Westfield Capital Management Co. LP Raises Holdings in GeneDx Holdings Corp. $WGS

Westfield Capital Management Co. LP boosted its position in GeneDx Holdings Corp. (NASDAQ:WGS) by 164.8% during the 2nd quarter, Holdings Channel reports. The fund owned 589,188 shares of the company’s stock after acquiring an additional 366,711 shares during the quarter. Westfield Capital Management Co. LP’s holdings in GeneDx were worth $54,388,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. acquired a new stake in GeneDx during the first quarter worth approximately $44,614,000. William Blair Investment Management LLC raised its stake in GeneDx by 37.2% during the 2nd 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. Alliancebernstein L.P. boosted its stake in GeneDx by 3,054.5% in the first quarter. Alliancebernstein L.P. now owns 436,900 shares of the company’s stock valued at $38,694,000 after acquiring an additional 423,050 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of GeneDx by 6,163.1% during the second quarter. Jennison Associates LLC now owns 397,896 shares of the company’s stock worth $36,730,000 after purchasing an additional 391,543 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of GeneDx by 202.3% during the first quarter. Wellington Management Group LLP now owns 425,647 shares of the company’s stock worth $37,697,000 after purchasing an additional 284,855 shares in the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

GeneDx Stock Up 0.3%

GeneDx stock opened at $134.09 on Friday. The stock has a 50 day moving average of $126.40 and a two-hundred day moving average of $102.92. GeneDx Holdings Corp. has a twelve month low of $55.17 and a twelve month high of $147.71. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 1,489.89 and a beta of 2.01. The company has a current ratio of 2.71, a quick ratio of 2.59 and a debt-to-equity ratio of 0.18.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.49 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $104.33 million. GeneDx has set its FY 2025 guidance at EPS. As a group, research analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jason Ryan sold 38,072 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $127.30, for a total transaction of $4,846,565.60. Following the completion of the transaction, the director directly owned 103,284 shares of the company’s stock, valued at $13,148,053.20. This represents a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Katherine Stueland sold 10,501 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $121.47, for a total transaction of $1,275,556.47. Following the completion of the sale, the chief executive officer owned 14,578 shares of the company’s stock, valued at approximately $1,770,789.66. The trade was a 41.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 56,375 shares of company stock worth $7,119,247. 29.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on WGS shares. Wall Street Zen cut GeneDx from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Guggenheim reiterated a “buy” rating and issued a $170.00 price objective (up previously from $115.00) on shares of GeneDx in a research note on Wednesday, October 29th. Zacks Research downgraded GeneDx from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Piper Sandler lifted their target price on shares of GeneDx from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Finally, BTIG Research increased their price target on shares of GeneDx from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.22.

GeneDx 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.