Royce & Associates LP Makes New Investment in GeneDx Holdings Corp. (NASDAQ:WGS)

Royce & Associates LP purchased a new stake in GeneDx Holdings Corp. (NASDAQ:WGS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 28,293 shares of the company’s stock, valued at approximately $1,201,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in GeneDx by 4.2% in the first quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock valued at $6,460,000 after purchasing an additional 28,678 shares in the last quarter. Oracle Investment Management Inc. lifted its holdings in shares of GeneDx by 531.7% during the 1st quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock worth $10,286,000 after acquiring an additional 948,253 shares during the period. Legal Advantage Investments Inc. acquired a new stake in shares of GeneDx during the 2nd quarter worth approximately $518,000. Assenagon Asset Management S.A. bought a new position in GeneDx in the second quarter valued at approximately $9,575,000. Finally, Calamos Advisors LLC acquired a new position in GeneDx during the second quarter valued at approximately $1,137,000. 61.72% of the stock is currently owned by institutional investors.

Insider Activity

In other GeneDx news, CFO Kevin Feeley sold 895 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $1,330,200.30. This represents a 2.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Katherine Stueland sold 3,639 shares of GeneDx stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.33, for a total value of $121,287.87. Following the completion of the transaction, the chief executive officer now directly owns 95,457 shares of the company’s stock, valued at approximately $3,181,581.81. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,065,580 shares of company stock valued at $78,848,138. Company insiders own 27.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WGS. TD Cowen upped their price objective on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BTIG Research raised their price target on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Craig Hallum upped their price objective on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group increased 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. Finally, Wells Fargo & Company boosted their target price on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.33.

GeneDx Stock Down 0.1 %

NASDAQ:WGS opened at $71.04 on Wednesday. GeneDx Holdings Corp. has a one year low of $1.29 and a one year high of $89.11. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The company has a market cap of $1.95 billion, a PE ratio of -22.84 and a beta of 2.11. The firm’s 50 day simple moving average is $57.43 and its 200 day simple moving average is $38.69.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.25. The company had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. GeneDx’s revenue for the quarter was up 44.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.82) earnings per share. On average, research analysts anticipate that GeneDx Holdings Corp. will post -0.24 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.