GeneDx Holdings Corp. $WGS Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP increased its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 347,927 shares of the company’s stock after purchasing an additional 6,922 shares during the period. Wellington Management Group LLP owned approximately 1.17% of GeneDx worth $23,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position in GeneDx by 30.2% during the 1st quarter. Royal Bank of Canada now owns 29,479 shares of the company’s stock worth $2,611,000 after purchasing an additional 6,840 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of GeneDx by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock valued at $677,000 after buying an additional 453 shares during the period. NewEdge Advisors LLC boosted its stake in shares of GeneDx by 270,700.0% in the first quarter. NewEdge Advisors LLC now owns 2,708 shares of the company’s stock worth $240,000 after buying an additional 2,707 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in GeneDx by 67.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,224 shares of the company’s stock worth $2,500,000 after acquiring an additional 11,375 shares during the period. Finally, Cetera Investment Advisers purchased a new position in GeneDx during the second quarter valued at approximately $249,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on WGS. TD Cowen restated a “buy” rating on shares of GeneDx in a research report on Wednesday, July 15th. Wall Street Zen raised shares of GeneDx from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Guggenheim reissued a “buy” rating and set a $74.00 price target (up from $70.00) on shares of GeneDx in a report on Monday, June 29th. BTIG Research restated a “buy” rating and set a $90.00 price target on shares of GeneDx in a research report on Tuesday, August 4th. Finally, Zacks Research raised shares of GeneDx from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.57.

Insider Activity

In other news, CEO Katherine Stueland sold 10,501 shares of GeneDx stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $60.77, for a total value of $638,145.77. Following the sale, the chief executive officer owned 104,372 shares in the company, valued at $6,342,686.44. This trade represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevin Feeley sold 3,729 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $60.77, for a total transaction of $226,611.33. Following the transaction, the chief financial officer owned 39,954 shares of the company’s stock, valued at approximately $2,428,004.58. This trade represents a 8.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 19,135 shares of company stock worth $1,128,499. Company insiders own 25.17% of the company’s stock.

GeneDx Stock Down 1.6%

Shares of WGS opened at $85.99 on Friday. The company has a current ratio of 3.30, a quick ratio of 3.06 and a debt-to-equity ratio of 0.40. GeneDx Holdings Corp. has a 12 month low of $32.21 and a 12 month high of $170.87. The stock’s 50 day moving average is $73.01 and its two-hundred day moving average is $66.91. The firm has a market cap of $2.56 billion, a P/E ratio of -23.62 and a beta of 1.99.

GeneDx (NASDAQ:WGS) last announced its earnings results on Monday, August 3rd. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.20. GeneDx had a positive return on equity of 4.12% and a negative net margin of 23.41%.The business had revenue of $114.44 million during the quarter, compared to the consensus estimate of $111.01 million. During the same period in the prior year, the company posted $0.36 EPS. Analysts predict that GeneDx Holdings Corp. will post -0.41 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.