Charles Schwab Investment Management Inc. Has $11.64 Million Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Charles Schwab Investment Management Inc. increased its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,403 shares of the company’s stock after acquiring an additional 4,369 shares during the period. Charles Schwab Investment Management Inc. owned about 0.55% of GeneDx worth $11,637,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Fred Alger Management LLC acquired a new stake in shares of GeneDx during the 3rd quarter valued at $16,731,000. Geode Capital Management LLC raised its position in GeneDx by 8.7% in the third quarter. Geode Capital Management LLC now owns 377,631 shares of the company’s stock valued at $16,030,000 after purchasing an additional 30,379 shares during the last quarter. State Street Corp boosted its stake in shares of GeneDx by 18.3% during the third quarter. State Street Corp now owns 314,914 shares of the company’s stock valued at $13,365,000 after purchasing an additional 48,735 shares in the last quarter. Zweig DiMenna Associates LLC bought a new stake in shares of GeneDx during the fourth quarter worth about $23,788,000. Finally, Point72 Asset Management L.P. increased its stake in shares of GeneDx by 87.4% in the third quarter. Point72 Asset Management L.P. now owns 293,671 shares of the company’s stock valued at $12,463,000 after buying an additional 136,926 shares during the period. 61.72% of the stock is owned by institutional investors.

GeneDx Stock Up 7.9 %

WGS opened at $104.39 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. GeneDx Holdings Corp. has a one year low of $8.10 and a one year high of $115.60. The firm has a market capitalization of $2.93 billion, a P/E ratio of -53.26 and a beta of 1.91. The company has a fifty day moving average price of $84.89 and a 200-day moving average price of $71.65.

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

Insider Activity

In related news, CEO Katherine Stueland sold 51,420 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the completion of the transaction, the chief executive officer now owns 1,720 shares in the company, valued at $162,505.60. This represents a 96.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Feeley sold 35,506 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $93.82, for a total transaction of $3,331,172.92. Following the completion of the transaction, the chief financial officer now owns 2,472 shares of the company’s stock, valued at $231,923.04. This trade represents a 93.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,735 shares of company stock valued at $11,719,787. 27.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WGS shares. The Goldman Sachs Group boosted their target price on shares of GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. TD Cowen boosted their price objective on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.33.

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.