GeneDx Holdings Corp. $WGS Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 42.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,610 shares of the company’s stock after buying an additional 8,258 shares during the quarter. Rhumbline Advisers’ holdings in GeneDx were worth $2,549,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. William Blair Investment Management LLC grew its stake in shares of GeneDx by 37.2% in the second quarter. William Blair Investment Management LLC now owns 1,631,402 shares of the company’s stock worth $150,595,000 after acquiring an additional 442,414 shares in the last quarter. Vanguard Group Inc. boosted its holdings in GeneDx by 2.5% in the first quarter. Vanguard Group Inc. now owns 1,031,326 shares of the company’s stock valued at $91,339,000 after purchasing an additional 25,116 shares during the period. Westfield Capital Management Co. LP grew its stake in GeneDx by 164.8% during the 2nd quarter. Westfield Capital Management Co. LP now owns 589,188 shares of the company’s stock worth $54,388,000 after purchasing an additional 366,711 shares in the last quarter. Zweig DiMenna Associates LLC grew its stake in GeneDx by 28.2% during the 2nd quarter. Zweig DiMenna Associates LLC now owns 586,100 shares of the company’s stock worth $54,103,000 after purchasing an additional 129,000 shares in the last quarter. Finally, Fred Alger Management LLC increased its holdings in GeneDx by 2.0% during the 1st quarter. Fred Alger Management LLC now owns 557,018 shares of the company’s stock worth $49,332,000 after purchasing an additional 10,964 shares during the period. Hedge funds and other institutional investors own 61.72% of the company’s stock.

GeneDx Stock Performance

Shares of GeneDx stock opened at $158.96 on Monday. The company has a quick ratio of 2.59, a current ratio of 2.71 and a debt-to-equity ratio of 0.18. GeneDx Holdings Corp. has a 52 week low of $55.17 and a 52 week high of $170.87. The firm’s 50 day moving average is $134.95 and its two-hundred day moving average is $111.08. The firm has a market capitalization of $4.60 billion, a P/E ratio of 1,766.22 and a beta of 1.98.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.21. The business had revenue of $116.74 million during the quarter, compared to analysts’ expectations of $104.33 million. GeneDx had a net margin of 0.52% and a return on equity of 20.22%. Research analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insider Activity at GeneDx

In other GeneDx news, Director Joshua Ruch sold 38,000 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $160.37, for a total value of $6,094,060.00. Following the completion of the transaction, the director owned 11,941 shares in the company, valued at $1,914,978.17. This represents a 76.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kevin Feeley sold 388 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $136.54, for a total value of $52,977.52. Following the transaction, the chief financial officer directly owned 3,757 shares in the company, valued at approximately $512,980.78. The trade was a 9.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 54,775 shares of company stock valued at $8,170,087 over the last ninety days. Insiders own 29.60% of the company’s stock.

Analysts Set New Price Targets

WGS has been the subject of several recent research reports. BTIG Research lifted their price objective on GeneDx from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Canaccord Genuity Group set a $160.00 price target on shares of GeneDx and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Piper Sandler boosted their price target on shares of GeneDx from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Zacks Research lowered shares of GeneDx from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of GeneDx from $95.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.22.

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.