Palumbo Wealth Management LLC Buys 1,542 Shares of GeneDx Holdings Corp. (NASDAQ:WGS)

Palumbo Wealth Management LLC boosted its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 22.8% during the 4th quarter, HoldingsChannel reports. The fund owned 8,303 shares of the company’s stock after purchasing an additional 1,542 shares during the period. Palumbo Wealth Management LLC’s holdings in GeneDx were worth $638,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in WGS. SG Americas Securities LLC bought a new stake in GeneDx during the third quarter worth approximately $198,000. CWM LLC bought a new position in shares of GeneDx during the third quarter valued at approximately $89,000. Raymond James & Associates bought a new position in shares of GeneDx during the third quarter valued at approximately $8,090,000. Precision Wealth Strategies LLC bought a new position in shares of GeneDx during the third quarter valued at approximately $364,000. Finally, Principal Financial Group Inc. bought a new position in shares of GeneDx during the third quarter valued at approximately $604,000. 61.72% of the stock is owned by institutional investors.

GeneDx Stock Down 2.1 %

Shares of NASDAQ WGS opened at $76.35 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of -24.55 and a beta of 2.01. The stock has a 50 day moving average price of $76.41 and a 200 day moving average price of $60.70. GeneDx Holdings Corp. has a 52-week low of $4.34 and a 52-week high of $98.87.

Wall Street Analyst Weigh In

A number of research firms have 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 upped their target price on GeneDx from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their target price on GeneDx from $34.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, TD Cowen upped their target price on GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.67.

Insider Activity at GeneDx

In other GeneDx news, Director Jason Ryan sold 31,510 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $71.28, for a total transaction of $2,246,032.80. Following the completion of the sale, the director now owns 15,490 shares in the company, valued at $1,104,127.20. This represents a 67.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder School Of Medicine At Mo Icahn sold 126,782 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $70.78, for a total value of $8,973,629.96. Following the sale, the insider now owns 2,719,692 shares of the company’s stock, valued at approximately $192,499,799.76. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 320,202 shares of company stock worth $25,011,778. Company insiders own 27.30% of the company’s stock.

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.