Thoroughbred Financial Services LLC Acquires New Stake in GeneDx Holdings Corp. (NASDAQ:WGS)

Thoroughbred Financial Services LLC bought a new stake in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,250 shares of the company's stock, valued at approximately $403,000.

A number of other large investors have also added to or reduced their stakes in the company. MCF Advisors LLC boosted its position in GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company's stock valued at $27,000 after buying an additional 182 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of GeneDx in the fourth quarter worth about $28,000. KLP Kapitalforvaltning AS purchased a new position in GeneDx in the fourth quarter valued at about $200,000. Evolution Wealth Advisors LLC acquired a new stake in GeneDx during the 4th quarter valued at approximately $202,000. Finally, Victory Capital Management Inc. purchased a new stake in GeneDx during the 4th quarter worth approximately $209,000. 61.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on WGS. The Goldman Sachs Group increased their target price on GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. TD Cowen increased their price objective 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $72.33.

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Insiders Place Their Bets

In other news, 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 completion of the transaction, the chief executive officer now owns 3,937 shares of the company's stock, valued at approximately $308,975.76. The trade was a 29.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Feeley sold 15,516 shares of the stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $92.18, for a total transaction of $1,430,264.88. Following the completion of the sale, the chief financial officer now directly owns 1,726 shares in the company, valued at approximately $159,102.68. This trade represents a 89.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 138,780 shares of company stock valued at $12,907,437 over the last quarter. Insiders own 27.30% of the company's stock.

GeneDx Stock Performance

Shares of NASDAQ WGS traded up $4.01 during trading on Friday, reaching $96.63. The stock had a trading volume of 856,334 shares, compared to its average volume of 672,104. The firm's 50 day moving average price is $90.43 and its two-hundred day moving average price is $78.11. GeneDx Holdings Corp. has a one year low of $8.63 and a one year high of $115.60. The stock has a market cap of $2.71 billion, a PE ratio of -49.30 and a beta of 1.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40.

GeneDx (NASDAQ:WGS - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $95.64 million for the quarter, compared to analysts' expectations of $82.24 million. On average, research analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

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.