Geode Capital Management LLC Boosts Stock Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

Geode Capital Management LLC increased its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 8.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 377,631 shares of the company’s stock after buying an additional 30,379 shares during the period. Geode Capital Management LLC owned about 1.37% of GeneDx worth $16,030,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Driehaus Capital Management LLC purchased a new stake in GeneDx in the 2nd quarter worth approximately $11,335,000. Fred Alger Management LLC bought a new position in shares of GeneDx in the third quarter worth approximately $16,731,000. Divisadero Street Capital Management LP purchased a new position in shares of GeneDx in the second quarter worth $5,886,000. Millennium Management LLC raised its holdings in GeneDx by 193.5% during the 2nd quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock valued at $8,140,000 after buying an additional 205,318 shares during the last quarter. Finally, Raymond James & Associates bought a new position in shares of GeneDx during the third quarter valued at about $8,090,000. 61.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other GeneDx news, CFO Kevin Feeley sold 3,728 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $76.75, for a total transaction of $286,124.00. Following the sale, the chief financial officer now directly owns 28,200 shares of the company’s stock, valued at $2,164,350. The trade was a 11.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Katherine Stueland sold 10,501 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $76.75, for a total value of $805,951.75. Following the completion of the sale, the chief executive officer now directly owns 71,146 shares of the company’s stock, valued at $5,460,455.50. The trade was a 12.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,123,603 shares of company stock valued at $83,300,382. Corporate insiders own 27.30% of the company’s stock.

GeneDx Stock Down 1.8 %

GeneDx stock opened at $78.05 on Monday. GeneDx Holdings Corp. has a one year low of $2.47 and a one year high of $89.11. The stock has a market cap of $2.14 billion, a PE ratio of -25.10 and a beta of 2.03. 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 stock has a fifty day moving average of $74.30 and a 200 day moving average of $49.31.

GeneDx (NASDAQ:WGS) last announced its earnings results on Tuesday, October 29th. The company reported $0.04 EPS 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 company had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $64.98 million. During the same period last year, the firm earned ($0.82) EPS. GeneDx’s revenue for the quarter was up 44.3% compared to the same quarter last year. As a group, sell-side analysts predict that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Craig Hallum lifted their price target on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their price objective on GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.33.

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.