Emerald Advisers LLC Makes New $7.06 Million Investment in GeneDx Holdings Corp. (NASDAQ:WGS)

Emerald Advisers LLC acquired a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 91,818 shares of the company’s stock, valued at approximately $7,057,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in WGS. Vanguard Group Inc. lifted its position in GeneDx by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company’s stock valued at $77,337,000 after acquiring an additional 156,768 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of GeneDx in the fourth quarter valued at approximately $51,496,000. Fred Alger Management LLC purchased a new position in shares of GeneDx during the third quarter valued at approximately $16,731,000. Geode Capital Management LLC boosted its position in shares of GeneDx by 8.7% during the third quarter. Geode Capital Management LLC now owns 377,631 shares of the company’s stock valued at $16,030,000 after buying an additional 30,379 shares during the last quarter. Finally, State Street Corp grew its holdings in GeneDx by 18.3% during the third quarter. State Street Corp now owns 314,914 shares of the company’s stock worth $13,365,000 after buying an additional 48,735 shares in the last quarter. 61.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. TD Cowen lifted their price objective on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. The Goldman Sachs Group boosted their price target on shares of GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.33.

Insider Activity at GeneDx

In other news, CEO Katherine Stueland sold 18,006 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $78.18, for a total value of $1,407,709.08. Following the sale, the chief executive officer now owns 53,140 shares of the company’s stock, valued at $4,154,485.20. The trade was a 25.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin Feeley sold 1,430 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.04, for a total transaction of $108,737.20. Following the sale, the chief financial officer now owns 26,770 shares in the company, valued at $2,035,590.80. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,735 shares of company stock worth $11,719,787. Insiders own 27.30% of the company’s stock.

GeneDx Trading Up 7.9 %

Shares of GeneDx stock opened at $104.39 on Friday. The firm has a market cap of $2.93 billion, a PE ratio of -53.26 and a beta of 1.91. GeneDx Holdings Corp. has a 1 year low of $8.10 and a 1 year 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 stock has a fifty day moving average price of $84.89 and a 200-day moving average price of $71.94.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. The business had revenue of $95.64 million during the quarter, compared to the consensus estimate of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. Equities research analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS 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.