Bailard Inc. Invests $277,000 in GeneDx Holdings Corp. (NASDAQ:WGS)

Bailard Inc. acquired a new stake in GeneDx Holdings Corp. (NASDAQ:WGS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,600 shares of the company’s stock, valued at approximately $277,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. acquired a new stake in shares of GeneDx in the third quarter valued at approximately $604,000. Chartwell Investment Partners LLC purchased a new stake in GeneDx during the 3rd quarter worth about $1,722,000. Lisanti Capital Growth LLC acquired a new position in GeneDx in the 3rd quarter valued at about $1,554,000. GSA Capital Partners LLP purchased a new position in GeneDx in the 3rd quarter valued at about $322,000. Finally, Royce & Associates LP acquired a new stake in shares of GeneDx during the 3rd quarter worth about $1,201,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on WGS. TD Cowen lifted their target price on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group lifted their price objective on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.33.

GeneDx Stock Performance

Shares of NASDAQ:WGS opened at $105.31 on Thursday. The firm has a market capitalization of $2.96 billion, a PE ratio of -53.73 and a beta of 2.01. GeneDx Holdings Corp. has a 12 month low of $7.72 and a 12 month high of $115.60. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The business has a 50-day moving average of $82.49 and a two-hundred day moving average of $66.82.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.66. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The firm had revenue of $95.64 million for the quarter, compared to analysts’ expectations of $82.24 million. As a group, research analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Activity

In other news, CFO Kevin Feeley sold 3,728 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 28,200 shares in the company, valued at $2,164,350. This trade represents a 11.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Katherine Stueland sold 1,657 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $78.48, for a total value of $130,041.36. Following the completion of the transaction, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at $308,975.76. This represents a 29.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 127,321 shares of company stock worth $11,315,903. 27.30% of the stock is currently owned by corporate insiders.

GeneDx 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.