140,792 Shares in GeneDx Holdings Corp. (NASDAQ:WGS) Acquired by Wellington Management Group LLP

Wellington Management Group LLP acquired a new position in GeneDx Holdings Corp. (NASDAQ:WGS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 140,792 shares of the company’s stock, valued at approximately $10,821,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in WGS. William Blair Investment Management LLC purchased a new position in shares of GeneDx in the fourth quarter worth approximately $51,496,000. Lord Abbett & CO. LLC purchased a new position in GeneDx during the fourth quarter valued at approximately $48,458,000. Summit Partners Public Asset Management LLC lifted its holdings 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 valued at $58,073,000 after purchasing an additional 582,619 shares in the last quarter. Science & Technology Partners L.P. purchased a new position in GeneDx during the fourth quarter valued at approximately $30,821,000. Finally, Raymond James Financial Inc. purchased a new position in GeneDx during the fourth quarter valued at approximately $20,371,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

GeneDx Trading Up 4.1%

GeneDx stock opened at $74.13 on Tuesday. The stock has a market cap of $2.12 billion, a P/E ratio of -37.82 and a beta of 1.96. 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 Holdings Corp. has a 1 year low of $20.01 and a 1 year high of $117.75. The firm’s 50 day moving average price is $81.35 and its 200-day moving average price is $82.26.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. 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. Jefferies Financial Group raised 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 assumed coverage on shares of GeneDx in a report on Thursday, May 15th. They set a “buy” rating and a $88.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company reduced their price objective on shares of GeneDx from $105.00 to $78.00 and set an “equal weight” rating on the stock 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.75.

Insider Buying and Selling

In related news, CFO Kevin Feeley sold 402 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $90.05, for a total value of $36,200.10. Following the sale, the chief financial officer now owns 5,044 shares in the company, valued at approximately $454,212.20. The trade was a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Katherine Stueland sold 2,731 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $94.73, for a total transaction of $258,707.63. Following the completion of 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 139,390 shares of company stock worth $13,043,288. Insiders own 29.60% of the company’s stock.

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.