Emerald Advisers LLC Makes New $7.06 Million Investment in GeneDx Holdings Corp. (NASDAQ:WGS)

Emerald Advisers LLC bought a new stake in GeneDx Holdings Corp. (NASDAQ:WGS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 91,818 shares of the company’s stock, valued at approximately $7,057,000. Emerald Advisers LLC owned approximately 0.33% of GeneDx at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. MCF Advisors LLC raised its position in GeneDx by 107.7% during the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after purchasing an additional 182 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of GeneDx in the 4th quarter valued at $28,000. KLP Kapitalforvaltning AS bought a new stake in shares of GeneDx during the 4th quarter worth $200,000. Evolution Wealth Advisors LLC bought a new stake in shares of GeneDx during the 4th quarter worth $202,000. Finally, Victory Capital Management Inc. bought a new position in GeneDx in the fourth quarter valued at about $209,000. Institutional investors own 61.72% of the company’s stock.

Insider Buying and Selling at GeneDx

In other news, CFO Kevin Feeley sold 1,430 shares of GeneDx stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.04, for a total value of $108,737.20. Following the completion of the transaction, the chief financial officer now directly owns 26,770 shares of the company’s stock, valued at approximately $2,035,590.80. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Katherine Stueland sold 1,078 shares of GeneDx stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $89.44, for a total value of $96,416.32. Following the completion of the sale, the chief executive officer now owns 6,674 shares of the company’s stock, valued at approximately $596,922.56. The trade was a 13.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,735 shares of company stock worth $11,719,787. Insiders own 27.30% of the company’s stock.

GeneDx Stock Performance

GeneDx stock opened at $104.39 on Friday. The business has a 50 day moving average of $84.89 and a 200-day moving average of $71.94. 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 $8.10 and a 1 year high of $115.60. The company has a market capitalization of $2.93 billion, a P/E ratio of -53.26 and a beta of 1.91.

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

Wall Street Analyst Weigh In

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

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.