Cwm LLC Takes Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Cwm LLC acquired a new stake in GeneDx Holdings Corp. (NASDAQ:WGS) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,091 shares of the company’s stock, valued at approximately $89,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of WGS. SG Americas Securities LLC acquired a new stake in shares of GeneDx during the 3rd quarter worth about $198,000. Point72 Asset Management L.P. lifted its stake in shares of GeneDx by 227.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 156,745 shares of the company’s stock worth $4,097,000 after buying an additional 108,864 shares during the last quarter. Algert Global LLC acquired a new stake in shares of GeneDx during the 2nd quarter worth about $356,000. Driehaus Capital Management LLC acquired a new stake in shares of GeneDx during the 2nd quarter worth about $11,335,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of GeneDx during the 2nd quarter worth about $290,000. Institutional investors own 61.72% of the company’s stock.

GeneDx Trading Down 0.5 %

Shares of GeneDx stock opened at $58.82 on Friday. The firm has a market capitalization of $1.54 billion, a PE ratio of -11.36 and a beta of 2.32. The company has a current ratio of 2.38, a quick ratio of 2.22 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $43.27 and its 200 day moving average is $31.08. GeneDx Holdings Corp. has a 1 year low of $1.16 and a 1 year high of $61.96.

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

Insiders Place Their Bets

In other news, CEO Katherine Stueland sold 3,639 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $121,287.87. Following the sale, the chief executive officer now directly owns 95,457 shares of the company’s stock, valued at approximately $3,181,581.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Katherine Stueland sold 3,639 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.33, for a total value of $121,287.87. Following the sale, the chief executive officer now directly owns 95,457 shares of the company’s stock, valued at approximately $3,181,581.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Opko Health, Inc. sold 88,839 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $33.50, for a total transaction of $2,976,106.50. Following the completion of the sale, the insider now directly owns 2,984,564 shares in the company, valued at approximately $99,982,894. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 408,668 shares of company stock valued at $13,544,988 in the last ninety days. 28.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

WGS has been the subject of several analyst reports. TD Cowen lifted their price objective on shares of GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Craig Hallum lifted their price objective on shares of GeneDx from $46.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group lifted their price objective on shares of GeneDx from $32.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Wells Fargo & Company initiated coverage on shares of GeneDx in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 price objective for the company. Finally, BTIG Research lifted their price objective on shares of GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $45.67.

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.