State Street Corp Has $13.37 Million Stock Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

State Street Corp lifted its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 18.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 314,914 shares of the company's stock after purchasing an additional 48,735 shares during the quarter. State Street Corp owned approximately 1.15% of GeneDx worth $13,365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new stake in shares of GeneDx in the 2nd quarter valued at $2,362,000. Chartwell Investment Partners LLC acquired a new position in shares of GeneDx during the third quarter valued at $1,722,000. Charles Schwab Investment Management Inc. boosted its holdings in GeneDx by 304.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company's stock valued at $6,240,000 after acquiring an additional 110,666 shares during the last quarter. Lisanti Capital Growth LLC acquired a new position in GeneDx in the third quarter valued at approximately $1,554,000. Finally, Millennium Management LLC grew its stake in shares of GeneDx by 193.5% during the second quarter. Millennium Management LLC now owns 311,401 shares of the company's stock worth $8,140,000 after purchasing an additional 205,318 shares during the period. Institutional investors and hedge funds own 61.72% of the company's stock.

Insider Transactions at GeneDx

In other news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the company's stock in a transaction on Thursday, October 31st. The stock was 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 directly owns 2,866,833 shares in the company, valued at approximately $215,012,475. This represents a 23.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Katherine Stueland sold 2,154 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total value of $143,456.40. Following the sale, the chief executive officer now directly owns 105,426 shares in the company, valued at approximately $7,021,371.60. This trade represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,123,603 shares of company stock worth $83,300,382. Company insiders own 27.30% of the company's stock.

GeneDx Stock Performance

Shares of WGS stock traded up $2.05 during trading on Thursday, reaching $79.45. 427,796 shares of the company's stock were exchanged, compared to its average volume of 457,378. The firm's fifty day moving average price is $73.94 and its 200-day moving average price is $48.79. GeneDx Holdings Corp. has a twelve month low of $2.47 and a twelve month high of $89.11. The stock has a market capitalization of $2.18 billion, a PE ratio of -25.55 and a beta of 2.03. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.25. The company had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The company's revenue was up 44.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.82) earnings per share. As a group, sell-side analysts anticipate that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

WGS has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price objective on shares of GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on GeneDx from $54.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Finally, Craig Hallum boosted their target price on shares of GeneDx from $70.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, GeneDx has a consensus rating of "Moderate Buy" and an average price target of $59.33.

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.