Thoroughbred Financial Services LLC Has $700,000 Stake in GeneDx Holdings Corp. (NASDAQ:WGS)

Thoroughbred Financial Services LLC increased its stake in GeneDx Holdings Corp. (NASDAQ:WGS) by 50.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,915 shares of the company’s stock after purchasing an additional 2,665 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in GeneDx were worth $700,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. acquired a new stake in shares of GeneDx in the fourth quarter worth $2,645,000. Envestnet Asset Management Inc. bought a new position in GeneDx in the 4th quarter worth $380,000. Voya Investment Management LLC acquired a new position in GeneDx during the 4th quarter worth $292,000. GAMMA Investing LLC lifted its position in GeneDx by 22,194.3% during the 1st quarter. GAMMA Investing LLC now owns 38,792 shares of the company’s stock worth $3,436,000 after acquiring an additional 38,618 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in GeneDx by 111.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 190,297 shares of the company’s stock valued at $16,097,000 after acquiring an additional 100,146 shares during the period. Institutional investors and hedge funds own 61.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WGS. Guggenheim reiterated a “buy” rating and issued a $115.00 price objective (up from $88.00) on shares of GeneDx in a research note on Monday, June 30th. TD Securities dropped their price target on GeneDx from $135.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Jefferies Financial Group raised GeneDx from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Friday, May 9th. Wall Street Zen raised shares of GeneDx from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Finally, Piper Sandler set a $120.00 price target on shares of GeneDx and gave the company an “overweight” rating in a report on Monday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $101.63.

Insider Activity

In related news, CFO Kevin Feeley sold 5,278 shares of the firm’s stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $93.00, for a total transaction of $490,854.00. Following the completion of the transaction, the chief financial officer owned 3,392 shares in the company, valued at $315,456. This trade represents a 60.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Katherine Stueland sold 9,657 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $90.94, for a total value of $878,207.58. Following the completion of the sale, the chief executive officer directly owned 4,940 shares in the company, valued at approximately $449,243.60. This represents a 66.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,411 shares of company stock valued at $2,085,051 in the last three months. Company insiders own 29.60% of the company’s stock.

GeneDx Stock Performance

Shares of NASDAQ WGS opened at $105.85 on Thursday. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 2,117.00 and a beta of 2.02. GeneDx Holdings Corp. has a one year low of $28.45 and a one year high of $117.75. The business has a fifty day simple moving average of $82.21 and a 200 day simple moving average of $83.73. The company has a current ratio of 2.87, a quick ratio of 2.70 and a debt-to-equity ratio of 0.19.

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

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.