Dimensional Fund Advisors LP Takes Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Dimensional Fund Advisors LP acquired a new stake in GeneDx Holdings Corp. (NASDAQ:WGS) in the fourth quarter, HoldingsChannel reports. The firm acquired 14,054 shares of the company’s stock, valued at approximately $1,080,000.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of GeneDx by 346.3% during the 3rd quarter. Barclays PLC now owns 18,921 shares of the company’s stock valued at $803,000 after acquiring an additional 14,681 shares during the period. JPMorgan Chase & Co. grew its position in GeneDx by 617.3% during the third quarter. JPMorgan Chase & Co. now owns 52,161 shares of the company’s stock valued at $2,214,000 after buying an additional 44,889 shares during the period. MCF Advisors LLC grew its position in GeneDx by 107.7% during the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after buying an additional 182 shares during the period. Nisa Investment Advisors LLC lifted its holdings in GeneDx by 147,085.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 50,043 shares of the company’s stock valued at $3,846,000 after purchasing an additional 50,009 shares during the last quarter. Finally, Evolution Wealth Advisors LLC purchased a new stake in GeneDx during the fourth quarter valued at about $202,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WGS has been the topic of a number of recent analyst reports. TD Securities lowered their price target on shares of GeneDx from $135.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company cut their target price on shares of GeneDx from $105.00 to $78.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Jefferies Financial Group upgraded shares of GeneDx from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Friday, May 9th. Guggenheim began coverage on shares of GeneDx in a report on Thursday. They issued a “buy” rating and a $88.00 price target on the stock. Finally, The Goldman Sachs Group raised their price objective on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.75.

GeneDx Stock Performance

Shares of GeneDx stock opened at $63.61 on Friday. GeneDx Holdings Corp. has a 52 week low of $19.16 and a 52 week high of $117.75. 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 stock’s fifty day moving average is $87.48 and its two-hundred day moving average is $82.72. The company has a market capitalization of $1.81 billion, a PE ratio of -32.45 and a beta of 1.96.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.17. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The company had revenue of $87.12 million for the quarter, compared to the consensus estimate of $79.90 million. As a group, analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Transactions at GeneDx

In other news, Director Keith A. Meister acquired 100,000 shares of GeneDx stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average cost of $56.01 per share, with a total value of $5,601,000.00. Following the purchase, the director now owns 3,008,629 shares in the company, valued at $168,513,310.29. This trade represents a 3.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Katherine Stueland sold 2,731 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $94.73, for a total value of $258,707.63. Following the completion of the sale, the chief executive officer now owns 7,752 shares of the company’s stock, valued at approximately $734,346.96. The trade was a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 139,390 shares of company stock worth $13,043,288 over the last three months. 29.60% of the stock is currently owned by insiders.

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.