Barclays PLC Has $803,000 Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

Barclays PLC grew its position in GeneDx Holdings Corp. (NASDAQ:WGS) by 346.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,921 shares of the company’s stock after purchasing an additional 14,681 shares during the period. Barclays PLC’s holdings in GeneDx were worth $803,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in GeneDx during the 2nd quarter valued at approximately $34,000. CWM LLC bought a new stake in GeneDx during the 3rd quarter valued at approximately $89,000. SG Americas Securities LLC bought a new stake in GeneDx during the 3rd quarter valued at approximately $198,000. Point72 DIFC Ltd bought a new stake in GeneDx during the 3rd quarter valued at approximately $220,000. Finally, Palumbo Wealth Management LLC bought a new stake in GeneDx during the 3rd quarter valued at approximately $287,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Insider Activity

In related news, Director Jason Ryan sold 31,510 shares of GeneDx stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $71.28, for a total value of $2,246,032.80. Following the sale, the director now owns 15,490 shares of the company’s stock, valued at approximately $1,104,127.20. The trade was a 67.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Katherine Stueland sold 51,420 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $94.48, for a total value of $4,858,161.60. Following the transaction, the chief executive officer now directly owns 1,720 shares in the company, valued at approximately $162,505.60. This trade represents a 96.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,229,965 shares of company stock worth $93,006,163 over the last three months. Corporate insiders own 27.30% of the company’s stock.

GeneDx Stock Up 0.6 %

Shares of GeneDx stock opened at $72.41 on Thursday. 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 Holdings Corp. has a 12 month low of $2.85 and a 12 month high of $98.87. The business has a fifty day simple moving average of $78.15 and a 200 day simple moving average of $54.30. The stock has a market cap of $1.99 billion, a PE ratio of -23.28 and a beta of 2.02.

GeneDx (NASDAQ:WGS) last posted its earnings results 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 firm had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The company’s revenue for the quarter was up 44.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.82) earnings per share. Research analysts predict that GeneDx Holdings Corp. will post -0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Craig Hallum raised their price objective on 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 raised their price objective on GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their price objective on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, TD Cowen raised their price objective on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, GeneDx currently has a consensus rating of “Moderate Buy” and an average target price of $70.67.

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.