Cim LLC Purchases New Shares in GeneDx Holdings Corp. $WGS

Cim LLC bought a new position in GeneDx Holdings Corp. (NASDAQ:WGS) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,770 shares of the company’s stock, valued at approximately $440,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. US Bancorp DE increased its position in shares of GeneDx by 3,223.5% during the 1st quarter. US Bancorp DE now owns 565 shares of the company’s stock valued at $50,000 after purchasing an additional 548 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in GeneDx during the first quarter valued at about $132,000. Vanguard Group Inc. increased its holdings in GeneDx by 2.5% during the first quarter. Vanguard Group Inc. now owns 1,031,326 shares of the company’s stock worth $91,339,000 after buying an additional 25,116 shares during the last quarter. Swiss National Bank raised its position in GeneDx by 34.0% in the first quarter. Swiss National Bank now owns 31,900 shares of the company’s stock worth $2,825,000 after acquiring an additional 8,100 shares during the period. Finally, Invesco Ltd. boosted its stake in GeneDx by 52.6% in the first quarter. Invesco Ltd. now owns 389,579 shares of the company’s stock valued at $34,503,000 after acquiring an additional 134,228 shares during the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on WGS. BTIG Research increased their price objective on GeneDx from $165.00 to $200.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company upped their price target on GeneDx from $95.00 to $140.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Canaccord Genuity Group set a $160.00 price target on GeneDx and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Piper Sandler boosted their price objective on GeneDx from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Finally, Wall Street Zen downgraded shares of GeneDx from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, GeneDx currently has an average rating of “Moderate Buy” and a consensus target price of $133.11.

GeneDx Stock Performance

GeneDx stock opened at $151.51 on Monday. GeneDx Holdings Corp. has a 1-year low of $55.17 and a 1-year high of $170.87. The company has a current ratio of 2.71, a quick ratio of 2.59 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $4.38 billion, a PE ratio of 1,683.44 and a beta of 1.98. The firm’s 50 day simple moving average is $139.26 and its 200 day simple moving average is $114.15.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.21. The firm had revenue of $116.74 million for the quarter, compared to analysts’ expectations of $104.33 million. GeneDx had a net margin of 0.52% and a return on equity of 20.22%. As a group, analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at GeneDx

In other GeneDx news, Director Joshua Ruch sold 38,000 shares of GeneDx stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $160.37, for a total transaction of $6,094,060.00. Following the completion of the sale, the director directly owned 11,941 shares in the company, valued at $1,914,978.17. The trade was a 76.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Katherine Stueland sold 3,639 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $159.28, for a total transaction of $579,619.92. Following the completion of the transaction, the chief executive officer directly owned 6,344 shares in the company, valued at $1,010,472.32. The trade was a 36.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 59,680 shares of company stock valued at $8,951,356 in the last 90 days. Corporate insiders own 29.60% of the company’s stock.

GeneDx Company 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.