ProShare Advisors LLC Invests $277,000 in GeneDx Holdings Corp. (NASDAQ:WGS)

ProShare Advisors LLC bought a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGSFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,598 shares of the company’s stock, valued at approximately $277,000.

Other hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. bought a new position in GeneDx during the fourth quarter worth $2,645,000. Envestnet Asset Management Inc. purchased a new position in GeneDx during the fourth quarter worth about $380,000. Prudential Financial Inc. bought a new position in shares of GeneDx in the fourth quarter valued at approximately $7,938,000. Voya Investment Management LLC bought a new position in GeneDx in the 4th quarter valued at $292,000. Finally, Nuveen Asset Management LLC raised its position in GeneDx by 1.6% in the fourth quarter. Nuveen Asset Management LLC now owns 197,365 shares of the company’s stock worth $15,169,000 after acquiring an additional 3,084 shares during the period. Institutional investors own 61.72% of the company’s stock.

GeneDx Price Performance

NASDAQ WGS opened at $70.71 on Friday. The company has a 50-day moving average price of $81.79 and a 200-day moving average price of $82.13. GeneDx Holdings Corp. has a 52 week low of $19.54 and a 52 week high of $117.75. The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $2.02 billion, a P/E ratio of -36.08 and a beta of 1.96.

GeneDx (NASDAQ:WGSGet Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.17. The firm had revenue of $87.12 million during the quarter, compared to analyst estimates of $79.90 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. Equities research analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WGS shares. The Goldman Sachs Group lifted 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. Guggenheim initiated coverage on GeneDx in a report on Thursday, May 15th. They issued a “buy” rating and a $88.00 price objective for the company. Wells Fargo & Company lowered their target price on GeneDx from $105.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. TD Securities dropped their target price on shares of GeneDx from $135.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Jefferies Financial Group upgraded shares of GeneDx from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.75.

View Our Latest Research Report on WGS

Insider Activity at GeneDx

In other news, Director Keith A. Meister purchased 100,000 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were acquired at an average price of $56.01 per share, with a total value of $5,601,000.00. Following the transaction, the director now owns 3,008,629 shares of the company’s stock, valued at $168,513,310.29. This represents a 3.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Katherine Stueland sold 2,731 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $94.73, for a total transaction of $258,707.63. Following the transaction, the chief executive officer now owns 7,752 shares in the company, valued at approximately $734,346.96. The trade was a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 139,390 shares of company stock valued at $13,043,288. Insiders own 29.60% of the company’s stock.

GeneDx Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for GeneDx (NASDAQ:WGS)

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