UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Position in GeneDx Holdings Corp. (NASDAQ:WGS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in GeneDx Holdings Corp. (NASDAQ:WGS) by 120.3% in the fourth quarter, HoldingsChannel reports. The firm owned 16,849 shares of the company’s stock after acquiring an additional 9,202 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in GeneDx were worth $1,295,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WGS. Allspring Global Investments Holdings LLC boosted its holdings in GeneDx by 50,832.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 90,151 shares of the company’s stock valued at $7,179,000 after purchasing an additional 89,974 shares during the period. Legato Capital Management LLC raised its stake in GeneDx by 88.0% in the fourth quarter. Legato Capital Management LLC now owns 27,691 shares of the company’s stock valued at $2,128,000 after buying an additional 12,961 shares in the last quarter. Rhumbline Advisers raised its stake in GeneDx by 5.5% in the fourth quarter. Rhumbline Advisers now owns 19,750 shares of the company’s stock valued at $1,518,000 after buying an additional 1,021 shares in the last quarter. Palumbo Wealth Management LLC raised its stake 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 buying an additional 1,542 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake 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 buying an additional 1,511 shares in the last quarter. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. The Goldman Sachs Group raised their price target on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Jefferies Financial Group upgraded GeneDx from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Friday, May 9th. Wells Fargo & Company cut their price target on GeneDx from $105.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. TD Securities cut their price target on GeneDx from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Guggenheim assumed coverage on GeneDx in a research note on Thursday, May 15th. They issued a “buy” rating and a $88.00 price target on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, GeneDx presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.75.

Insider Transactions at GeneDx

In related news, CFO Kevin Feeley sold 370 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $71.26, for a total value of $26,366.20. Following the transaction, the chief financial officer now owns 4,105 shares in the company, valued at $292,522.30. The trade was a 8.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Keith A. Meister purchased 100,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was bought at an average price of $56.01 per share, for a total transaction of $5,601,000.00. Following the transaction, the director now directly owns 3,008,629 shares in the company, valued at $168,513,310.29. This trade represents a 3.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 136,107 shares of company stock worth $12,723,615. Corporate insiders own 29.60% of the company’s stock.

GeneDx Stock Up 0.5%

WGS opened at $72.42 on Tuesday. The business’s 50-day simple moving average is $79.63 and its 200-day simple moving average is $82.23. 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 one year low of $24.50 and a one year high of $117.75. The stock has a market capitalization of $2.07 billion, a P/E ratio of -36.95 and a beta of 1.94.

GeneDx (NASDAQ:WGS) last posted its earnings results on Wednesday, April 30th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.17. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The business had revenue of $87.12 million for the quarter, compared to analysts’ expectations of $79.90 million. Analysts anticipate that GeneDx Holdings Corp. will post 0.97 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.