Nuveen Asset Management LLC Raises Stock Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

Nuveen Asset Management LLC boosted its stake in GeneDx Holdings Corp. (NASDAQ:WGS) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 197,365 shares of the company’s stock after buying an additional 3,084 shares during the period. Nuveen Asset Management LLC owned approximately 0.72% of GeneDx worth $15,169,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in GeneDx by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company’s stock valued at $77,337,000 after buying an additional 156,768 shares during the period. William Blair Investment Management LLC purchased a new stake in GeneDx in the 4th quarter valued at about $51,496,000. Lord Abbett & CO. LLC purchased a new stake in GeneDx in the 4th quarter valued at about $48,458,000. Fred Alger Management LLC raised its holdings in GeneDx by 38.5% in the 4th quarter. Fred Alger Management LLC now owns 546,054 shares of the company’s stock valued at $41,970,000 after buying an additional 151,824 shares during the period. Finally, Science & Technology Partners L.P. purchased a new stake in GeneDx in the 4th quarter valued at about $30,821,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at GeneDx

In other news, CFO Kevin Feeley sold 922 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $94.72, for a total value of $87,331.84. Following the completion of the sale, the chief financial officer now directly owns 5,446 shares of the company’s stock, valued at approximately $515,845.12. This represents a 14.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith A. Meister acquired 100,000 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was purchased at an average cost of $56.01 per share, with a total value of $5,601,000.00. Following the completion of the acquisition, the director now directly owns 3,008,629 shares of the company’s stock, valued at approximately $168,513,310.29. This trade represents a 3.44% increase in their position. The disclosure for this purchase can be found here. Insiders sold 139,390 shares of company stock valued at $13,043,288 over the last three months. 29.60% of the stock is owned by corporate insiders.

GeneDx Stock Performance

Shares of GeneDx stock opened at $71.60 on Monday. GeneDx Holdings Corp. has a one year low of $19.54 and a one year high of $117.75. The company has a market cap of $2.04 billion, a PE ratio of -36.53 and a beta of 1.96. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The business has a 50-day simple moving average of $84.79 and a 200-day simple moving average of $82.41.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.17. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The business had revenue of $87.12 million during the quarter, compared to the consensus estimate of $79.90 million. On average, equities research analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on WGS. Wells Fargo & Company cut their price target on shares of GeneDx from $105.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. TD Securities cut their price target on shares of GeneDx from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Jefferies Financial Group upgraded shares of GeneDx from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Friday, May 9th. Guggenheim began coverage on shares of GeneDx in a research note on Thursday, May 15th. They set a “buy” rating and a $88.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price target on shares of GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $86.75.

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.