Ensign Peak Advisors Inc Raises Stock Position in GeneDx Holdings Corp. $WGS

Ensign Peak Advisors Inc grew its stake in GeneDx Holdings Corp. (NASDAQ:WGS) by 3,716.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,242 shares of the company’s stock after purchasing an additional 55,742 shares during the quarter. Ensign Peak Advisors Inc owned about 0.20% of GeneDx worth $5,284,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Raymond James Financial Inc. raised its stake in GeneDx by 25.8% in the first quarter. Raymond James Financial Inc. now owns 333,376 shares of the company’s stock worth $29,525,000 after buying an additional 68,331 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of GeneDx by 150.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 39,979 shares of the company’s stock worth $3,690,000 after acquiring an additional 24,042 shares during the period. MRA Advisory Group bought a new position in shares of GeneDx in the 2nd quarter worth approximately $298,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of GeneDx in the 1st quarter valued at approximately $488,000. Finally, Fred Alger Management LLC boosted its position in shares of GeneDx by 2.0% during the first quarter. Fred Alger Management LLC now owns 557,018 shares of the company’s stock valued at $49,332,000 after purchasing an additional 10,964 shares in the last quarter. Institutional investors own 61.72% of the company’s stock.

Analyst Upgrades and Downgrades

WGS has been the subject of several recent research reports. Wells Fargo & Company raised their price objective on GeneDx from $95.00 to $140.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. BTIG Research lifted their price target on shares of GeneDx from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Piper Sandler boosted their price objective on shares of GeneDx from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of GeneDx from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $129.22.

Insider Transactions at GeneDx

In other news, Director Jason Ryan sold 38,072 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $127.30, for a total transaction of $4,846,565.60. Following the transaction, the director directly owned 103,284 shares of the company’s stock, valued at $13,148,053.20. This represents a 26.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin Feeley sold 3,728 shares of GeneDx stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $121.47, for a total value of $452,840.16. Following the completion of the sale, the chief financial officer owned 8,755 shares of the company’s stock, valued at $1,063,469.85. The trade was a 29.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 56,375 shares of company stock worth $7,119,247 over the last quarter. 29.60% of the stock is currently owned by insiders.

GeneDx Trading Up 9.9%

NASDAQ:WGS opened at $161.08 on Tuesday. The company’s 50 day moving average price is $127.64 and its 200-day moving average price is $104.82. GeneDx Holdings Corp. has a 52 week low of $55.17 and a 52 week high of $162.18. The company has a quick ratio of 2.59, a current ratio of 2.71 and a debt-to-equity ratio of 0.18. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 1,789.78 and a beta of 2.00.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.21. GeneDx had a net margin of 0.52% and a return on equity of 20.22%. The company had revenue of $116.74 million during the quarter, compared to analyst estimates of $104.33 million. GeneDx has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

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.