Two Sigma Advisers LP Buys Shares of 43,242 GeneDx Holdings Corp. (NASDAQ:WGS)

Two Sigma Advisers LP purchased a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) in the 4th quarter, Holdings Channel reports. The fund purchased 43,242 shares of the company’s stock, valued at approximately $3,324,000.

Other institutional investors have also modified their holdings of the company. William Blair Investment Management LLC acquired a new position in GeneDx during the 4th quarter valued at about $51,496,000. Lord Abbett & CO. LLC acquired a new stake in shares of GeneDx in the fourth quarter valued at approximately $48,458,000. Summit Partners Public Asset Management LLC raised its holdings in shares of GeneDx by 336.9% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock valued at $58,073,000 after buying an additional 582,619 shares during the last quarter. Science & Technology Partners L.P. bought a new stake in shares of GeneDx during the fourth quarter valued at approximately $30,821,000. Finally, Raymond James Financial Inc. acquired a new position in shares of GeneDx during the fourth quarter worth approximately $20,371,000. Institutional investors own 61.72% of the company’s stock.

Insider Buying and Selling at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 2,731 shares of GeneDx stock in a transaction that occurred 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 transaction, the chief executive officer now owns 7,752 shares in the company, valued at approximately $734,346.96. The trade was a 26.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Keith A. Meister acquired 100,000 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were bought at an average price of $56.01 per share, with a total value of $5,601,000.00. Following the transaction, the director now directly owns 3,008,629 shares in the company, valued at approximately $168,513,310.29. The trade was a 3.44% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 139,390 shares of company stock valued at $13,043,288. 29.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on WGS shares. Guggenheim started coverage on GeneDx in a research report on Thursday, May 15th. They issued a “buy” rating and a $88.00 target price on the stock. The Goldman Sachs Group increased their price target on GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Wells Fargo & Company lowered their price target on 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 raised shares of GeneDx from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Friday, May 9th. Finally, TD Securities decreased their target price on shares of GeneDx from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $86.75.

GeneDx Stock Up 6.3%

Shares of WGS stock opened at $71.60 on Tuesday. GeneDx Holdings Corp. has a 1 year low of $19.54 and a 1 year high of $117.75. 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 business’s fifty day moving average is $84.28 and its 200-day moving average is $82.37. The stock has a market cap of $2.04 billion, a PE ratio of -36.53 and a beta of 1.96.

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

GeneDx Company 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.