National Bank of Canada FI Invests $3.46 Million in GeneDx Holdings Corp. (NASDAQ:WGS)

National Bank of Canada FI purchased a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 45,000 shares of the company’s stock, valued at approximately $3,459,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in GeneDx by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company’s stock worth $77,337,000 after purchasing an additional 156,768 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of GeneDx during the fourth quarter worth about $51,496,000. Geode Capital Management LLC grew its holdings 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 worth $16,030,000 after buying an additional 30,379 shares in the last quarter. State Street Corp raised its position in GeneDx by 18.3% in the 3rd quarter. State Street Corp now owns 314,914 shares of the company’s stock valued at $13,365,000 after buying an additional 48,735 shares during the last quarter. Finally, Zweig DiMenna Associates LLC bought a new stake in GeneDx in the 4th quarter valued at approximately $23,788,000. 61.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other GeneDx news, CFO Kevin Feeley sold 402 shares of GeneDx stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $90.05, for a total transaction of $36,200.10. Following the completion of the transaction, the chief financial officer now directly owns 5,044 shares of the company’s stock, valued at $454,212.20. The trade was a 7.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through 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 transaction of $130,041.36. Following the completion of the transaction, the chief executive officer now directly owns 3,937 shares in the company, valued at $308,975.76. The trade was a 29.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,670 shares of company stock valued at $7,301,418 over the last 90 days. 27.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WGS. TD Cowen lifted their price objective on shares of GeneDx from $75.00 to $118.00 and gave the company 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 research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $72.33.

GeneDx Price Performance

NASDAQ:WGS opened at $84.77 on Tuesday. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $88.31 and a 200 day simple moving average of $76.40. GeneDx Holdings Corp. has a 1-year low of $8.63 and a 1-year high of $115.60. The stock has a market capitalization of $2.38 billion, a PE ratio of -43.25 and a beta of 1.93.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.66. The company 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%. On average, research analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal 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.