PNC Financial Services Group Inc. Buys New Stake in GeneDx Holdings Corp. $WGS

PNC Financial Services Group Inc. bought a new stake in GeneDx Holdings Corp. (NASDAQ:WGS) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,485 shares of the company’s stock, valued at approximately $132,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sterling Capital Management LLC lifted its stake in shares of GeneDx by 877.8% during the 4th quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock worth $27,000 after purchasing an additional 316 shares during the period. Lazard Asset Management LLC purchased a new position in shares of GeneDx during the 4th quarter worth $35,000. GAMMA Investing LLC lifted its stake in shares of GeneDx by 151.7% during the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company’s stock worth $39,000 after purchasing an additional 264 shares during the period. Comerica Bank purchased a new position in shares of GeneDx during the 4th quarter worth $50,000. Finally, US Bancorp DE lifted its stake in shares of GeneDx by 3,223.5% during the 1st quarter. US Bancorp DE now owns 565 shares of the company’s stock worth $50,000 after purchasing an additional 548 shares during the period. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Insider Buying and Selling at GeneDx

In related news, CEO Katherine Stueland sold 2,154 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $105.31, for a total value of $226,837.74. Following the completion of the sale, the chief executive officer directly owned 3,440 shares in the company, valued at approximately $362,266.40. This represents a 38.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Feeley sold 388 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $105.31, for a total value of $40,860.28. Following the completion of the sale, the chief financial officer owned 3,757 shares of the company’s stock, valued at approximately $395,649.67. This represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,411 shares of company stock valued at $2,085,051. 29.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WGS. Guggenheim reissued a “buy” rating and set a $115.00 price target (up previously from $88.00) on shares of GeneDx in a research note on Monday, June 30th. Wells Fargo & Company increased their price target on GeneDx from $78.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Wall Street Zen raised GeneDx from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Jefferies Financial Group raised 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. Finally, 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. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.63.

GeneDx Trading Down 4.2%

Shares of WGS opened at $120.65 on Wednesday. The company has a current ratio of 2.87, a quick ratio of 2.70 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $3.47 billion, a P/E ratio of 2,413.00 and a beta of 2.02. The stock’s fifty day simple moving average is $90.48 and its 200 day simple moving average is $86.38. GeneDx Holdings Corp. has a twelve month low of $28.86 and a twelve month high of $127.55.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.40. GeneDx had a return on equity of 16.51% and a net margin of 0.39%.The firm had revenue of $102.69 million during the quarter, compared to the consensus estimate of $86.00 million. GeneDx has set its FY 2025 guidance at EPS. On average, equities research analysts forecast 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.