Algert Global LLC lifted its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) by 386.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,128 shares of the company's stock after purchasing an additional 52,526 shares during the period. Algert Global LLC owned 0.24% of GeneDx worth $2,806,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in WGS. Acadian Asset Management LLC bought a new position in GeneDx during the second quarter worth about $34,000. nVerses Capital LLC acquired a new stake in shares of GeneDx in the second quarter valued at approximately $50,000. CWM LLC bought a new position in shares of GeneDx during the 3rd quarter worth approximately $89,000. SG Americas Securities LLC acquired a new position in shares of GeneDx during the 3rd quarter worth approximately $198,000. Finally, Palumbo Wealth Management LLC bought a new stake in GeneDx in the 3rd quarter valued at $287,000. Institutional investors and hedge funds own 61.72% of the company's stock.
WGS has been the subject of a number of research reports. Craig Hallum raised their target price on shares of GeneDx from $70.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. TD Cowen boosted their price objective on GeneDx from $46.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their target price on GeneDx from $34.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. BTIG Research boosted their price target on GeneDx from $35.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group increased their price objective on GeneDx from $54.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.33.
View Our Latest Analysis on GeneDx
Shares of NASDAQ:WGS opened at $80.52 on Wednesday. The business's 50 day simple moving average is $60.46 and its 200 day simple moving average is $40.26. GeneDx Holdings Corp. has a 1 year low of $1.41 and a 1 year high of $89.11. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The company has a market capitalization of $2.21 billion, a P/E ratio of -25.89 and a beta of 2.11.
GeneDx (NASDAQ:WGS - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.25. The company had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. GeneDx's quarterly revenue was up 44.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.82) EPS. On average, research analysts anticipate that GeneDx Holdings Corp. will post -0.24 EPS for the current fiscal year.
In other news, CEO Katherine Stueland sold 2,154 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $66.60, for a total value of $143,456.40. Following the sale, the chief executive officer now directly owns 105,426 shares in the company, valued at approximately $7,021,371.60. This trade represents a 2.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Feeley sold 12,019 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $73.76, for a total transaction of $886,521.44. Following the transaction, the chief financial officer now owns 32,932 shares of the company's stock, valued at approximately $2,429,064.32. This represents a 26.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,109,109 shares of company stock worth $81,980,692 over the last three months. Insiders own 27.30% of the company's stock.
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.
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