Connor Clark & Lunn Investment Management Ltd. Purchases 106,089 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Connor Clark & Lunn Investment Management Ltd. boosted its position in GeneDx Holdings Corp. (NASDAQ:WGS) by 176.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,094 shares of the company’s stock after purchasing an additional 106,089 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.60% of GeneDx worth $12,766,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MCF Advisors LLC lifted its position in shares of GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after acquiring an additional 182 shares during the period. Global Retirement Partners LLC bought a new stake in shares of GeneDx during the 4th quarter valued at $28,000. Rhumbline Advisers lifted its position in shares of GeneDx by 5.5% during the 4th quarter. Rhumbline Advisers now owns 19,750 shares of the company’s stock valued at $1,518,000 after acquiring an additional 1,021 shares during the period. Principal Financial Group Inc. lifted its position in shares of GeneDx by 10.6% during the 4th quarter. Principal Financial Group Inc. now owns 15,751 shares of the company’s stock valued at $1,211,000 after acquiring an additional 1,511 shares during the period. Finally, Palumbo Wealth Management LLC lifted its position in shares of GeneDx by 22.8% during the 4th quarter. Palumbo Wealth Management LLC now owns 8,303 shares of the company’s stock valued at $638,000 after acquiring an additional 1,542 shares during the period. 61.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. TD Cowen upped their price objective on 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 upped their price objective on GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.33.

GeneDx Price Performance

Shares of WGS stock opened at $98.47 on Friday. GeneDx Holdings Corp. has a twelve month low of $7.72 and a twelve month high of $115.60. The business has a fifty day simple moving average of $84.60 and a 200 day simple moving average of $69.43. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The company has a market cap of $2.76 billion, a P/E ratio of -50.24 and a beta of 1.90.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.66. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. The business had revenue of $95.64 million during the quarter, compared to analysts’ expectations of $82.24 million. On average, sell-side analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Katherine Stueland sold 2,731 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $94.73, for a total value of $258,707.63. Following the completion of the sale, the chief executive officer now owns 7,752 shares of the company’s stock, valued at approximately $734,346.96. This represents a 26.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin Feeley sold 1,430 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.04, for a total value of $108,737.20. Following the completion of the sale, the chief financial officer now directly owns 26,770 shares of the company’s stock, valued at approximately $2,035,590.80. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 126,176 shares of company stock valued at $11,295,519 in the last 90 days. Corporate insiders own 27.30% of the company’s stock.

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.