JPMorgan Chase & Co. Buys 44,889 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

JPMorgan Chase & Co. lifted its stake in GeneDx Holdings Corp. (NASDAQ:WGS) by 617.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,161 shares of the company’s stock after buying an additional 44,889 shares during the period. JPMorgan Chase & Co. owned approximately 0.19% of GeneDx worth $2,214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WGS. CWM LLC bought a new stake in GeneDx during the third quarter worth $89,000. SG Americas Securities LLC bought a new position in shares of GeneDx in the 3rd quarter valued at $198,000. Point72 DIFC Ltd bought a new position in shares of GeneDx in the 3rd quarter valued at $220,000. Palumbo Wealth Management LLC bought a new position in shares of GeneDx in the 3rd quarter valued at $287,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of GeneDx in the 2nd quarter valued at $290,000. 61.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jason Ryan sold 31,510 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $71.28, for a total value of $2,246,032.80. Following the completion of the sale, the director now directly owns 15,490 shares in the company, valued at $1,104,127.20. This trade represents a 67.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $75.00, for a total value of $64,935,000.00. Following the completion of the sale, the insider now owns 2,866,833 shares of the company’s stock, valued at approximately $215,012,475. This represents a 23.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,229,965 shares of company stock worth $93,006,163. Company insiders own 27.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WGS shares. The Goldman Sachs Group increased their price target on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. TD Cowen increased their price target on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. 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. Finally, 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.67.

GeneDx Stock Performance

NASDAQ WGS opened at $74.36 on Wednesday. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $77.64 and a 200 day simple moving average of $55.80. GeneDx Holdings Corp. has a twelve month low of $2.85 and a twelve month high of $98.87. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -23.91 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 for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The firm had revenue of $76.90 million during the quarter, compared to the consensus estimate of $64.98 million. During the same period last year, the business posted ($0.82) EPS. The business’s revenue was up 44.3% compared to the same quarter last year. Sell-side analysts expect that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

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.