Renaissance Technologies LLC Buys 111,543 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Renaissance Technologies LLC increased its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 119.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 205,116 shares of the company’s stock after purchasing an additional 111,543 shares during the period. Renaissance Technologies LLC owned approximately 0.75% of GeneDx worth $15,765,000 as of its most recent SEC filing.

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

Insider Transactions at GeneDx

In other GeneDx news, CEO Katherine Stueland sold 2,731 shares of GeneDx stock in a transaction on Monday, March 10th. The shares were sold at an average price of $94.73, for a total transaction of $258,707.63. Following the completion of the transaction, the chief executive officer now directly owns 7,752 shares of the company’s stock, valued at $734,346.96. The trade was a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin Feeley sold 402 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $90.05, for a total transaction of $36,200.10. Following the sale, the chief financial officer now owns 5,044 shares of the company’s stock, valued at approximately $454,212.20. This represents a 7.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,780 shares of company stock worth $12,907,437 in the last 90 days. Corporate insiders own 27.30% of the company’s stock.

Analyst Ratings Changes

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

GeneDx Stock Performance

Shares of WGS stock opened at $101.04 on Tuesday. GeneDx Holdings Corp. has a 12 month low of $8.63 and a 12 month high of $115.60. The company’s fifty day simple moving average is $91.11 and its 200-day simple moving average is $78.78. The firm has a market cap of $2.84 billion, a PE ratio of -51.55 and a beta of 1.93. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. The company 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 research analysts expect that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

GeneDx Company 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.