Wealth Enhancement Advisory Services LLC Purchases New Shares in GeneDx Holdings Corp. $WGS

Wealth Enhancement Advisory Services LLC purchased a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) in the third quarter, HoldingsChannel.com reports. The firm purchased 6,250 shares of the company’s stock, valued at approximately $673,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of WGS. AlphaQuest LLC raised its holdings in shares of GeneDx by 351.5% in the second quarter. AlphaQuest LLC now owns 763 shares of the company’s stock valued at $70,000 after buying an additional 594 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in GeneDx in the 3rd quarter valued at about $187,000. Tower Research Capital LLC TRC raised its stake in GeneDx by 479.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,818 shares of the company’s stock valued at $168,000 after acquiring an additional 1,504 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in GeneDx by 61.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,917 shares of the company’s stock valued at $177,000 after acquiring an additional 726 shares during the last quarter. Finally, Silver Oak Securities Incorporated acquired a new stake in GeneDx during the 3rd quarter worth approximately $235,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

GeneDx Stock Performance

NASDAQ:WGS opened at $85.35 on Thursday. The firm’s fifty day simple moving average is $129.42 and its 200-day simple moving average is $124.86. The company has a quick ratio of 2.59, a current ratio of 2.71 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.47 billion, a PE ratio of 948.33 and a beta of 2.00. GeneDx Holdings Corp. has a fifty-two week low of $55.17 and a fifty-two week high of $170.87.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on WGS shares. Guggenheim reissued a “buy” rating and issued a $170.00 target price (up previously from $115.00) on shares of GeneDx in a report on Wednesday, October 29th. BTIG Research boosted their price objective on shares of GeneDx from $165.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Weiss Ratings restated a “sell (d)” rating on shares of GeneDx in a research report on Wednesday, January 21st. Wells Fargo & Company set a $155.00 target price on shares of GeneDx and gave the company an “equal weight” rating in a report on Monday, December 15th. Finally, Canaccord Genuity Group boosted their price target on shares of GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.13.

Insider Activity at GeneDx

In other news, Director Joshua Ruch sold 38,000 shares of GeneDx stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $160.37, for a total transaction of $6,094,060.00. Following the completion of the sale, the director directly owned 11,941 shares in the company, valued at approximately $1,914,978.17. This trade represents a 76.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 10,857 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $143.89, for a total value of $1,562,213.73. Following the sale, the chief executive officer directly owned 14,237 shares in the company, valued at $2,048,561.93. This trade represents a 43.27% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 63,000 shares of company stock valued at $9,517,034. 29.60% of the stock is currently owned by corporate insiders.

GeneDx 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.