Fmr LLC Has $2.28 Million Stock Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

Fmr LLC raised its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 295.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,825 shares of the company’s stock after purchasing an additional 40,219 shares during the quarter. Fmr LLC owned approximately 0.20% of GeneDx worth $2,284,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in GeneDx during the 2nd quarter valued at $34,000. nVerses Capital LLC acquired a new stake in shares of GeneDx during the second quarter worth $50,000. CWM LLC acquired a new position in GeneDx in the third quarter valued at about $89,000. American Century Companies Inc. raised its stake in GeneDx by 36.1% in the second quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock valued at $451,000 after purchasing an additional 4,573 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in GeneDx in the third quarter valued at about $198,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Insider Transactions at GeneDx

In related news, CFO Kevin Feeley sold 1,137 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $76.37, for a total transaction of $86,832.69. Following the completion of the sale, the chief financial officer now owns 24,731 shares in the company, valued at approximately $1,888,706.47. This represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 shares were sold at an average price of $75.00, for a total value of $64,935,000.00. Following the completion of the transaction, the insider now owns 2,866,833 shares of the company’s stock, valued at $215,012,475. This trade represents a 23.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,109,374 shares of company stock worth $82,208,306. Insiders own 27.30% of the company’s stock.

Wall Street Analyst Weigh In

WGS has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Craig Hallum boosted their price target on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their target price on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.33.

GeneDx Stock Performance

GeneDx stock opened at $75.43 on Friday. GeneDx Holdings Corp. has a 12-month low of $1.76 and a 12-month 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 business’s 50-day moving average price is $70.21 and its two-hundred day moving average price is $45.53. The stock has a market cap of $2.07 billion, a PE ratio of -24.25 and a beta of 2.03.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.25. The company had revenue of $76.90 million for 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 quarterly revenue was up 44.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.82) earnings per share. As a group, analysts expect that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

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.