Pictet Asset Management Holding SA Invests $222,000 in GeneDx Holdings Corp. (NASDAQ:WGS)

Pictet Asset Management Holding SA purchased a new stake in GeneDx Holdings Corp. (NASDAQ:WGS) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,886 shares of the company’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in GeneDx by 346.3% during the 3rd quarter. Barclays PLC now owns 18,921 shares of the company’s stock worth $803,000 after buying an additional 14,681 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of GeneDx during the third quarter worth $325,000. Franklin Resources Inc. acquired a new position in shares of GeneDx during the third quarter valued at $301,000. Prudential Financial Inc. bought a new position in GeneDx in the fourth quarter valued at about $7,938,000. Finally, JPMorgan Chase & Co. increased its position in GeneDx by 617.3% in the third quarter. JPMorgan Chase & Co. now owns 52,161 shares of the company’s stock worth $2,214,000 after purchasing an additional 44,889 shares during the period. Institutional investors and hedge funds own 61.72% of the company’s stock.

Insider Buying and Selling

In other GeneDx news, CEO Katherine Stueland sold 46,594 shares of the company’s stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $89.62, for a total transaction of $4,175,754.28. Following the sale, the chief executive officer now directly owns 1,720 shares of the company’s stock, valued at approximately $154,146.40. This represents a 96.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevin Feeley sold 402 shares of GeneDx stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $90.05, for a total transaction of $36,200.10. Following the completion of the transaction, the chief financial officer now directly owns 5,044 shares of the company’s stock, valued at approximately $454,212.20. This trade represents a 7.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,780 shares of company stock worth $12,907,437 over the last ninety days. Company insiders own 27.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WGS shares. The Goldman Sachs Group raised their target price on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. TD Cowen increased their price objective 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.33.

GeneDx Stock Performance

Shares of WGS stock opened at $96.63 on Friday. The stock has a 50-day moving average of $90.43 and a 200-day moving average of $78.11. GeneDx Holdings Corp. has a one year low of $8.63 and a one year high of $115.60. The stock has a market cap of $2.71 billion, a PE ratio of -49.30 and a beta of 1.93. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.04 by $0.66. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The firm had revenue of $95.64 million during the quarter, compared to the consensus estimate of $82.24 million. As a group, sell-side analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current 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.