GeneDx Holdings Corp. (NASDAQ:WGS) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,751 shares of the company’s stock after buying an additional 1,511 shares during the period. Principal Financial Group Inc. owned approximately 0.06% of GeneDx worth $1,211,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. MCF Advisors LLC lifted its stake in shares of GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after acquiring an additional 182 shares during the period. Evolution Wealth Advisors LLC acquired a new stake in GeneDx in the fourth quarter valued at about $202,000. Point72 DIFC Ltd purchased a new stake in GeneDx in the 3rd quarter valued at approximately $220,000. PFG Investments LLC acquired a new position in GeneDx during the 4th quarter worth approximately $252,000. Finally, Franklin Resources Inc. purchased a new position in shares of GeneDx during the 3rd quarter worth approximately $301,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on WGS. The Goldman Sachs Group increased their price objective on GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. TD Cowen raised their price objective on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.33.

Insider Transactions at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 35,506 shares of GeneDx stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $93.82, for a total value of $3,331,172.92. Following the completion of the sale, the chief financial officer now directly owns 2,472 shares of the company’s stock, valued at approximately $231,923.04. The trade was a 93.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 1,657 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $78.48, for a total value of $130,041.36. Following the completion of the transaction, the chief executive officer now owns 3,937 shares of the company’s stock, valued at $308,975.76. This trade represents a 29.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,321 shares of company stock valued at $11,315,903 over the last three months. 27.30% of the stock is currently owned by insiders.

GeneDx Trading Up 6.4 %

Shares of WGS stock opened at $105.31 on Thursday. GeneDx Holdings Corp. has a fifty-two week low of $7.72 and a fifty-two week high of $115.60. 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 business has a fifty day simple moving average of $82.49 and a 200-day simple moving average of $66.82. The stock has a market cap of $2.96 billion, a P/E ratio of -53.73 and a beta of 2.01.

GeneDx (NASDAQ:WGS) last announced its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. The company had revenue of $95.64 million during the quarter, compared to analysts’ expectations of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. On average, analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal 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.