Tidal Investments LLC Purchases New Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Tidal Investments LLC acquired a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,103 shares of the company’s stock, valued at approximately $514,000.

A number of other institutional investors have also recently bought and sold shares of WGS. Acadian Asset Management LLC acquired a new stake in GeneDx in the second quarter worth $34,000. nVerses Capital LLC acquired a new stake in GeneDx during the 2nd quarter worth $50,000. CWM LLC bought a new position in GeneDx during the third quarter worth about $89,000. Verition Fund Management LLC grew its stake in GeneDx by 12.9% in the third quarter. Verition Fund Management LLC now owns 25,845 shares of the company’s stock valued at $1,097,000 after acquiring an additional 2,945 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of GeneDx by 36.1% in the second quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock worth $451,000 after acquiring an additional 4,573 shares in the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

Insiders Place Their Bets

In other GeneDx news, CEO Katherine Stueland sold 10,501 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $76.75, for a total transaction of $805,951.75. Following the transaction, the chief executive officer now owns 71,146 shares of the company’s stock, valued at $5,460,455.50. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Feeley sold 1,137 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $76.37, for a total value of $86,832.69. Following the sale, the chief financial officer now directly owns 24,731 shares of the company’s stock, valued at $1,888,706.47. This represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,123,603 shares of company stock valued at $83,300,382 in the last 90 days. 27.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

GeneDx Stock Up 2.8 %

Shares of WGS stock opened at $77.40 on Monday. The firm’s fifty day moving average price is $72.46 and its two-hundred day moving average price is $47.51. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. GeneDx Holdings Corp. has a 1 year low of $2.47 and a 1 year high of $89.11. The firm has a market capitalization of $2.13 billion, a P/E ratio of -24.89 and a beta of 2.03.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.25. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The company had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $64.98 million. During the same quarter last year, the company earned ($0.82) EPS. GeneDx’s revenue for the quarter was up 44.3% compared to the same quarter last year. On average, equities analysts predict that GeneDx Holdings Corp. will post -0.24 EPS 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.