1,323 Shares in GeneDx Holdings Corp. (NASDAQ:WGS) Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC acquired a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,323 shares of the company’s stock, valued at approximately $34,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WGS. nVerses Capital LLC bought a new position in shares of GeneDx in the second quarter worth 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. Rhumbline Advisers boosted its position in GeneDx by 8,096.4% in the second quarter. Rhumbline Advisers now owns 18,360 shares of the company’s stock valued at $480,000 after buying an additional 18,136 shares in the last quarter. Legal Advantage Investments Inc. bought a new stake in shares of GeneDx during the second quarter worth $518,000. Finally, Vanguard Group Inc. increased its holdings in shares of GeneDx by 4.2% during the first quarter. Vanguard Group Inc. now owns 707,612 shares of the company’s stock worth $6,460,000 after buying an additional 28,678 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors.

GeneDx Price Performance

Shares of WGS opened at $40.40 on Friday. The business has a 50-day moving average of $33.64 and a 200-day moving average of $23.59. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.38 and a quick ratio of 2.22. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -7.80 and a beta of 2.29. GeneDx Holdings Corp. has a 1 year low of $1.16 and a 1 year high of $43.32.

GeneDx (NASDAQ:WGS) last released its earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.15. The business had revenue of $70.51 million during the quarter, compared to the consensus estimate of $58.90 million. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. As a group, equities research analysts anticipate that GeneDx Holdings Corp. will post -0.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Craig Hallum raised their price objective on GeneDx from $43.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. BTIG Research lifted their price target on GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Jefferies Financial Group assumed coverage on GeneDx in a research note on Monday, June 3rd. They issued a “hold” rating and a $21.00 price objective for the company. Wells Fargo & Company initiated coverage on shares of GeneDx in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 target price on the stock. Finally, The Goldman Sachs Group boosted their target price on shares of GeneDx from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, GeneDx presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Insider Buying and Selling

In other news, major shareholder Opko Health, Inc. sold 50,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $26.63, for a total value of $1,331,500.00. Following the transaction, the insider now directly owns 3,508,603 shares of the company’s stock, valued at approximately $93,434,097.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Opko Health, Inc. sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $26.63, for a total transaction of $1,331,500.00. Following the completion of the sale, the insider now owns 3,508,603 shares of the company’s stock, valued at approximately $93,434,097.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Feeley sold 895 shares of the business’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 transaction, the chief financial officer now owns 39,910 shares in the company, valued at approximately $1,330,200.30. The disclosure for this sale can be found here. Insiders sold 743,868 shares of company stock valued at $24,114,996 over the last quarter. Insiders own 28.10% of the company’s stock.

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.