Fmr LLC Acquires 40,219 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Fmr LLC grew its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 295.6% in the third quarter, HoldingsChannel.com reports. The fund owned 53,825 shares of the company’s stock after purchasing an additional 40,219 shares during the period. Fmr LLC’s holdings in GeneDx were worth $2,284,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Algert Global LLC lifted its position in GeneDx by 386.2% in the 3rd quarter. Algert Global LLC now owns 66,128 shares of the company’s stock worth $2,806,000 after buying an additional 52,526 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in GeneDx by 304.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company’s stock worth $6,240,000 after buying an additional 110,666 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in GeneDx in the 3rd quarter worth approximately $2,547,000. Royce & Associates LP bought a new stake in GeneDx in the 3rd quarter worth approximately $1,201,000. Finally, GSA Capital Partners LLP purchased a new position in GeneDx in the 3rd quarter worth approximately $322,000. Institutional investors own 61.72% of the company’s stock.

GeneDx Trading Up 5.1 %

GeneDx stock opened at $75.43 on Friday. 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 business’s fifty day simple moving average is $70.21 and its two-hundred day simple moving average is $45.53. GeneDx Holdings Corp. has a 12 month low of $1.76 and a 12 month high of $89.11. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -24.25 and a beta of 2.03.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.25. The firm had revenue of $76.90 million for the quarter, compared to the consensus estimate of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The company’s quarterly revenue was up 44.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.82) earnings per share. As a group, equities analysts predict that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on WGS shares. Wells Fargo & Company lifted their price target on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Craig Hallum lifted their price target on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their price target on GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.33.

Insider Activity

In related news, CEO Katherine Stueland sold 2,154 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total transaction of $143,456.40. Following the completion of the sale, the chief executive officer now owns 105,426 shares in the company, valued at approximately $7,021,371.60. This represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $69.78, for a total value of $1,420,651.02. Following the sale, the insider now owns 2,846,474 shares of the company’s stock, valued at approximately $198,626,955.72. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,109,374 shares of company stock valued at $82,208,306 over the last ninety days. 27.30% of the stock is currently owned by corporate insiders.

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.