William Blair Investment Management LLC Makes New Investment in GeneDx Holdings Corp. (NASDAQ:WGS)

William Blair Investment Management LLC purchased a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 669,995 shares of the company’s stock, valued at approximately $51,496,000. William Blair Investment Management LLC owned about 2.44% of GeneDx as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Barclays PLC boosted its position in GeneDx by 346.3% during the 3rd quarter. Barclays PLC now owns 18,921 shares of the company’s stock worth $803,000 after acquiring an additional 14,681 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of GeneDx in the 3rd quarter valued at approximately $325,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of GeneDx by 304.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company’s stock valued at $6,240,000 after buying an additional 110,666 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of GeneDx in the 3rd quarter valued at approximately $301,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of GeneDx in the 3rd quarter valued at approximately $604,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Wall Street Analyst Weigh In

WGS has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price objective on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. TD Cowen increased their price objective on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.33.

GeneDx Stock Down 4.1 %

WGS opened at $94.46 on Tuesday. GeneDx Holdings Corp. has a 1-year low of $7.72 and a 1-year high of $115.60. The stock’s fifty day simple moving average is $84.69 and its 200 day simple moving average is $70.37. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.65 billion, a PE ratio of -48.19 and a beta of 1.91.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The business had revenue of $95.64 million for the quarter, compared to analysts’ expectations of $82.24 million. 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, CFO Kevin Feeley sold 1,430 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.04, for a total value of $108,737.20. Following the transaction, the chief financial officer now owns 26,770 shares in the company, valued at approximately $2,035,590.80. This trade represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katherine Stueland sold 51,420 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $94.48, for a total value of $4,858,161.60. Following the completion of the transaction, the chief executive officer now owns 1,720 shares in the company, valued at $162,505.60. The trade was a 96.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,735 shares of company stock worth $11,719,787 in the last 90 days. Company 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.