Integrated Quantitative Investments LLC Buys Shares of 4,700 GeneDx Holdings Corp. (NASDAQ:WGS)

Integrated Quantitative Investments LLC purchased a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,700 shares of the company’s stock, valued at approximately $361,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. MCF Advisors LLC increased its position in GeneDx by 107.7% in the fourth quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after buying an additional 182 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of GeneDx in the fourth quarter worth approximately $28,000. KLP Kapitalforvaltning AS bought a new stake in shares of GeneDx during the 4th quarter valued at $200,000. Evolution Wealth Advisors LLC bought a new position in GeneDx in the 4th quarter worth $202,000. Finally, Victory Capital Management Inc. bought a new stake in GeneDx during the fourth quarter valued at about $209,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

GeneDx Stock Performance

NASDAQ:WGS opened at $80.02 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The company has a market cap of $2.25 billion, a price-to-earnings ratio of -40.83 and a beta of 1.91. GeneDx Holdings Corp. has a 1 year low of $8.63 and a 1 year high of $115.60. The stock’s 50 day simple moving average is $88.11 and its two-hundred day simple moving average is $75.56.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $82.24 million. As a group, equities analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GeneDx news, CFO Kevin Feeley sold 8,746 shares of GeneDx stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $95.61, for a total transaction of $836,205.06. Following the completion of the transaction, the chief financial officer now directly owns 15,996 shares of the company’s stock, valued at $1,529,377.56. The trade was a 35.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Katherine Stueland sold 1,657 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $78.48, for a total transaction of $130,041.36. Following the completion of the sale, the chief executive officer now directly owns 3,937 shares in the company, valued at approximately $308,975.76. This represents a 29.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 163,596 shares of company stock worth $15,490,752. Corporate insiders own 27.30% of the company’s stock.

Analysts Set New Price Targets

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

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.