Quantitative Investment Management LLC Buys New Position in GeneDx Holdings Corp. $WGS

Quantitative Investment Management LLC purchased a new position in GeneDx Holdings Corp. (NASDAQ:WGS) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 15,071 shares of the company’s stock, valued at approximately $1,623,000. Quantitative Investment Management LLC owned approximately 0.05% of GeneDx at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of WGS. Franklin Resources Inc. boosted its position in shares of GeneDx by 101.9% during the 3rd quarter. Franklin Resources Inc. now owns 681,381 shares of the company’s stock valued at $73,412,000 after purchasing an additional 343,954 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of GeneDx by 164.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 589,188 shares of the company’s stock worth $54,388,000 after purchasing an additional 366,711 shares in the last quarter. Invesco Ltd. lifted its stake in GeneDx by 42.3% during the second quarter. Invesco Ltd. now owns 554,419 shares of the company’s stock valued at $51,178,000 after purchasing an additional 164,840 shares during the last quarter. Geode Capital Management LLC lifted its stake in GeneDx by 23.4% during the second quarter. Geode Capital Management LLC now owns 484,714 shares of the company’s stock valued at $44,750,000 after purchasing an additional 91,989 shares during the last quarter. Finally, ARK Investment Management LLC bought a new stake in GeneDx during the third quarter worth approximately $48,157,000. 61.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on WGS. Zacks Research upgraded shares of GeneDx from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 25th. Canaccord Genuity Group raised their price objective on GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Wells Fargo & Company upgraded GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 target price on the stock in a report on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, January 21st. Finally, BTIG Research reduced their target price on GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, GeneDx has a consensus rating of “Moderate Buy” and an average price target of $150.71.

Insider Activity at GeneDx

In other news, CFO Kevin Feeley sold 6,187 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $78.61, for a total transaction of $486,360.07. Following the transaction, the chief financial officer directly owned 18,674 shares in the company, valued at $1,467,963.14. The trade was a 24.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Keith A. Meister acquired 140,026 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were purchased at an average price of $81.19 per share, with a total value of $11,368,710.94. Following the completion of the acquisition, the director owned 3,228,150 shares of the company’s stock, valued at $262,093,498.50. This represents a 4.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders sold 57,702 shares of company stock worth $5,640,255. Corporate insiders own 29.60% of the company’s stock.

GeneDx Price Performance

NASDAQ WGS opened at $76.85 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.46 and a quick ratio of 2.34. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -102.47 and a beta of 2.03. The company has a 50 day simple moving average of $97.36 and a 200-day simple moving average of $121.15. GeneDx Holdings Corp. has a 52-week low of $55.17 and a 52-week high of $170.87.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The firm had revenue of $120.99 million for the quarter, compared to the consensus estimate of $120.80 million. GeneDx had a negative net margin of 4.92% and a positive return on equity of 14.73%. Equities research analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.