Legacy Capital Group California Inc. Makes New $883,000 Investment in GeneDx Holdings Corp. (NASDAQ:WGS)

Legacy Capital Group California Inc. acquired a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,492 shares of the company’s stock, valued at approximately $883,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MCF Advisors LLC boosted its position in shares of GeneDx by 107.7% in the fourth 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 in the fourth quarter valued at about $28,000. Rhumbline Advisers boosted its position in shares of GeneDx by 5.5% in the fourth 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. boosted its position in shares of GeneDx by 10.6% in the fourth 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 boosted its position in shares of GeneDx by 22.8% in the fourth 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 owned by institutional investors.

Wall Street Analyst Weigh In

WGS has been the subject of a number of recent research reports. Craig Hallum boosted their target price on shares of GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. TD Cowen boosted their target price on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group boosted their price target on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Wells Fargo & Company boosted their price target on 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.33.

GeneDx Stock Down 8.7 %

WGS stock opened at $101.58 on Friday. The company has a market cap of $2.79 billion, a PE ratio of -51.83 and a beta of 2.01. The business has a 50-day simple moving average of $78.64 and a 200 day simple moving average of $62.41. GeneDx Holdings Corp. has a 52 week low of $4.61 and a 52 week high of $115.60. 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) last issued its earnings results on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.04 by $0.66. The firm had revenue of $95.64 million during 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%. Sell-side analysts anticipate that GeneDx Holdings Corp. will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other GeneDx news, CFO Kevin Feeley sold 1,430 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.04, for a total transaction of $108,737.20. Following the completion of the transaction, the chief financial officer now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Katherine Stueland sold 3,661 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $76.37, for a total value of $279,590.57. Following the sale, the chief executive officer now owns 62,897 shares in the company, valued at approximately $4,803,443.89. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,584 shares of company stock valued at $11,336,520. 27.30% of the stock is currently owned by corporate insiders.

About GeneDx

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.