Swiss National Bank Purchases 3,400 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Swiss National Bank boosted its position in GeneDx Holdings Corp. (NASDAQ:WGS) by 16.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,800 shares of the company’s stock after purchasing an additional 3,400 shares during the period. Swiss National Bank’s holdings in GeneDx were worth $1,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of WGS. Connor Clark & Lunn Investment Management Ltd. increased its stake in GeneDx by 176.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,094 shares of the company’s stock worth $12,766,000 after buying an additional 106,089 shares during the period. Lisanti Capital Growth LLC increased its position in shares of GeneDx by 85.4% during the fourth quarter. Lisanti Capital Growth LLC now owns 67,900 shares of the company’s stock worth $5,219,000 after acquiring an additional 31,285 shares during the period. Raymond James Financial Inc. bought a new stake in shares of GeneDx during the fourth quarter valued at approximately $20,371,000. Arizona State Retirement System purchased a new stake in shares of GeneDx in the fourth quarter valued at approximately $269,000. Finally, Victory Capital Management Inc. bought a new position in GeneDx in the fourth quarter worth approximately $209,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Insider Buying and Selling at GeneDx

In related news, CFO Kevin Feeley sold 1,430 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.04, for a total transaction of $108,737.20. Following the transaction, the chief financial officer now directly owns 26,770 shares of the company’s stock, valued at $2,035,590.80. This represents a 5.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Katherine Stueland sold 18,006 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $78.18, for a total value of $1,407,709.08. Following the completion of the sale, the chief executive officer now directly owns 53,140 shares of the company’s stock, valued at approximately $4,154,485.20. This represents a 25.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 183,032 shares of company stock valued at $17,007,198. 27.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WGS has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their target price 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 objective on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, GeneDx presently has a consensus rating of “Moderate Buy” and an average price target of $72.33.

GeneDx Stock Performance

Shares of NASDAQ:WGS opened at $92.20 on Friday. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -47.04 and a beta of 1.91. The firm has a 50 day moving average of $87.28 and a 200 day moving average of $73.92. GeneDx Holdings Corp. has a 52 week low of $8.53 and a 52 week high of $115.60.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data 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 firm had revenue of $95.64 million during the quarter, compared to analysts’ expectations of $82.24 million. On average, sell-side analysts predict 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.