Ameriprise Financial Inc. Acquires New Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Ameriprise Financial Inc. purchased a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 34,407 shares of the company’s stock, valued at approximately $2,645,000. Ameriprise Financial Inc. owned 0.13% of GeneDx as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. acquired a new stake in shares of GeneDx in the fourth quarter worth $380,000. Prudential Financial Inc. acquired a new stake in shares of GeneDx in the fourth quarter worth $7,938,000. Voya Investment Management LLC acquired a new stake in shares of GeneDx in the fourth quarter worth $292,000. Raymond James Financial Inc. acquired a new stake in shares of GeneDx in the fourth quarter worth $20,371,000. Finally, Principal Financial Group Inc. increased its position in shares of GeneDx by 10.6% in the fourth quarter. Principal Financial Group Inc. now owns 15,751 shares of the company’s stock worth $1,211,000 after acquiring an additional 1,511 shares in the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Analyst Upgrades and Downgrades

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

GeneDx Price Performance

Shares of WGS stock opened at $70.02 on Thursday. The firm has a market cap of $2.00 billion, a P/E ratio of -35.72 and a beta of 1.96. 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 1-year low of $19.54 and a 1-year high of $117.75. The firm has a fifty day moving average of $83.05 and a two-hundred day moving average of $82.20.

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

Insider Transactions at GeneDx

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

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.