Northern Trust Corp Purchases 29,608 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Northern Trust Corp lifted its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 19.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 179,651 shares of the company’s stock after acquiring an additional 29,608 shares during the quarter. Northern Trust Corp’s holdings in GeneDx were worth $13,808,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. William Blair Investment Management LLC acquired a new position in GeneDx in the fourth quarter valued at about $51,496,000. Lord Abbett & CO. LLC acquired a new position in GeneDx in the fourth quarter valued at about $48,458,000. Science & Technology Partners L.P. acquired a new position in GeneDx in the fourth quarter valued at about $30,821,000. Zweig DiMenna Associates LLC acquired a new position in GeneDx in the fourth quarter valued at about $23,788,000. Finally, Raymond James Financial Inc. acquired a new position in GeneDx in the fourth quarter valued at about $20,371,000. Institutional investors own 61.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on WGS. Wells Fargo & Company decreased their price target on shares of GeneDx from $105.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group upped their price objective on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Guggenheim started coverage on GeneDx in a research note on Thursday. They issued a “buy” rating and a $88.00 price objective on the stock. Jefferies Financial Group upgraded GeneDx from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Friday, May 9th. Finally, TD Securities dropped their price objective on GeneDx from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $86.75.

GeneDx Trading Up 7.0%

Shares of WGS 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 business’s fifty day moving average is $87.48 and its 200-day moving average is $82.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The firm has a market cap of $1.81 billion, a price-to-earnings 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, topping analysts’ consensus estimates of $0.11 by $0.17. The business had revenue of $87.12 million for the quarter, compared to analyst estimates of $79.90 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. Equities analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Activity

In related news, CEO Katherine Stueland sold 2,731 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $94.73, for a total transaction of $258,707.63. Following the sale, the chief executive officer now owns 7,752 shares in the company, valued at $734,346.96. This represents a 26.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Feeley sold 388 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $113.09, for a total value of $43,878.92. Following the sale, the chief financial officer now owns 3,337 shares in the company, valued at approximately $377,381.33. The trade was a 10.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 139,390 shares of company stock valued at $13,043,288. Company insiders own 29.60% of the company’s stock.

About GeneDx

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.