Palumbo Wealth Management LLC purchased a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS – Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,761 shares of the company’s stock, valued at approximately $287,000.
A number of other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in shares of GeneDx during the second quarter worth approximately $2,362,000. Millennium Management LLC boosted its stake in GeneDx by 193.5% in the second quarter. Millennium Management LLC now owns 311,401 shares of the company’s stock valued at $8,140,000 after acquiring an additional 205,318 shares during the last quarter. Algert Global LLC bought a new position in GeneDx in the second quarter valued at approximately $356,000. Calamos Advisors LLC bought a new position in shares of GeneDx during the second quarter worth $1,137,000. Finally, Point72 Asset Management L.P. boosted its position in shares of GeneDx by 227.4% during the second quarter. Point72 Asset Management L.P. now owns 156,745 shares of the company’s stock worth $4,097,000 after purchasing an additional 108,864 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors.
Insider Buying and Selling at GeneDx
In other GeneDx news, major shareholder Opko Health, Inc. sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.82, for a total value of $3,182,000.00. Following the transaction, the insider now directly owns 2,871,570 shares of the company’s stock, valued at approximately $91,373,357.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Opko Health, Inc. sold 100,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.82, for a total value of $3,182,000.00. Following the completion of the sale, the insider now owns 2,871,570 shares in the company, valued at $91,373,357.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Katherine Stueland sold 3,639 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.33, for a total transaction of $121,287.87. Following the completion of the sale, the chief executive officer now owns 95,457 shares of the company’s stock, valued at approximately $3,181,581.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 267,401 shares of company stock valued at $8,794,447. Corporate insiders own 27.30% of the company’s stock.
GeneDx Trading Down 3.7 %
GeneDx (NASDAQ:WGS – Get Free Report) last issued its earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.15. GeneDx had a negative net margin of 48.21% and a negative return on equity of 22.71%. The business had revenue of $70.51 million for the quarter, compared to analyst estimates of $58.90 million. On average, research analysts expect that GeneDx Holdings Corp. will post -0.75 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the stock. TD Cowen boosted their price objective on shares of GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum lifted their target price on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday. BTIG Research boosted their price objective on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company upped their price target on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, The Goldman Sachs Group upped their price target on shares of GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.33.
View Our Latest Analysis on WGS
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.
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