GeneDx Holdings Corp. $WGS Shares Purchased by Rhumbline Advisers

Rhumbline Advisers raised its holdings in GeneDx Holdings Corp. (NASDAQ:WGS) by 42.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,610 shares of the company’s stock after acquiring an additional 8,258 shares during the period. Rhumbline Advisers owned approximately 0.10% of GeneDx worth $2,549,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of WGS. US Bancorp DE boosted its holdings in shares of GeneDx by 3,223.5% during the 1st quarter. US Bancorp DE now owns 565 shares of the company’s stock worth $50,000 after purchasing an additional 548 shares during the last quarter. AlphaQuest LLC lifted its position in GeneDx by 351.5% during the second quarter. AlphaQuest LLC now owns 763 shares of the company’s stock worth $70,000 after buying an additional 594 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in GeneDx during the first quarter worth $132,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in GeneDx by 184.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,224 shares of the company’s stock valued at $197,000 after buying an additional 1,443 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in GeneDx in the 2nd quarter valued at $204,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Kevin Feeley sold 3,728 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $121.47, for a total transaction of $452,840.16. Following the completion of the transaction, the chief financial officer directly owned 8,755 shares in the company, valued at $1,063,469.85. This trade represents a 29.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Katherine Stueland sold 10,501 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $121.47, for a total value of $1,275,556.47. Following the completion of the sale, the chief executive officer owned 14,578 shares in the company, valued at $1,770,789.66. This represents a 41.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 54,775 shares of company stock valued at $8,170,087. Company insiders own 29.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Zacks Research lowered GeneDx from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Wall Street Zen cut shares of GeneDx from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Guggenheim reiterated a “buy” rating and issued a $170.00 target price (up from $115.00) on shares of GeneDx in a report on Wednesday, October 29th. Canaccord Genuity Group set a $160.00 price target on shares of GeneDx and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Piper Sandler raised their price target on shares of GeneDx from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $129.22.

GeneDx Stock Down 1.8%

Shares of WGS opened at $158.96 on Monday. The company’s 50-day moving average price is $134.95 and its 200 day moving average price is $111.08. GeneDx Holdings Corp. has a 12-month low of $55.17 and a 12-month high of $170.87. The company has a current ratio of 2.71, a quick ratio of 2.59 and a debt-to-equity ratio of 0.18. The firm has a market cap of $4.60 billion, a P/E ratio of 1,766.22 and a beta of 1.98.

GeneDx (NASDAQ:WGS) last announced its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.21. The company had revenue of $116.74 million during the quarter, compared to analyst estimates of $104.33 million. GeneDx had a net margin of 0.52% and a return on equity of 20.22%. On average, sell-side analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

GeneDx 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.