40,573 Shares in GeneDx Holdings Corp. (NASDAQ:WGS) Acquired by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC acquired a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 40,573 shares of the company’s stock, valued at approximately $1,722,000. Chartwell Investment Partners LLC owned about 0.15% of GeneDx at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Oracle Investment Management Inc. grew its stake in shares of GeneDx by 531.7% during the 1st quarter. Oracle Investment Management Inc. now owns 1,126,607 shares of the company’s stock valued at $10,286,000 after buying an additional 948,253 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of GeneDx during the 2nd quarter valued at $11,335,000. Assenagon Asset Management S.A. purchased a new stake in shares of GeneDx during the 2nd quarter valued at $9,575,000. Divisadero Street Capital Management LP purchased a new stake in shares of GeneDx during the 2nd quarter valued at $5,886,000. Finally, Gagnon Securities LLC boosted its position in GeneDx by 59.3% during the 1st quarter. Gagnon Securities LLC now owns 556,305 shares of the company’s stock worth $5,079,000 after purchasing an additional 207,027 shares during the period. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WGS. BTIG Research upped their price target on shares of GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group upped their price target on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price target on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. TD Cowen upped their price target on shares of GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Craig Hallum upped their price target on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $59.33.

Insider Activity

In other news, major shareholder Opko Health, Inc. sold 39,824 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $33.08, for a total value of $1,317,377.92. Following the sale, the insider now owns 2,746,972 shares in the company, valued at approximately $90,869,833.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $75.00, for a total transaction of $64,935,000.00. Following the sale, the insider now owns 2,866,833 shares in the company, valued at $215,012,475. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Opko Health, Inc. sold 39,824 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $33.08, for a total transaction of $1,317,377.92. Following the sale, the insider now owns 2,746,972 shares in the company, valued at approximately $90,869,833.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 962,848 shares of company stock worth $68,298,009. 27.30% of the stock is currently owned by corporate insiders.

GeneDx Stock Performance

Shares of WGS stock opened at $76.92 on Wednesday. GeneDx Holdings Corp. has a 12 month low of $1.16 and a 12 month high of $89.11. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. The firm has a market capitalization of $2.11 billion, a P/E ratio of -24.73 and a beta of 2.11. The company’s fifty day moving average price is $53.43 and its two-hundred day moving average price is $36.76.

GeneDx (NASDAQ:WGS) last issued its earnings results on Tuesday, October 29th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.25. The business had revenue of $76.90 million for the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The company’s revenue for the quarter was up 44.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.82) EPS. On average, research analysts anticipate that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

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.