Bailard Inc. Takes $277,000 Position in GeneDx Holdings Corp. (NASDAQ:WGS)

Bailard Inc. bought a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,600 shares of the company’s stock, valued at approximately $277,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. MCF Advisors LLC increased its holdings in shares of GeneDx by 107.7% in 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 last quarter. Global Retirement Partners LLC acquired a new stake in GeneDx during the fourth quarter worth approximately $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 worth $1,518,000 after buying an additional 1,021 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of GeneDx by 10.6% in the 4th quarter. Principal Financial Group Inc. now owns 15,751 shares of the company’s stock valued at $1,211,000 after buying an additional 1,511 shares during the last quarter. Finally, Palumbo Wealth Management LLC raised its stake in GeneDx by 22.8% during the 4th quarter. Palumbo Wealth Management LLC now owns 8,303 shares of the company’s stock worth $638,000 after acquiring an additional 1,542 shares in the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. TD Cowen raised their target price 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, GeneDx currently has an average rating of “Moderate Buy” and an average price target of $72.33.

GeneDx Stock Up 6.4 %

GeneDx stock opened at $105.31 on Thursday. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average of $82.49 and a two-hundred day moving average of $66.82. GeneDx Holdings Corp. has a twelve month low of $7.72 and a twelve month high of $115.60. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of -53.73 and a beta of 2.01.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.66. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The company had revenue of $95.64 million for the quarter, compared to analysts’ expectations of $82.24 million. As a group, research analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Buying and Selling

In other GeneDx news, CEO Katherine Stueland sold 1,657 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $78.48, for a total value of $130,041.36. Following the completion of the sale, the chief executive officer now owns 3,937 shares of the company’s stock, valued at approximately $308,975.76. This trade represents a 29.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Feeley sold 1,137 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $76.37, for a total transaction of $86,832.69. Following the transaction, the chief financial officer now directly owns 24,731 shares in the company, valued at approximately $1,888,706.47. This trade represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,321 shares of company stock valued at $11,315,903 over the last ninety 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.