Rhumbline Advisers Sells 398 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Rhumbline Advisers lessened its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 2.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 19,352 shares of the company’s stock after selling 398 shares during the period. Rhumbline Advisers owned approximately 0.07% of GeneDx worth $1,714,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WGS. Sterling Capital Management LLC grew 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 bought a new stake in GeneDx in the 4th quarter valued at $28,000. Lazard Asset Management LLC acquired a new position in shares of GeneDx in the 4th quarter valued at $35,000. Comerica Bank bought a new position in shares of GeneDx during the 4th quarter worth about $50,000. Finally, Quarry LP acquired a new stake in shares of GeneDx during the 4th quarter valued at about $78,000. Institutional investors own 61.72% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Katherine Stueland sold 46,551 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $95.62, for a total value of $4,451,206.62. Following the sale, the chief executive officer now owns 48,314 shares of the company’s stock, valued at $4,619,784.68. The trade was a 49.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Keith A. Meister purchased 100,000 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were acquired at an average cost of $56.01 per share, for a total transaction of $5,601,000.00. Following the completion of the transaction, the director now directly owns 3,008,629 shares in the company, valued at approximately $168,513,310.29. This represents a 3.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 120,319 shares of company stock worth $11,207,272 over the last ninety days. 29.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

GeneDx Price Performance

GeneDx stock opened at $64.04 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.07 and a current ratio of 3.25. The firm has a market cap of $1.83 billion, a P/E ratio of -45.42 and a beta of 1.94. The business’s fifty day moving average is $77.38 and its two-hundred day moving average is $81.68. GeneDx Holdings Corp. has a 52 week low of $24.91 and a 52 week high of $117.75.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.17. GeneDx had a positive return on equity of 10.17% and a negative net margin of 11.69%. The company had revenue of $87.12 million for the quarter, compared to the consensus estimate of $79.90 million. Equities research analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

GeneDx 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.