13,602 Shares in GeneDx Holdings Corp. (NASDAQ:WGS) Purchased by Algert Global LLC

Algert Global LLC purchased a new stake in GeneDx Holdings Corp. (NASDAQ:WGS) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,602 shares of the company’s stock, valued at approximately $356,000. Algert Global LLC owned approximately 0.05% of GeneDx as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WGS. Acadian Asset Management LLC bought a new position in shares of GeneDx in the second quarter valued at $34,000. nVerses Capital LLC bought a new stake in shares of GeneDx in the 2nd quarter valued at about $50,000. Thompson Davis & CO. Inc. lifted its stake in GeneDx by 20.8% in the 1st quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock valued at $220,000 after purchasing an additional 4,150 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in GeneDx during the second quarter worth about $290,000. Finally, Alpha DNA Investment Management LLC acquired a new position in GeneDx during the second quarter worth approximately $363,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on WGS shares. BTIG Research raised their price objective on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group increased their price objective on shares of GeneDx from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Craig Hallum lifted their target price on shares of GeneDx from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. TD Cowen increased their price target on shares of GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company started coverage on GeneDx in a report on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 price objective for the company. Three 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 stock presently has an average rating of “Moderate Buy” and an average target price of $38.00.

Insider Activity at GeneDx

In related news, CFO Kevin Feeley sold 895 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.33, for a total transaction of $29,830.35. Following the sale, the chief financial officer now owns 39,910 shares in the company, valued at approximately $1,330,200.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Kevin Feeley sold 895 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.33, for a total transaction of $29,830.35. Following the completion of the sale, the chief financial officer now directly owns 39,910 shares in the company, valued at $1,330,200.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Opko Health, Inc. sold 50,000 shares of GeneDx stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $34.49, for a total value of $1,724,500.00. Following the completion of the transaction, the insider now owns 2,646,972 shares in the company, valued at approximately $91,294,064.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 643,668 shares of company stock valued at $21,365,988 over the last quarter. 28.10% of the stock is owned by corporate insiders.

GeneDx Stock Performance

Shares of NASDAQ:WGS opened at $54.33 on Wednesday. GeneDx Holdings Corp. has a 12-month low of $1.16 and a 12-month high of $57.53. The company’s 50 day moving average price is $35.97 and its two-hundred day moving average price is $26.45. The firm has a market cap of $1.42 billion, a PE ratio of -10.49 and a beta of 2.32. The company has a quick ratio of 2.22, a current ratio of 2.38 and a debt-to-equity ratio of 0.27.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.15. The firm had revenue of $70.51 million during the quarter, compared to analysts’ expectations of $58.90 million. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. Equities research analysts predict that GeneDx Holdings Corp. will post -0.75 earnings per share 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.