170,901 shares during the period. Institutional investors and hedge funds own 61.72% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on WGS shares. The Goldman Sachs Group increased their price target on GeneDx from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. TD Cowen boosted 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $72.33.

Insiders Place Their Bets

In other GeneDx news, CFO Kevin Feeley sold 402 shares of the business's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $90.05, for a total value of $36,200.10. Following the sale, the chief financial officer now directly owns 5,044 shares in the company, valued at $454,212.20. The trade was a 7.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Katherine Stueland sold 1,657 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $78.48, for a total transaction of $130,041.36. Following the sale, the chief executive officer now directly owns 3,937 shares in the company, valued at $308,975.76. The trade was a 29.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 138,780 shares of company stock valued at $12,907,437. Company insiders own 27.30% of the company's stock.

GeneDx Stock Performance

Shares of NASDAQ WGS traded up $3.38 during midday trading on Tuesday, reaching $115.87. The company's stock had a trading volume of 401,290 shares, compared to its average volume of 700,966. The firm has a 50 day moving average price of $95.80 and a 200-day moving average price of $82.37. The stock has a market capitalization of $3.25 billion, a P/E ratio of -59.12 and a beta of 1.93. GeneDx Holdings Corp. has a 12-month low of $10.70 and a 12-month high of $116.24. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.66. The firm had revenue of $95.64 million during 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%. As a group, equities analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

GeneDx 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.