Legal Advantage Investments Inc. reduced its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS – Free Report) by 1.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 34,100 shares of the company’s stock after selling 400 shares during the quarter. GeneDx accounts for approximately 1.4% of Legal Advantage Investments Inc.’s investment portfolio, making the stock its 25th biggest holding. Legal Advantage Investments Inc.’s holdings in GeneDx were worth $2,621,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in WGS. CWM LLC purchased a new position in shares of GeneDx during the third quarter worth $89,000. SG Americas Securities LLC purchased a new position in shares of GeneDx during the third quarter worth $198,000. Point72 DIFC Ltd purchased a new position in shares of GeneDx during the third quarter worth $220,000. Palumbo Wealth Management LLC purchased a new position in GeneDx in the third quarter valued at $287,000. Finally, The Manufacturers Life Insurance Company purchased a new position in GeneDx in the second quarter valued at $290,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have weighed in on WGS. The Goldman Sachs Group lifted their price objective on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Craig Hallum lifted their price objective on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on shares of GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, TD Cowen boosted 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.67.
Insider Activity at GeneDx
In other news, CFO Kevin Feeley sold 35,506 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $93.82, for a total transaction of $3,331,172.92. Following the sale, the chief financial officer now owns 2,472 shares of the company’s stock, valued at approximately $231,923.04. This trade represents a 93.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 2,154 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total value of $143,456.40. Following the sale, the chief executive officer now directly owns 105,426 shares in the company, valued at $7,021,371.60. This trade represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,229,965 shares of company stock worth $93,006,163 in the last three months. 27.30% of the stock is owned by company insiders.
GeneDx Price Performance
Shares of WGS opened at $69.48 on Tuesday. GeneDx Holdings Corp. has a 52-week low of $2.85 and a 52-week high of $98.87. The stock has a fifty day simple moving average of $77.70 and a two-hundred day simple moving average of $55.48. 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 – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The business had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $64.98 million. During the same period in the prior year, the business posted ($0.82) EPS. The company’s revenue was up 44.3% compared to the same quarter last year. Analysts predict that GeneDx Holdings Corp. will post -0.24 EPS for the current year.
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.
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