William Blair Investment Management LLC Takes Position in GeneDx Holdings Corp. (NASDAQ:WGS)

William Blair Investment Management LLC purchased a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) during the fourth quarter, Holdings Channel reports. The fund purchased 669,995 shares of the company’s stock, valued at approximately $51,496,000.

Other hedge funds have also recently made changes to their positions in the company. Fred Alger Management LLC acquired a new position in shares of GeneDx in the third quarter worth approximately $16,731,000. Geode Capital Management LLC lifted its stake in shares of GeneDx by 8.7% in the third quarter. Geode Capital Management LLC now owns 377,631 shares of the company’s stock worth $16,030,000 after acquiring an additional 30,379 shares during the period. State Street Corp lifted its stake in shares of GeneDx by 18.3% in the third quarter. State Street Corp now owns 314,914 shares of the company’s stock worth $13,365,000 after acquiring an additional 48,735 shares during the period. Zweig DiMenna Associates LLC acquired a new position in shares of GeneDx in the fourth quarter worth approximately $23,788,000. Finally, Point72 Asset Management L.P. lifted its stake in shares of GeneDx by 87.4% in the third quarter. Point72 Asset Management L.P. now owns 293,671 shares of the company’s stock worth $12,463,000 after acquiring an additional 136,926 shares during the period. 61.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on WGS shares. TD Cowen lifted their price objective on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group lifted their price objective on GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, GeneDx currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.33.

GeneDx Trading Down 4.1 %

Shares of WGS stock opened at $94.46 on Tuesday. The company has a market cap of $2.65 billion, a P/E ratio of -48.19 and a beta of 1.91. The stock has a 50 day simple moving average of $84.69 and a two-hundred day simple moving average of $70.37. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. GeneDx Holdings Corp. has a fifty-two week low of $7.72 and a fifty-two week high of $115.60.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. The business had revenue of $95.64 million during the quarter, compared to the consensus estimate of $82.24 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. Research analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Activity

In other news, CFO Kevin Feeley sold 1,430 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.04, for a total transaction of $108,737.20. Following the completion of the sale, the chief financial officer now owns 26,770 shares in the company, valued at $2,035,590.80. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Katherine Stueland sold 51,420 shares of GeneDx stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total value of $4,858,161.60. Following the transaction, the chief executive officer now directly owns 1,720 shares in the company, valued at approximately $162,505.60. The trade was a 96.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,735 shares of company stock worth $11,719,787 over the last quarter. 27.30% of the stock is currently owned by corporate insiders.

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.