SG Americas Securities LLC Grows Stake in GeneDx Holdings Corp. (NASDAQ:WGS)

SG Americas Securities LLC lifted its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 87.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,735 shares of the company’s stock after purchasing an additional 4,068 shares during the period. SG Americas Securities LLC’s holdings in GeneDx were worth $671,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Fred Alger Management LLC purchased a new position in shares of GeneDx in the third quarter worth about $16,731,000. Millennium Management LLC boosted its holdings in GeneDx by 193.5% in the 2nd quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock worth $8,140,000 after buying an additional 205,318 shares during the period. Raymond James & Associates purchased a new position in GeneDx in the 3rd quarter valued at approximately $8,090,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in GeneDx during the 3rd quarter valued at $7,533,000. Finally, Summit Partners Public Asset Management LLC purchased a new stake in shares of GeneDx during the third quarter worth $7,340,000. Institutional investors own 61.72% of the company’s stock.

Insider Buying and Selling

In other news, CEO Katherine Stueland sold 23,108 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $70.48, for a total transaction of $1,628,651.84. Following the completion of the sale, the chief executive officer now owns 82,318 shares of the company’s stock, valued at approximately $5,801,772.64. This represents a 21.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $69.78, for a total transaction of $1,420,651.02. Following the sale, the insider now directly owns 2,846,474 shares of the company’s stock, valued at $198,626,955.72. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 361,737 shares of company stock worth $27,909,458. Corporate insiders own 27.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. TD Cowen lifted their price target on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Craig Hallum lifted their target price on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price target on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their price objective on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $70.67.

GeneDx Stock Performance

Shares of WGS opened at $77.86 on Friday. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average price of $78.37 and a 200-day moving average price of $57.69. The company has a market cap of $2.14 billion, a PE ratio of -25.04 and a beta of 2.02. GeneDx Holdings Corp. has a 12-month low of $3.62 and a 12-month high of $98.87.

GeneDx (NASDAQ:WGS) last released its quarterly 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 net margin of 31.25% and a negative return on equity of 13.35%. The business had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $64.98 million. During the same quarter in the previous year, the company earned ($0.82) EPS. The business’s quarterly revenue was up 44.3% compared to the same quarter last year. As a group, equities analysts forecast that GeneDx Holdings Corp. will post -0.24 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.