Panoramic Capital LLC Purchases Shares of 51,294 GeneDx Holdings Corp. (NASDAQ:WGS)

Panoramic Capital LLC bought a new stake in GeneDx Holdings Corp. (NASDAQ:WGS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 51,294 shares of the company’s stock, valued at approximately $3,942,000. GeneDx accounts for about 2.1% of Panoramic Capital LLC’s portfolio, making the stock its 14th biggest position. Panoramic Capital LLC owned 0.19% of GeneDx at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Nia Impact Advisors LLC bought a new stake in shares of GeneDx in the 4th quarter worth about $1,480,000. Nicholas Investment Partners LP boosted its position in GeneDx by 40.0% in the fourth quarter. Nicholas Investment Partners LP now owns 97,049 shares of the company’s stock valued at $7,459,000 after buying an additional 27,712 shares in the last quarter. Nuveen Asset Management LLC grew its stake in GeneDx by 1.6% during the fourth quarter. Nuveen Asset Management LLC now owns 197,365 shares of the company’s stock worth $15,169,000 after buying an additional 3,084 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in GeneDx by 7.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,188 shares of the company’s stock worth $552,000 after buying an additional 515 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of GeneDx during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

GeneDx Stock Up 3.3%

Shares of WGS opened at $60.93 on Wednesday. The business’s fifty day moving average price is $88.77 and its two-hundred day moving average price is $82.83. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -31.09 and a beta of 1.96. GeneDx Holdings Corp. has a 52 week low of $19.16 and a 52 week high of $117.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.17. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. The firm had revenue of $87.12 million during the quarter, compared to the consensus estimate of $79.90 million. On average, analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Insider Buying and Selling

In other GeneDx news, CEO Katherine Stueland sold 2,731 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $94.73, for a total transaction of $258,707.63. Following the sale, the chief executive officer now directly owns 7,752 shares of the company’s stock, valued at $734,346.96. This represents a 26.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Feeley sold 922 shares of GeneDx stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $94.72, for a total transaction of $87,331.84. Following the completion of the transaction, the chief financial officer now owns 5,446 shares of the company’s stock, valued at $515,845.12. The trade was a 14.48% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 139,390 shares of company stock worth $13,043,288. 27.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Jefferies Financial Group raised GeneDx from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Friday, May 9th. TD Securities reduced their price objective on GeneDx from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group raised their target price on GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company reduced their price target on shares of GeneDx from $105.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $86.57.

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.