Royce & Associates LP Buys 3,274 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Royce & Associates LP lifted its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 11.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,567 shares of the company’s stock after purchasing an additional 3,274 shares during the quarter. Royce & Associates LP’s holdings in GeneDx were worth $2,426,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in WGS. Fred Alger Management LLC acquired a new position in GeneDx in the 3rd quarter worth about $16,731,000. Geode Capital Management LLC increased 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 valued at $16,030,000 after buying an additional 30,379 shares during the period. State Street Corp raised its holdings in GeneDx by 18.3% in the 3rd quarter. State Street Corp now owns 314,914 shares of the company’s stock valued at $13,365,000 after buying an additional 48,735 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new stake in GeneDx during the 4th quarter worth approximately $23,788,000. Finally, Point72 Asset Management L.P. grew its holdings in GeneDx by 87.4% during the 3rd 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 last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.

GeneDx Stock Down 0.7 %

GeneDx stock opened at $96.71 on Friday. The firm has a 50 day moving average price of $84.59 and a two-hundred day moving average price of $71.15. 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 52-week low of $8.10 and a 52-week high of $115.60. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -49.34 and a beta of 1.91.

GeneDx (NASDAQ:WGS) last announced 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 negative net margin of 17.12% and a positive return on equity of 3.33%. Equities analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Analyst Ratings Changes

WGS has been the subject of several analyst reports. The Goldman Sachs Group raised their price target 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. TD Cowen raised their target price on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.33.

Insider Transactions at GeneDx

In related news, CEO Katherine Stueland sold 1,078 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $89.44, for a total transaction of $96,416.32. Following the transaction, the chief executive officer now directly owns 6,674 shares of the company’s stock, valued at $596,922.56. This represents a 13.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Feeley sold 1,430 shares of GeneDx stock in a transaction on Thursday, January 2nd. The shares were 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,735 shares of company stock valued at $11,719,787. Corporate insiders own 27.30% 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.