SG Americas Securities LLC Invests $198,000 in GeneDx Holdings Corp. (NASDAQ:WGS)

SG Americas Securities LLC bought a new stake in GeneDx Holdings Corp. (NASDAQ:WGS) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,667 shares of the company’s stock, valued at approximately $198,000.

Several other large investors have also recently added to or reduced their stakes in WGS. Renaissance Technologies LLC acquired a new position in shares of GeneDx during the 2nd quarter valued at $2,362,000. Millennium Management LLC boosted its position in shares of GeneDx by 193.5% in the second quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock worth $8,140,000 after buying an additional 205,318 shares during the period. Algert Global LLC acquired a new stake in GeneDx during the second quarter valued at $356,000. Calamos Advisors LLC acquired a new stake in GeneDx during the second quarter valued at $1,137,000. Finally, Point72 Asset Management L.P. raised its holdings in GeneDx by 227.4% during the second quarter. Point72 Asset Management L.P. now owns 156,745 shares of the company’s stock valued at $4,097,000 after buying an additional 108,864 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WGS. Wells Fargo & Company began coverage on GeneDx in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 price objective on the stock. The Goldman Sachs Group lifted their target price on GeneDx from $32.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. BTIG Research lifted their target price on GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum lifted their price objective on GeneDx from $43.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, TD Cowen lifted their price objective on GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.67.

Insider Transactions at GeneDx

In related news, major shareholder Opko Health, Inc. sold 12,994 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $29.35, for a total value of $381,373.90. Following the completion of the transaction, the insider now owns 2,971,570 shares in the company, valued at $87,215,579.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $33.54, for a total transaction of $72,245.16. Following the completion of the sale, the chief executive officer now owns 92,550 shares in the company, valued at approximately $3,104,127. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Opko Health, Inc. sold 12,994 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $29.35, for a total transaction of $381,373.90. Following the sale, the insider now owns 2,971,570 shares of the company’s stock, valued at $87,215,579.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 468,668 shares of company stock valued at $15,575,988 in the last three months. 28.10% of the stock is owned by corporate insiders.

GeneDx Stock Down 0.7 %

Shares of WGS opened at $57.79 on Wednesday. The company has a market capitalization of $1.51 billion, a P/E ratio of -11.16 and a beta of 2.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.38 and a quick ratio of 2.22. GeneDx Holdings Corp. has a one year low of $1.16 and a one year high of $61.96. The business’s 50 day simple moving average is $41.34 and its 200-day simple moving average is $29.89.

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

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.