LPL Financial LLC Has $3.82 Million Position in GeneDx Holdings Corp. (NASDAQ:WGS)

LPL Financial LLC boosted its position in GeneDx Holdings Corp. (NASDAQ:WGS) by 21.0% in the first quarter, Holdings Channel.com reports. The firm owned 43,105 shares of the company’s stock after purchasing an additional 7,484 shares during the quarter. LPL Financial LLC’s holdings in GeneDx were worth $3,818,000 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. Summit Partners Public Asset Management LLC grew its stake in GeneDx by 336.9% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock worth $58,073,000 after purchasing an additional 582,619 shares during the period. Lord Abbett & CO. LLC acquired a new stake in GeneDx during the fourth quarter worth approximately $48,458,000. Fred Alger Management LLC grew its stake in GeneDx by 38.5% during the fourth quarter. Fred Alger Management LLC now owns 546,054 shares of the company’s stock worth $41,970,000 after purchasing an additional 151,824 shares during the period. Zweig DiMenna Associates LLC grew its stake in GeneDx by 47.7% during the first quarter. Zweig DiMenna Associates LLC now owns 457,100 shares of the company’s stock worth $40,483,000 after purchasing an additional 147,600 shares during the period. Finally, Science & Technology Partners L.P. acquired a new stake in GeneDx during the fourth quarter worth approximately $30,821,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on WGS shares. Wells Fargo & Company raised their target price on GeneDx from $78.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Guggenheim reaffirmed a “buy” rating and set a $115.00 target price (up previously from $88.00) on shares of GeneDx in a research note on Monday, June 30th. TD Securities decreased their target price on GeneDx from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Wall Street Zen raised GeneDx from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Piper Sandler set a $120.00 price target on GeneDx and gave the stock an “overweight” rating in a report on Monday, August 4th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.63.

GeneDx Stock Up 2.8%

WGS stock opened at $126.36 on Friday. GeneDx Holdings Corp. has a twelve month low of $28.86 and a twelve month high of $127.36. The company has a quick ratio of 2.70, a current ratio of 2.87 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average is $88.39 and its 200-day moving average is $85.66. The firm has a market capitalization of $3.63 billion, a PE ratio of 2,527.20 and a beta of 2.02.

GeneDx (NASDAQ:WGS) last posted its earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.40. GeneDx had a return on equity of 16.51% and a net margin of 0.39%. The company had revenue of $102.69 million for the quarter, compared to analyst estimates of $86.00 million. Sell-side analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other GeneDx news, CFO Kevin Feeley sold 388 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $105.31, for a total value of $40,860.28. Following the sale, the chief financial officer directly owned 3,757 shares in the company, valued at $395,649.67. The trade was a 9.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Katherine Stueland sold 2,154 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $105.31, for a total value of $226,837.74. Following the completion of the sale, the chief executive officer owned 3,440 shares in the company, valued at approximately $362,266.40. The trade was a 38.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,411 shares of company stock worth $2,085,051 over the last quarter. 29.60% of the stock is currently owned by corporate 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.