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

Panoramic Capital LLC bought a new position in GeneDx Holdings Corp. (NASDAQ:WGS) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 51,294 shares of the company’s stock, valued at approximately $3,942,000. GeneDx accounts for 2.1% of Panoramic Capital LLC’s holdings, making the stock its 14th biggest holding.

Other large investors have also recently modified their holdings of the company. MCF Advisors LLC lifted its position in GeneDx by 107.7% during the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after acquiring an additional 182 shares during the period. Sterling Capital Management LLC increased its stake in shares of GeneDx by 877.8% during the fourth quarter. Sterling Capital Management LLC now owns 352 shares of the company’s stock valued at $27,000 after purchasing an additional 316 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of GeneDx in the 4th quarter worth approximately $28,000. MetLife Investment Management LLC boosted its stake in GeneDx by 6.2% in the 4th quarter. MetLife Investment Management LLC now owns 7,750 shares of the company’s stock worth $596,000 after purchasing an additional 453 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in GeneDx in the 4th quarter worth approximately $35,000. Institutional investors own 61.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WGS shares. TD Securities lowered their target price on shares of 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 lifted their price objective 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. Wells Fargo & Company decreased their price objective on shares of GeneDx from $105.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Finally, Jefferies Financial Group raised GeneDx from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.57.

Insider Buying and Selling

In other news, Director Keith A. Meister acquired 100,000 shares of GeneDx stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average cost of $56.01 per share, with a total value of $5,601,000.00. Following the purchase, the director now owns 3,008,629 shares in the company, valued at $168,513,310.29. This trade represents a 3.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Feeley sold 388 shares of GeneDx stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $113.09, for a total transaction of $43,878.92. Following the sale, the chief financial officer now directly owns 3,337 shares in the company, valued at approximately $377,381.33. This trade represents a 10.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 139,390 shares of company stock worth $13,043,288 in the last 90 days. Insiders own 27.30% of the company’s stock.

GeneDx Price Performance

NASDAQ WGS opened at $60.93 on Wednesday. The company has a market cap of $1.71 billion, a PE ratio of -31.09 and a beta of 1.96. 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 Holdings Corp. has a 52-week low of $19.16 and a 52-week high of $117.75. The firm’s 50 day moving average price is $88.77 and its 200-day moving average price is $82.83.

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 analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $79.90 million. Sell-side analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

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.