SG Americas Securities LLC Raises Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

SG Americas Securities LLC grew its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 87.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,735 shares of the company's stock after acquiring an additional 4,068 shares during the quarter. SG Americas Securities LLC's holdings in GeneDx were worth $671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. American Century Companies Inc. lifted its stake in GeneDx by 36.1% during the 2nd quarter. American Century Companies Inc. now owns 17,258 shares of the company's stock valued at $451,000 after acquiring an additional 4,573 shares during the period. Squarepoint Ops LLC raised its holdings in shares of GeneDx by 124.9% during the second quarter. Squarepoint Ops LLC now owns 59,949 shares of the company's stock worth $1,567,000 after purchasing an additional 33,293 shares during the last quarter. Millennium Management LLC lifted its position in GeneDx by 193.5% during the second quarter. Millennium Management LLC now owns 311,401 shares of the company's stock valued at $8,140,000 after purchasing an additional 205,318 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in GeneDx in the second quarter valued at $290,000. Finally, Algert Global LLC acquired a new stake in GeneDx during the 2nd quarter worth about $356,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of the company's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $69.78, for a total transaction of $1,420,651.02. Following the transaction, the insider now directly owns 2,846,474 shares of the company's stock, valued at $198,626,955.72. This represents a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Katherine Stueland sold 23,108 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $70.48, for a total transaction of $1,628,651.84. Following the completion of the transaction, the chief executive officer now owns 82,318 shares of the company's stock, valued at $5,801,772.64. This represents a 21.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 363,669 shares of company stock valued at $28,061,081. Insiders own 27.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on WGS shares. The Goldman Sachs Group boosted their price target on shares of GeneDx from $54.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. TD Cowen upped their price target on shares of GeneDx from $75.00 to $118.00 and gave the stock a "buy" rating in a research report on Tuesday, January 7th. Craig Hallum lifted their price target on GeneDx from $70.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price objective on shares of GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $70.67.

GeneDx Stock Down 2.9 %

Shares of NASDAQ WGS traded down $2.20 during midday trading on Monday, hitting $72.65. 463,386 shares of the company's stock were exchanged, compared to its average volume of 845,494. 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 Holdings Corp. has a twelve month low of $3.63 and a twelve month high of $98.87. The firm's fifty day simple moving average is $78.29 and its 200-day simple moving average is $58.33. The company has a market cap of $2.00 billion, a PE ratio of -23.46 and a beta of 2.01.

About GeneDx

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.