JPMorgan Chase & Co. Has $3 Million Position in GeneDx Holdings Corp. $WGS

JPMorgan Chase & Co. boosted its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 37.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,794 shares of the company’s stock after acquiring an additional 7,592 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.10% of GeneDx worth $2,995,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in shares of GeneDx by 101.9% during the 3rd quarter. Franklin Resources Inc. now owns 681,381 shares of the company’s stock worth $73,412,000 after purchasing an additional 343,954 shares during the last quarter. Invesco Ltd. lifted its stake in shares of GeneDx by 42.3% in the 2nd quarter. Invesco Ltd. now owns 554,419 shares of the company’s stock valued at $51,178,000 after purchasing an additional 164,840 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in GeneDx by 15.1% in the third quarter. Raymond James Financial Inc. now owns 475,543 shares of the company’s stock worth $51,235,000 after purchasing an additional 62,320 shares in the last quarter. ARK Investment Management LLC acquired a new position in GeneDx during the third quarter worth $48,157,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in GeneDx during the third quarter worth $31,488,000. 61.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WGS has been the subject of a number of analyst reports. Wells Fargo & Company raised GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 price target for the company in a research report on Monday, February 9th. BTIG Research cut their price objective on GeneDx from $200.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings restated a “sell (d)” rating on shares of GeneDx in a report on Wednesday, January 21st. Jefferies Financial Group set a $150.00 price target on GeneDx in a report on Monday, February 23rd. Finally, Zacks Research raised shares of GeneDx from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $140.71.

GeneDx Stock Performance

Shares of NASDAQ:WGS opened at $66.20 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.34 and a current ratio of 2.46. The stock’s 50-day moving average is $81.75 and its 200-day moving average is $114.56. The company has a market cap of $1.94 billion, a P/E ratio of -88.27 and a beta of 2.17. GeneDx Holdings Corp. has a 52-week low of $55.17 and a 52-week high of $170.87.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.03. GeneDx had a positive return on equity of 14.73% and a negative net margin of 4.92%.The business had revenue of $120.99 million during the quarter, compared to analysts’ expectations of $120.80 million. Equities research analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Bryan Dechairo sold 5,961 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $85.70, for a total value of $510,857.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Keith A. Meister acquired 140,026 shares of the stock in a transaction dated Thursday, March 5th. The stock was bought at an average price of $81.19 per share, for a total transaction of $11,368,710.94. Following the purchase, the director owned 3,228,150 shares of the company’s stock, valued at $262,093,498.50. The trade was a 4.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 112,808 shares of company stock valued at $8,245,748 in the last three months. 29.60% of the stock is owned by corporate insiders.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.