GeneDx Holdings Corp. (NASDAQ:WGS) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 120.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,849 shares of the company’s stock after acquiring an additional 9,202 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.06% of GeneDx worth $1,295,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC lifted its position in GeneDx by 877.8% during the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock worth $27,000 after buying an additional 316 shares in the last quarter. Global Retirement Partners LLC acquired a new position in GeneDx during the fourth quarter worth $28,000. Lazard Asset Management LLC acquired a new position in GeneDx during the fourth quarter worth $35,000. Comerica Bank acquired a new position in GeneDx during the fourth quarter worth $50,000. Finally, Quarry LP acquired a new position in GeneDx during the fourth quarter worth $78,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at GeneDx

In other news, CFO Kevin Feeley sold 370 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $71.26, for a total transaction of $26,366.20. Following the completion of the transaction, the chief financial officer now directly owns 4,105 shares in the company, valued at $292,522.30. This trade represents a 8.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Katherine Stueland sold 10,559 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $96.71, for a total value of $1,021,160.89. Following the transaction, the chief executive officer now owns 14,865 shares of the company’s stock, valued at approximately $1,437,594.15. This represents a 41.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,107 shares of company stock worth $12,723,615 over the last ninety days. Company insiders own 29.60% of the company’s stock.

GeneDx Price Performance

WGS stock opened at $72.42 on Tuesday. The business has a fifty day moving average of $79.63 and a two-hundred day moving average of $82.23. 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 stock has a market cap of $2.07 billion, a price-to-earnings ratio of -36.95 and a beta of 1.94. GeneDx Holdings Corp. has a 52-week low of $24.50 and a 52-week high of $117.75.

GeneDx (NASDAQ:WGS) last posted its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $87.12 million during the quarter, compared to analysts’ expectations of $79.90 million. As a group, research analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current 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.