Charles Schwab Investment Management Inc. Purchases 4,369 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Charles Schwab Investment Management Inc. increased its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,403 shares of the company’s stock after purchasing an additional 4,369 shares during the period. Charles Schwab Investment Management Inc.’s holdings in GeneDx were worth $11,637,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WGS. Mission Wealth Management LP purchased a new position in shares of GeneDx in the fourth quarter worth $384,000. Bailard Inc. bought a new stake in GeneDx in the 4th quarter valued at $277,000. Bank of New York Mellon Corp lifted its stake in GeneDx by 26.6% in the 4th quarter. Bank of New York Mellon Corp now owns 40,914 shares of the company’s stock worth $3,145,000 after purchasing an additional 8,597 shares in the last quarter. Thompson Davis & CO. Inc. boosted its holdings in shares of GeneDx by 44.7% during the 4th quarter. Thompson Davis & CO. Inc. now owns 21,130 shares of the company’s stock valued at $1,624,000 after purchasing an additional 6,530 shares during the last quarter. Finally, Legacy Capital Group California Inc. purchased a new position in shares of GeneDx during the fourth quarter valued at about $883,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Insider Transactions at GeneDx

In related news, CFO Kevin Feeley sold 3,749 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $96.71, for a total value of $362,565.79. Following the completion of the transaction, the chief financial officer now directly owns 8,492 shares in the company, valued at approximately $821,261.32. This represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Katherine Stueland sold 1,078 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $89.44, for a total transaction of $96,416.32. Following the transaction, the chief executive officer now directly owns 6,674 shares of the company’s stock, valued at approximately $596,922.56. This trade represents a 13.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,735 shares of company stock valued at $11,719,787 over the last 90 days. Corporate insiders own 27.30% of the company’s stock.

GeneDx Stock Performance

Shares of WGS opened at $104.39 on Friday. The stock has a 50-day moving average of $84.89 and a two-hundred day moving average of $71.65. The stock has a market cap of $2.93 billion, a P/E ratio of -53.26 and a beta of 1.91. GeneDx Holdings Corp. has a one year low of $8.10 and a one year high of $115.60. 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 (NASDAQ:WGS) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.66. The business had revenue of $95.64 million during the quarter, compared to analysts’ expectations of $82.24 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. As a group, research analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on WGS shares. The Goldman Sachs Group upped their price objective on GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. TD Cowen increased their price target on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.33.

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.