Science & Technology Partners L.P. Makes New Investment in GeneDx Holdings Corp. (NASDAQ:WGS)

Science & Technology Partners L.P. purchased a new stake in GeneDx Holdings Corp. (NASDAQ:WGS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 401,000 shares of the company’s stock, valued at approximately $30,821,000. GeneDx comprises approximately 9.4% of Science & Technology Partners L.P.’s portfolio, making the stock its largest holding. Science & Technology Partners L.P. owned 1.46% of GeneDx as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of WGS. Vanguard Group Inc. increased its holdings in GeneDx by 18.5% in the fourth quarter. Vanguard Group Inc. now owns 1,006,210 shares of the company’s stock valued at $77,337,000 after purchasing an additional 156,768 shares during the period. William Blair Investment Management LLC bought a new position in shares of GeneDx during the fourth quarter worth about $51,496,000. Geode Capital Management LLC lifted its stake in shares of GeneDx by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 382,350 shares of the company’s stock worth $29,396,000 after acquiring an additional 4,719 shares during the period. State Street Corp boosted its holdings in GeneDx by 18.3% in the third quarter. State Street Corp now owns 314,914 shares of the company’s stock valued at $13,365,000 after acquiring an additional 48,735 shares during the last quarter. Finally, Next Century Growth Investors LLC increased its position in GeneDx by 121.1% during the 4th quarter. Next Century Growth Investors LLC now owns 312,014 shares of the company’s stock valued at $23,981,000 after purchasing an additional 170,901 shares during the period. Institutional investors and hedge funds own 61.72% of the company’s stock.

GeneDx Price Performance

Shares of NASDAQ WGS opened at $105.69 on Thursday. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $95.15 and its 200-day moving average price is $80.85. The firm has a market capitalization of $2.97 billion, a P/E ratio of -53.92 and a beta of 1.93. GeneDx Holdings Corp. has a 1-year low of $10.70 and a 1-year high of $115.60.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.66. The business had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. GeneDx had a positive return on equity of 3.33% and a negative net margin of 17.12%. Equities research analysts anticipate that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WGS has been the topic of a number of recent analyst reports. TD Cowen boosted their price target on shares of GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group boosted their target price on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, GeneDx presently has a consensus rating of “Moderate Buy” and an average target price of $72.33.

Insider Transactions at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 922 shares of GeneDx stock in a transaction on Monday, March 10th. The shares were sold at an average price of $94.72, for a total transaction of $87,331.84. Following the transaction, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Katherine Stueland sold 46,594 shares of the stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $89.62, for a total transaction of $4,175,754.28. Following the completion of the sale, the chief executive officer now owns 1,720 shares of the company’s stock, valued at approximately $154,146.40. This represents a 96.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 138,780 shares of company stock valued at $12,907,437 over the last three months. Corporate insiders own 27.30% of the company’s stock.

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.