Thoroughbred Financial Services LLC Takes $403,000 Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Thoroughbred Financial Services LLC purchased a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,250 shares of the company’s stock, valued at approximately $403,000.

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

GeneDx Stock Down 0.1 %

Shares of GeneDx stock opened at $80.02 on Monday. GeneDx Holdings Corp. has a 52-week low of $8.63 and a 52-week high of $115.60. The firm’s 50 day moving average price is $88.11 and its 200-day moving average price is $76.09. 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 $2.25 billion, a P/E ratio of -40.83 and a beta of 1.93.

GeneDx (NASDAQ:WGS) last issued its quarterly 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. The business had revenue of $95.64 million for the quarter, compared to the consensus estimate of $82.24 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. On average, sell-side analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at GeneDx

In other news, CEO Katherine Stueland sold 10,559 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $96.71, for a total transaction of $1,021,160.89. Following the sale, the chief executive officer now directly owns 14,865 shares of the company’s stock, valued at $1,437,594.15. The trade was a 41.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Feeley sold 35,506 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $93.82, for a total value of $3,331,172.92. Following the completion of the transaction, the chief financial officer now owns 2,472 shares of the company’s stock, valued at $231,923.04. This trade represents a 93.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 163,596 shares of company stock worth $15,490,752. 27.30% of the stock is owned by insiders.

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.