Legacy Capital Group California Inc. Invests $883,000 in GeneDx Holdings Corp. (NASDAQ:WGS)

Legacy Capital Group California Inc. bought a new stake in GeneDx Holdings Corp. (NASDAQ:WGS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,492 shares of the company’s stock, valued at approximately $883,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Ieq Capital LLC bought a new stake in GeneDx in the fourth quarter valued at approximately $220,000. Global Retirement Partners LLC bought a new stake in GeneDx in the fourth quarter valued at approximately $28,000. New York State Common Retirement Fund boosted its holdings in GeneDx by 347.0% in the fourth quarter. New York State Common Retirement Fund now owns 68,072 shares of the company’s stock valued at $5,232,000 after acquiring an additional 52,843 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in GeneDx by 10.6% in the fourth quarter. Principal Financial Group Inc. now owns 15,751 shares of the company’s stock valued at $1,211,000 after acquiring an additional 1,511 shares during the last quarter. Finally, Palumbo Wealth Management LLC boosted its holdings in GeneDx by 22.8% in the fourth quarter. Palumbo Wealth Management LLC now owns 8,303 shares of the company’s stock valued at $638,000 after acquiring an additional 1,542 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on WGS. Craig Hallum upped their target price on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price target on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group increased their price target on GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, TD Cowen increased their price target on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, GeneDx presently has an average rating of “Moderate Buy” and an average price target of $72.33.

Insider Transactions at GeneDx

In other news, CFO Kevin Feeley sold 1,430 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.04, for a total transaction of $108,737.20. Following the transaction, the chief financial officer now directly owns 26,770 shares of the company’s stock, valued at $2,035,590.80. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Katherine Stueland sold 51,420 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total value of $4,858,161.60. Following the completion of the sale, the chief executive officer now directly owns 1,720 shares of the company’s stock, valued at $162,505.60. The trade was a 96.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,584 shares of company stock valued at $11,336,520 over the last ninety days. 27.30% of the stock is owned by company insiders.

GeneDx Price Performance

GeneDx stock opened at $101.58 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. GeneDx Holdings Corp. has a 52-week low of $4.61 and a 52-week high of $115.60. The stock’s 50 day moving average price is $78.64 and its two-hundred day moving average price is $62.41. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of -51.83 and a beta of 2.01.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The company had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. On average, equities analysts predict that GeneDx Holdings Corp. will post 0.52 earnings per share for the current year.

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.