Tidal Investments LLC purchased a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,103 shares of the company's stock, valued at approximately $514,000.
Several other hedge funds also recently modified their holdings of the business. Acadian Asset Management LLC acquired a new position in GeneDx during the 2nd quarter valued at $34,000. nVerses Capital LLC acquired a new position in shares of GeneDx during the second quarter valued at about $50,000. CWM LLC bought a new stake in shares of GeneDx in the third quarter valued at about $89,000. SG Americas Securities LLC acquired a new stake in GeneDx during the third quarter worth about $198,000. Finally, Point72 DIFC Ltd bought a new position in GeneDx during the third quarter valued at about $220,000. 61.72% of the stock is owned by institutional investors.
Shares of GeneDx stock opened at $77.40 on Monday. GeneDx Holdings Corp. has a 12-month low of $2.47 and a 12-month high of $89.11. The stock has a market capitalization of $2.13 billion, a P/E ratio of -24.89 and a beta of 2.03. The company has a 50-day simple moving average of $72.46 and a 200 day simple moving average of $47.51. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.
GeneDx (NASDAQ:WGS - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.25. The firm had revenue of $76.90 million during the quarter, compared to the consensus estimate of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The business's revenue for the quarter was up 44.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.82) EPS. Research analysts expect that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.
In other news, CEO Katherine Stueland sold 2,154 shares of GeneDx stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $66.60, for a total transaction of $143,456.40. Following the completion of the sale, the chief executive officer now owns 105,426 shares in the company, valued at $7,021,371.60. The trade was a 2.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder School Of Medicine At Mo Icahn sold 20,359 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $69.78, for a total transaction of $1,420,651.02. Following the sale, the insider now directly owns 2,846,474 shares of the company's stock, valued at approximately $198,626,955.72. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,123,603 shares of company stock worth $83,300,382. Corporate insiders own 27.30% of the company's stock.
A number of brokerages recently commented on WGS. The Goldman Sachs Group upped their target price on GeneDx from $54.00 to $70.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Craig Hallum raised their price objective on shares of GeneDx from $70.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their target price on shares of GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.33.
View Our Latest Stock Analysis on WGS
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.
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