Algert Global LLC Buys Shares of 13,602 GeneDx Holdings Corp. (NASDAQ:WGS)

Algert Global LLC purchased a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,602 shares of the company’s stock, valued at approximately $356,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in shares of GeneDx in the second quarter worth $34,000. nVerses Capital LLC acquired a new position in GeneDx during the 2nd quarter worth about $50,000. Thompson Davis & CO. Inc. lifted its holdings in GeneDx by 20.8% during the 1st quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock worth $220,000 after buying an additional 4,150 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of GeneDx in the 2nd quarter valued at about $290,000. Finally, Alpha DNA Investment Management LLC acquired a new stake in shares of GeneDx in the second quarter valued at about $363,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Opko Health, Inc. sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $32.93, for a total transaction of $823,250.00. Following the completion of the sale, the insider now owns 3,408,403 shares in the company, valued at $112,238,710.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Katherine Stueland sold 2,154 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $33.54, for a total value of $72,245.16. Following the transaction, the chief executive officer now owns 92,550 shares of the company’s stock, valued at approximately $3,104,127. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Opko Health, Inc. sold 25,000 shares of GeneDx stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $32.93, for a total value of $823,250.00. Following the transaction, the insider now owns 3,408,403 shares of the company’s stock, valued at $112,238,710.79. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 643,668 shares of company stock worth $21,365,988. Corporate insiders own 28.10% of the company’s stock.

GeneDx Stock Up 3.0 %

Shares of NASDAQ WGS opened at $54.33 on Wednesday. The company has a quick ratio of 2.22, a current ratio of 2.38 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.42 billion, a PE ratio of -10.49 and a beta of 2.32. The company’s fifty day simple moving average is $35.97 and its 200 day simple moving average is $26.45. GeneDx Holdings Corp. has a 12-month low of $1.16 and a 12-month high of $57.53.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.15. The firm had revenue of $70.51 million for the quarter, compared to analyst estimates 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, sell-side analysts forecast that GeneDx Holdings Corp. will post -0.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Craig Hallum upped their target price on GeneDx from $43.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. The Goldman Sachs Group increased their price objective on shares of GeneDx from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. BTIG Research boosted their target price on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. TD Cowen increased their price target on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company began coverage on GeneDx in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, GeneDx currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

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.