Prudential Financial Inc. Buys New Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

Prudential Financial Inc. acquired a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 103,275 shares of the company’s stock, valued at approximately $7,938,000. Prudential Financial Inc. owned 0.38% of GeneDx at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WGS. MCF Advisors LLC raised its stake in shares of GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after buying an additional 182 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of GeneDx during the 4th quarter valued at about $28,000. KLP Kapitalforvaltning AS acquired a new position in GeneDx in the 4th quarter worth about $200,000. Evolution Wealth Advisors LLC purchased a new stake in shares of GeneDx during the fourth quarter worth about $202,000. Finally, Victory Capital Management Inc. purchased a new stake in GeneDx during the 4th quarter worth approximately $209,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on WGS. The Goldman Sachs Group lifted their price target on GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. TD Cowen raised their price target on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, GeneDx currently has an average rating of “Moderate Buy” and an average price target of $72.33.

Insider Activity

In other GeneDx news, 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 sale, the chief executive officer now directly owns 1,720 shares in the company, valued at $162,505.60. This trade represents a 96.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Feeley sold 402 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $90.05, for a total value of $36,200.10. Following the transaction, the chief financial officer now directly owns 5,044 shares of the company’s stock, valued at approximately $454,212.20. This represents a 7.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 183,032 shares of company stock worth $17,007,198. Corporate insiders own 27.30% of the company’s stock.

GeneDx Trading Down 2.3 %

Shares of NASDAQ WGS opened at $92.20 on Friday. The stock has a fifty day simple moving average of $87.28 and a 200-day simple moving average of $74.20. GeneDx Holdings Corp. has a twelve month low of $8.53 and a twelve month high of $115.60. 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 capitalization of $2.59 billion, a PE ratio of -47.04 and a beta of 1.91.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.66. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The business had revenue of $95.64 million for the quarter, compared to analysts’ expectations of $82.24 million. On average, equities analysts forecast that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

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.