Virtu Financial LLC Purchases New Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

Virtu Financial LLC purchased a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,622 shares of the company’s stock, valued at approximately $321,000.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in GeneDx by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 1,031,326 shares of the company’s stock valued at $91,339,000 after acquiring an additional 25,116 shares during the period. Summit Partners Public Asset Management LLC raised its holdings in GeneDx by 336.9% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 755,564 shares of the company’s stock worth $58,073,000 after buying an additional 582,619 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in GeneDx in the fourth quarter worth about $48,458,000. Fred Alger Management LLC raised its holdings in GeneDx by 38.5% in the fourth quarter. Fred Alger Management LLC now owns 546,054 shares of the company’s stock worth $41,970,000 after buying an additional 151,824 shares during the last quarter. Finally, Zweig DiMenna Associates LLC raised its holdings in GeneDx by 47.7% in the first quarter. Zweig DiMenna Associates LLC now owns 457,100 shares of the company’s stock worth $40,483,000 after buying an additional 147,600 shares during the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

GeneDx Stock Performance

Shares of WGS stock opened at $122.88 on Friday. The company has a 50 day moving average price of $87.30 and a 200-day moving average price of $85.33. GeneDx Holdings Corp. has a 52 week low of $28.86 and a 52 week high of $123.81. The firm has a market capitalization of $3.53 billion, a PE ratio of 2,457.60 and a beta of 2.02. The company has a quick ratio of 2.70, a current ratio of 2.87 and a debt-to-equity ratio of 0.19.

GeneDx (NASDAQ:WGS) last announced its earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.40. The company had revenue of $102.69 million during the quarter, compared to analyst estimates of $86.00 million. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. As a group, equities research analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on WGS. TD Securities decreased 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. Guggenheim reaffirmed a “buy” rating and issued a $115.00 target price (up from $88.00) on shares of GeneDx in a report on Monday, June 30th. Wells Fargo & Company lifted their target price on shares of GeneDx from $78.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Wall Street Zen raised shares of GeneDx from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, Jefferies Financial Group raised shares of GeneDx from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.63.

Insider Activity at GeneDx

In related news, CEO Katherine Stueland sold 2,154 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $105.31, for a total transaction of $226,837.74. Following the completion of the sale, the chief executive officer directly owned 3,440 shares in the company, valued at approximately $362,266.40. The trade was a 38.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Feeley sold 388 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $105.31, for a total transaction of $40,860.28. Following the sale, the chief financial officer owned 3,757 shares of the company’s stock, valued at $395,649.67. This trade represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,411 shares of company stock valued at $2,085,051 over the last 90 days. 29.60% of the stock is currently owned by company insiders.

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.