Geode Capital Management LLC Buys 91,989 Shares of GeneDx Holdings Corp. $WGS

Geode Capital Management LLC boosted its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 23.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 484,714 shares of the company’s stock after buying an additional 91,989 shares during the period. Geode Capital Management LLC owned approximately 1.70% of GeneDx worth $44,750,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in WGS. PNC Financial Services Group Inc. grew its stake in shares of GeneDx by 143.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,612 shares of the company’s stock worth $333,000 after acquiring an additional 2,127 shares during the last quarter. Simplify Asset Management Inc. bought a new position in GeneDx in the 2nd quarter worth about $5,234,000. ProShare Advisors LLC grew its position in GeneDx by 39.1% during the 2nd quarter. ProShare Advisors LLC now owns 3,850 shares of the company’s stock valued at $355,000 after purchasing an additional 1,083 shares during the last quarter. Lisanti Capital Growth LLC increased its stake in GeneDx by 92.3% during the 2nd quarter. Lisanti Capital Growth LLC now owns 56,615 shares of the company’s stock valued at $5,226,000 after purchasing an additional 27,180 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in GeneDx in the second quarter worth about $204,000. 61.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WGS has been the subject of several analyst reports. Canaccord Genuity Group set a $160.00 price target on shares of GeneDx and gave the company a “buy” rating in a research report on Wednesday, October 29th. Piper Sandler lifted their target price on GeneDx from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a report on Wednesday, October 8th. Guggenheim reaffirmed a “buy” rating and set a $170.00 price objective (up from $115.00) on shares of GeneDx in a research report on Wednesday, October 29th. Finally, Wall Street Zen downgraded GeneDx from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, GeneDx currently has an average rating of “Moderate Buy” and a consensus price target of $129.22.

Insider Transactions at GeneDx

In related news, CEO Katherine Stueland sold 2,158 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $136.54, for a total value of $294,653.32. Following the transaction, the chief executive officer owned 3,436 shares of the company’s stock, valued at approximately $469,151.44. This trade represents a 38.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevin Feeley sold 388 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $136.54, for a total transaction of $52,977.52. Following the sale, the chief financial officer directly owned 3,757 shares of the company’s stock, valued at approximately $512,980.78. This represents a 9.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 17,153 shares of company stock valued at $2,123,584. Corporate insiders own 29.60% of the company’s stock.

GeneDx Price Performance

Shares of WGS opened at $167.51 on Wednesday. The firm has a fifty day simple moving average of $128.56 and a two-hundred day simple moving average of $105.58. The firm has a market cap of $4.84 billion, a PE ratio of 1,861.22 and a beta of 2.01. The company has a current ratio of 2.71, a quick ratio of 2.59 and a debt-to-equity ratio of 0.18. GeneDx Holdings Corp. has a 1-year low of $55.17 and a 1-year high of $167.72.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.28 by $0.21. The company had revenue of $116.74 million during the quarter, compared to analyst estimates of $104.33 million. GeneDx had a return on equity of 20.22% and a net margin of 0.52%. GeneDx has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

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.