Swiss National Bank Buys 3,400 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Swiss National Bank lifted its stake in GeneDx Holdings Corp. (NASDAQ:WGS) by 16.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,800 shares of the company’s stock after acquiring an additional 3,400 shares during the quarter. Swiss National Bank owned 0.09% of GeneDx worth $1,829,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Fred Alger Management LLC bought a new stake in shares of GeneDx during the 3rd quarter valued at about $16,731,000. Zweig DiMenna Associates LLC purchased a new position in shares of GeneDx in the fourth quarter worth approximately $23,788,000. Raymond James Financial Inc. bought a new stake in GeneDx during the fourth quarter valued at approximately $20,371,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in GeneDx during the third quarter valued at approximately $7,533,000. Finally, Summit Partners Public Asset Management LLC purchased a new stake in GeneDx during the third quarter valued at approximately $7,340,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at GeneDx

In other news, CEO Katherine Stueland sold 46,551 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $95.62, for a total value of $4,451,206.62. Following the completion of the sale, the chief executive officer now directly owns 48,314 shares of the company’s stock, valued at $4,619,784.68. This trade represents a 49.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin Feeley sold 402 shares of GeneDx stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $90.05, for a total value of $36,200.10. Following the completion of the transaction, the chief financial officer now owns 5,044 shares of the company’s stock, valued at approximately $454,212.20. This trade represents a 7.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 183,032 shares of company stock valued at $17,007,198 in the last three months. 27.30% of the stock is currently owned by corporate insiders.

GeneDx Stock Down 2.3 %

WGS opened at $92.20 on Friday. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of -47.04 and a beta of 1.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The firm’s fifty day moving average is $87.28 and its 200 day moving average is $73.92. GeneDx Holdings Corp. has a fifty-two week low of $8.53 and a fifty-two week high of $115.60.

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

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.