Rhumbline Advisers Has $480,000 Stock Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

Rhumbline Advisers raised its position in GeneDx Holdings Corp. (NASDAQ:WGS) by 8,096.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,360 shares of the company’s stock after buying an additional 18,136 shares during the quarter. Rhumbline Advisers owned 0.07% of GeneDx worth $480,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in shares of GeneDx during the 2nd quarter worth $50,000. Thompson Davis & CO. Inc. increased its holdings in GeneDx by 20.8% in the 1st quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock worth $220,000 after purchasing an additional 4,150 shares in the last quarter. Legal Advantage Investments Inc. acquired a new position in GeneDx in the 2nd quarter worth about $518,000. Vanguard Group Inc. increased its holdings in GeneDx by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock worth $6,460,000 after purchasing an additional 28,678 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in GeneDx in the 2nd quarter worth about $991,000. 61.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WGS has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on GeneDx in a research note on Monday, June 3rd. They issued a “hold” rating and a $21.00 price target for the company. Wells Fargo & Company started coverage on GeneDx in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 target price for the company. TD Cowen raised their target price on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Craig Hallum raised their target price on GeneDx from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group raised their target price on GeneDx from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Three research 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.com, GeneDx currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

GeneDx Price Performance

Shares of NASDAQ WGS opened at $40.62 on Friday. The company has a 50 day moving average of $34.13 and a 200 day moving average of $24.45. The company has a quick ratio of 2.22, a current ratio of 2.38 and a debt-to-equity ratio of 0.27. GeneDx Holdings Corp. has a twelve month low of $1.16 and a twelve month high of $43.32. The firm has a market cap of $1.06 billion, a P/E ratio of -7.84 and a beta of 2.29.

GeneDx (NASDAQ:WGS) last announced its earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.15. The company had revenue of $70.51 million during the quarter, compared to analyst estimates of $58.90 million. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. As a group, research analysts expect that GeneDx Holdings Corp. will post -0.75 EPS for the current fiscal year.

Insider Transactions at GeneDx

In other news, major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $26.63, for a total value of $1,331,500.00. Following the sale, the insider now directly owns 3,508,603 shares of the company’s stock, valued at $93,434,097.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Katherine Stueland sold 2,154 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $33.54, for a total value of $72,245.16. Following the completion of the sale, the chief executive officer now owns 92,550 shares in the company, valued at $3,104,127. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Opko Health, Inc. sold 50,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $26.63, for a total value of $1,331,500.00. Following the sale, the insider now owns 3,508,603 shares of the company’s stock, valued at approximately $93,434,097.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 743,868 shares of company stock valued at $24,114,996. 28.10% of the stock is currently owned by insiders.

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.