VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in GeneDx Holdings Corp. $WGS

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) in the second quarter, according to its most recent filing with the SEC. The firm purchased 5,400 shares of the company’s stock, valued at approximately $498,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. William Blair Investment Management LLC lifted its position in shares of GeneDx by 37.2% during the 2nd quarter. William Blair Investment Management LLC now owns 1,631,402 shares of the company’s stock valued at $150,595,000 after acquiring an additional 442,414 shares during the period. Vanguard Group Inc. raised its position in shares of GeneDx by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 1,031,326 shares of the company’s stock worth $91,339,000 after purchasing an additional 25,116 shares during the last quarter. Fred Alger Management LLC raised its position in shares of GeneDx by 2.0% during the 1st quarter. Fred Alger Management LLC now owns 557,018 shares of the company’s stock worth $49,332,000 after purchasing an additional 10,964 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of GeneDx during the 1st quarter worth approximately $44,614,000. Finally, Zweig DiMenna Associates LLC raised its position in shares of GeneDx by 47.7% during the 1st quarter. Zweig DiMenna Associates LLC now owns 457,100 shares of the company’s stock worth $40,483,000 after purchasing an additional 147,600 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Stock Up 3.0%

Shares of NASDAQ WGS opened at $128.87 on Friday. GeneDx Holdings Corp. has a 52-week low of $55.17 and a 52-week high of $136.00. The firm has a fifty day moving average of $123.22 and a 200-day moving average of $97.73. The stock has a market capitalization of $3.70 billion, a PE ratio of 2,577.40 and a beta of 1.98. The company has a quick ratio of 2.70, a current ratio of 2.87 and a debt-to-equity ratio of 0.19.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data 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 net margin of 0.39% and a return on equity of 16.51%. The company had revenue of $102.69 million during the quarter, compared to analysts’ expectations of $86.00 million. GeneDx has set its FY 2025 guidance at EPS. On average, analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Activity at GeneDx

In other news, Director Jason Ryan sold 38,072 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $127.30, for a total transaction of $4,846,565.60. Following the completion of the sale, the director directly owned 103,284 shares of the company’s stock, valued at $13,148,053.20. The trade was a 26.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Katherine Stueland sold 10,501 shares of the company’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $121.47, for a total transaction of $1,275,556.47. Following the sale, the chief executive officer directly owned 14,578 shares of the company’s stock, valued at approximately $1,770,789.66. This trade represents a 41.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 556,371 shares of company stock valued at $67,489,314 over the last quarter. 29.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

WGS has been the subject of several research reports. BTIG Research lifted their price objective on GeneDx from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday. Zacks Research downgraded GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Piper Sandler lifted their price objective on GeneDx from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Guggenheim restated a “buy” rating and set a $115.00 price objective (up from $88.00) on shares of GeneDx in a research report on Monday, June 30th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of GeneDx in a research report on Friday. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, GeneDx has an average rating of “Moderate Buy” and a consensus target price of $112.80.

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.