Barclays PLC Raises Stock Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

Barclays PLC raised its holdings in GeneDx Holdings Corp. (NASDAQ:WGS) by 346.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,921 shares of the company’s stock after purchasing an additional 14,681 shares during the quarter. Barclays PLC’s holdings in GeneDx were worth $803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in shares of GeneDx in the 2nd quarter worth approximately $34,000. nVerses Capital LLC purchased a new stake in GeneDx in the second quarter worth $50,000. CWM LLC bought a new stake in shares of GeneDx in the third quarter valued at $89,000. Verition Fund Management LLC lifted its position in shares of GeneDx by 12.9% during the 3rd quarter. Verition Fund Management LLC now owns 25,845 shares of the company’s stock valued at $1,097,000 after buying an additional 2,945 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of GeneDx by 36.1% during the 2nd quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock worth $451,000 after acquiring an additional 4,573 shares during the period. Institutional investors own 61.72% of the company’s stock.

Insider Activity

In other GeneDx news, CEO Katherine Stueland sold 10,501 shares of GeneDx stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $76.75, for a total transaction of $805,951.75. Following the completion of the sale, the chief executive officer now directly owns 71,146 shares in the company, valued at $5,460,455.50. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin Feeley sold 3,728 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $76.75, for a total transaction of $286,124.00. Following the completion of the transaction, the chief financial officer now directly owns 28,200 shares of the company’s stock, valued at approximately $2,164,350. This represents a 11.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,123,603 shares of company stock worth $83,300,382 in the last three months. Corporate insiders own 27.30% of the company’s stock.

GeneDx Stock Up 0.4 %

Shares of NASDAQ WGS opened at $76.86 on Wednesday. The business has a 50-day simple moving average of $74.67 and a two-hundred day simple moving average of $49.80. GeneDx Holdings Corp. has a 52 week low of $2.47 and a 52 week high of $89.11. The company has a market cap of $2.11 billion, a P/E ratio of -24.71 and a beta of 2.03. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, beating the consensus estimate 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 company 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) earnings per share. GeneDx’s revenue for the quarter was up 44.3% on a year-over-year basis. Research analysts anticipate that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WGS has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lifted their target price on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Craig Hallum upped their price target on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.33.

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.