Franklin Resources Inc. Has $31.15 Million Stake in GeneDx Holdings Corp. $WGS

Franklin Resources Inc. boosted its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 51.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 337,427 shares of the company’s stock after buying an additional 114,544 shares during the quarter. Franklin Resources Inc. owned approximately 1.17% of GeneDx worth $31,148,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its position in shares of GeneDx by 84.6% during the first quarter. Envestnet Asset Management Inc. now owns 9,119 shares of the company’s stock worth $808,000 after acquiring an additional 4,178 shares during the last quarter. Victory Capital Management Inc. increased its position in GeneDx by 475.9% during the 1st quarter. Victory Capital Management Inc. now owns 15,665 shares of the company’s stock valued at $1,387,000 after purchasing an additional 12,945 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in GeneDx during the 1st quarter worth approximately $1,357,000. KLP Kapitalforvaltning AS lifted its position in shares of GeneDx by 65.4% in the 1st quarter. KLP Kapitalforvaltning AS now owns 4,300 shares of the company’s stock worth $381,000 after purchasing an additional 1,700 shares during the period. Finally, TD Asset Management Inc boosted its stake in shares of GeneDx by 116.3% in the 1st quarter. TD Asset Management Inc now owns 16,948 shares of the company’s stock valued at $1,501,000 after purchasing an additional 9,114 shares during the last quarter. Institutional investors own 61.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WGS. Zacks Research downgraded shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Piper Sandler lifted their price objective on GeneDx from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Wells Fargo & Company upped their target price on GeneDx from $95.00 to $140.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. BTIG Research raised their target price on GeneDx from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Canaccord Genuity Group set a $160.00 price target on GeneDx and gave the company a “buy” rating in a research note on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $129.22.

GeneDx Stock Performance

Shares of WGS opened at $165.61 on Thursday. GeneDx Holdings Corp. has a one year low of $55.17 and a one year high of $170.75. The company has a market cap of $4.79 billion, a PE ratio of 1,840.11 and a beta of 2.01. The stock has a 50-day moving average of $129.31 and a 200-day moving average of $106.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.71 and a quick ratio of 2.59.

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

Insider Buying and Selling

In related news, Director Joshua Ruch sold 38,000 shares of GeneDx 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 sale, the director owned 11,941 shares of the company’s stock, valued at approximately $1,914,978.17. This trade represents a 76.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Feeley sold 3,728 shares of the company’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $121.47, for a total transaction of $452,840.16. Following the transaction, the chief financial officer owned 8,755 shares in the company, valued at approximately $1,063,469.85. The trade was a 29.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,153 shares of company stock worth $8,217,644 in the last ninety days. Corporate insiders own 29.60% of the company’s stock.

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.