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

Virtu Financial LLC purchased a new position in GeneDx Holdings Corp. (NASDAQ:WGS) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,622 shares of the company’s stock, valued at approximately $321,000.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of GeneDx by 2.5% in the first quarter. Vanguard Group Inc. now owns 1,031,326 shares of the company’s stock worth $91,339,000 after purchasing an additional 25,116 shares during the period. Summit Partners Public Asset Management LLC boosted its position in shares of 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 purchasing an additional 582,619 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of GeneDx in the fourth quarter worth approximately $48,458,000. Fred Alger Management LLC boosted its position in shares of 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 purchasing an additional 151,824 shares during the period. Finally, Zweig DiMenna Associates LLC boosted its position in shares of 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 purchasing an additional 147,600 shares during the period. 61.72% of the stock is currently owned by institutional investors.

GeneDx Price Performance

GeneDx stock opened at $122.88 on Friday. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 2,457.60 and a beta of 2.02. The firm’s fifty day moving average is $87.30 and its 200 day moving average is $85.33. 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 Holdings Corp. has a 52-week low of $28.86 and a 52-week high of $123.81.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.40. The company had revenue of $102.69 million for the quarter, compared to the consensus estimate of $86.00 million. GeneDx had a net margin of 0.39% and a return on equity of 16.51%. Sell-side analysts forecast that GeneDx Holdings Corp. will post 0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Kevin Feeley sold 388 shares of the company’s stock in a transaction 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 represents a 9.36% 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, CEO Katherine Stueland sold 2,154 shares of the company’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,411 shares of company stock worth $2,085,051. 29.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WGS has been the topic of several research analyst reports. Guggenheim reissued a “buy” rating and issued a $115.00 target price (up previously from $88.00) on shares of GeneDx in a report on Monday, June 30th. 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 report on Thursday, May 1st. Wells Fargo & Company boosted 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, Piper Sandler set a $120.00 target price on shares of GeneDx and gave the stock an “overweight” rating in a report on Monday, August 4th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.63.

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.