Bank of New York Mellon Corp Has $3.15 Million Stock Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Bank of New York Mellon Corp increased its stake in GeneDx Holdings Corp. (NASDAQ:WGS) by 26.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,914 shares of the company’s stock after acquiring an additional 8,597 shares during the quarter. Bank of New York Mellon Corp’s holdings in GeneDx were worth $3,145,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MCF Advisors LLC lifted its stake in shares of GeneDx by 107.7% in the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after acquiring an additional 182 shares during the period. Global Retirement Partners LLC acquired a new position in GeneDx in the fourth quarter valued at approximately $28,000. Evolution Wealth Advisors LLC acquired a new position in GeneDx in the fourth quarter valued at approximately $202,000. Point72 DIFC Ltd acquired a new position in GeneDx in the third quarter valued at approximately $220,000. Finally, Ieq Capital LLC acquired a new position in GeneDx in the fourth quarter valued at approximately $220,000. 61.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. TD Cowen boosted their price target on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group boosted 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. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, GeneDx presently has an average rating of “Moderate Buy” and an average target price of $72.33.

GeneDx Price Performance

Shares of NASDAQ:WGS opened at $97.44 on Thursday. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. GeneDx Holdings Corp. has a twelve month low of $8.03 and a twelve month high of $115.60. The stock’s 50 day moving average is $84.59 and its 200-day moving average is $70.97. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -49.71 and a beta of 1.91.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The company had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. Sell-side analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Katherine Stueland sold 18,006 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $78.18, for a total transaction of $1,407,709.08. Following the completion of the sale, the chief executive officer now owns 53,140 shares in the company, valued at approximately $4,154,485.20. This represents a 25.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevin Feeley sold 1,430 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.04, for a total value of $108,737.20. Following the sale, the chief financial officer now owns 26,770 shares of the company’s stock, valued at $2,035,590.80. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,735 shares of company stock worth $11,719,787. 27.30% of the stock is owned by corporate insiders.

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.