Barclays PLC Raises Stock Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Barclays PLC grew its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 346.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,921 shares of the company’s stock after purchasing an additional 14,681 shares during the period. Barclays PLC owned about 0.07% of GeneDx worth $803,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in GeneDx in the second quarter valued at approximately $991,000. Rhumbline Advisers increased its stake in GeneDx by 8,096.4% in the second quarter. Rhumbline Advisers now owns 18,360 shares of the company’s stock valued at $480,000 after purchasing an additional 18,136 shares during the last quarter. Acadian Asset Management LLC purchased a new position in GeneDx in the second quarter valued at approximately $34,000. American Century Companies Inc. increased its stake in GeneDx by 36.1% in the second quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock valued at $451,000 after purchasing an additional 4,573 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in GeneDx in the second quarter valued at approximately $2,362,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WGS shares. Craig Hallum increased their price objective on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. TD Cowen increased their price objective on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group increased their price objective on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Three equities research 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.67.

GeneDx Trading Up 0.6 %

GeneDx stock opened at $72.41 on Thursday. The stock has a 50-day moving average price of $78.15 and a 200 day moving average price of $54.30. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. GeneDx Holdings Corp. has a 52 week low of $2.85 and a 52 week high of $98.87. The stock has a market cap of $1.99 billion, a PE ratio of -23.28 and a beta of 2.02.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.25. The firm 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%. The firm’s quarterly revenue was up 44.3% on a year-over-year basis. During the same period last year, the company earned ($0.82) EPS. Equities research analysts predict that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 transaction of $143,456.40. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kevin Feeley sold 35,506 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $93.82, for a total value of $3,331,172.92. Following the sale, the chief financial officer now directly owns 2,472 shares of the company’s stock, valued at approximately $231,923.04. This represents a 93.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,229,965 shares of company stock valued at $93,006,163. Corporate insiders own 27.30% of the company’s stock.

GeneDx 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.