Mission Wealth Management LP Invests $384,000 in GeneDx Holdings Corp. (NASDAQ:WGS)

Mission Wealth Management LP acquired a new position in GeneDx Holdings Corp. (NASDAQ:WGS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,000 shares of the company’s stock, valued at approximately $384,000.

Several other institutional investors have also recently made changes to their positions in WGS. MCF Advisors LLC raised its stake in GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock worth $27,000 after acquiring an additional 182 shares during the period. Global Retirement Partners LLC bought a new stake in GeneDx during the 4th quarter worth approximately $28,000. Rhumbline Advisers raised its stake in 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 acquiring an additional 1,021 shares during the period. Principal Financial Group Inc. raised its stake in GeneDx by 10.6% during the 4th quarter. Principal Financial Group Inc. now owns 15,751 shares of the company’s stock worth $1,211,000 after acquiring an additional 1,511 shares during the period. 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 during the period. Institutional investors own 61.72% of the company’s stock.

GeneDx Trading Up 6.4 %

Shares of WGS opened at $105.31 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.40 and a quick ratio of 2.27. GeneDx Holdings Corp. has a 1 year low of $7.72 and a 1 year high of $115.60. The company has a 50 day simple moving average of $82.49 and a two-hundred day simple moving average of $66.82. The firm has a market cap of $2.96 billion, a P/E ratio of -53.73 and a beta of 2.01.

GeneDx (NASDAQ:WGS) last posted its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $82.24 million. On average, equities analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on WGS shares. The Goldman Sachs Group raised their target price on shares of GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. TD Cowen increased their price objective on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, GeneDx presently has an average rating of “Moderate Buy” and an average price target of $72.33.

Insider Activity at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 35,506 shares of GeneDx 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 transaction, the chief financial officer now directly owns 2,472 shares of the company’s stock, valued at $231,923.04. The trade was a 93.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Katherine Stueland sold 51,420 shares of GeneDx stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the transaction, the chief executive officer now directly owns 1,720 shares of the company’s stock, valued at $162,505.60. The trade was a 96.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,321 shares of company stock valued at $11,315,903. 27.30% of the stock is owned by corporate insiders.

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.