Teacher Retirement System of Texas Purchases New Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Teacher Retirement System of Texas purchased a new stake in GeneDx Holdings Corp. (NASDAQ:WGS) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,978 shares of the company’s stock, valued at approximately $264,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. KBC Group NV acquired a new stake in GeneDx in the 1st quarter worth about $81,000. Allspring Global Investments Holdings LLC boosted its holdings in GeneDx by 111.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 190,297 shares of the company’s stock worth $16,097,000 after buying an additional 100,146 shares during the last quarter. Chung Wu Investment Group LLC acquired a new stake in GeneDx in the 1st quarter worth about $270,000. PFG Investments LLC boosted its holdings in GeneDx by 48.9% in the 1st quarter. PFG Investments LLC now owns 4,874 shares of the company’s stock worth $432,000 after buying an additional 1,600 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in GeneDx by 19.6% in the 1st quarter. SG Americas Securities LLC now owns 10,451 shares of the company’s stock worth $926,000 after buying an additional 1,716 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Insider Transactions at GeneDx

In related news, CEO Katherine Stueland sold 3,220 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $93.00, for a total transaction of $299,460.00. Following the completion of the transaction, the chief executive officer directly owned 1,720 shares of the company’s stock, valued at $159,960. This represents a 65.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Keith A. Meister purchased 100,000 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were 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 directly owned 3,008,629 shares of the company’s stock, valued at $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. Over the last quarter, insiders sold 22,411 shares of company stock worth $2,104,828. Company insiders own 29.60% of the company’s stock.

GeneDx Stock Performance

Shares of WGS stock opened at $77.87 on Friday. The company has a current ratio of 3.25, a quick ratio of 3.07 and a debt-to-equity ratio of 0.20. GeneDx Holdings Corp. has a 12 month low of $25.32 and a 12 month high of $117.75. The company has a market cap of $2.22 billion, a P/E ratio of -55.23 and a beta of 2.01. The firm has a fifty day moving average price of $75.50 and a 200 day moving average price of $82.83.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on WGS. Wall Street Zen cut GeneDx from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Guggenheim reiterated a “buy” rating and issued a $115.00 price objective (up from $88.00) on shares of GeneDx in a report on Monday, June 30th. TD Securities cut their target price on GeneDx from $135.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company cut their target price on GeneDx from $105.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Finally, Piper Sandler initiated coverage on GeneDx in a research report on Wednesday, July 9th. They issued an “overweight” rating and a $110.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, GeneDx currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.33.

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.