Prudential Financial Inc. Invests $7.94 Million in GeneDx Holdings Corp. (NASDAQ:WGS)

Prudential Financial Inc. purchased a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 103,275 shares of the company’s stock, valued at approximately $7,938,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. William Blair Investment Management LLC purchased a new position in GeneDx during the 4th quarter worth $51,496,000. Fred Alger Management LLC purchased a new position in shares of GeneDx during the third quarter worth about $16,731,000. Zweig DiMenna Associates LLC purchased a new stake in GeneDx during the 4th quarter valued at approximately $23,788,000. Raymond James Financial Inc. acquired a new stake in GeneDx during the 4th quarter worth approximately $20,371,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of GeneDx in the third quarter valued at approximately $7,533,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kevin Feeley sold 35,506 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $93.82, for a total transaction of $3,331,172.92. Following the completion of the sale, the chief financial officer now directly owns 2,472 shares of the company’s stock, valued at approximately $231,923.04. This represents a 93.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Katherine Stueland sold 46,551 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $95.62, for a total value of $4,451,206.62. Following the sale, the chief executive officer now owns 48,314 shares in the company, valued at approximately $4,619,784.68. The trade was a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 183,032 shares of company stock valued at $17,007,198. Insiders own 27.30% of the company’s stock.

GeneDx Stock Performance

GeneDx stock opened at $92.20 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 company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -47.04 and a beta of 1.91. GeneDx Holdings Corp. has a fifty-two week low of $8.53 and a fifty-two week high of $115.60. The stock has a fifty day moving average of $87.28 and a two-hundred day moving average of $74.20.

GeneDx (NASDAQ:WGS) last announced its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. On average, analysts anticipate that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Analyst Ratings Changes

WGS has been the topic of several recent research reports. The Goldman Sachs Group boosted 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 lifted their price target 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.33.

GeneDx 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.