Victory Capital Management Inc. Makes New Investment in GeneDx Holdings Corp. (NASDAQ:WGS)

Victory Capital Management Inc. bought a new position in GeneDx Holdings Corp. (NASDAQ:WGS) in the fourth quarter, Holdings Channel reports. The firm bought 2,720 shares of the company’s stock, valued at approximately $209,000.

A number of other large investors have also bought and sold shares of WGS. MCF Advisors LLC increased its position in GeneDx by 107.7% in the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after buying an additional 182 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of GeneDx in the fourth quarter valued at $28,000. Evolution Wealth Advisors LLC purchased a new position in shares of GeneDx in the fourth quarter valued at $202,000. Point72 DIFC Ltd purchased a new position in shares of GeneDx in the third quarter valued at $220,000. Finally, Ieq Capital LLC purchased a new position in shares of GeneDx in the fourth quarter valued at $220,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

GeneDx Price Performance

NASDAQ:WGS opened at $104.39 on Monday. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -53.26 and a beta of 1.91. GeneDx Holdings Corp. has a 52-week low of $8.10 and a 52-week high of $115.60. The stock has a fifty day moving average of $84.89 and a 200 day moving average of $72.24. 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 posted 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 company had revenue of $95.64 million during the quarter, compared to analyst estimates of $82.24 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. On average, research analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Activity at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 51,420 shares of GeneDx stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the completion of the sale, the chief executive officer now owns 1,720 shares of the company’s stock, valued at $162,505.60. The trade was a 96.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin Feeley sold 1,430 shares of GeneDx stock in a transaction dated 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 directly owns 26,770 shares of the company’s stock, valued at approximately $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 quarter, insiders sold 127,735 shares of company stock valued at $11,719,787. Company insiders own 27.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WGS. The Goldman Sachs Group lifted their price target on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. TD Cowen lifted their price target on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $72.33.

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.