SG Americas Securities LLC, an institutional investor, has purchased 4,667 shares of GeneDx Holdings Corp. (NASDAQ:WGS) in the third quarter, according to HoldingsChannel.com. The value of the acquired shares is estimated to be approximately $198,000. Other major investors, including Acadian Asset Management LLC, nVerses Capital LLC, Thompson Davis & CO. Inc., The Manufacturers Life Insurance Company, and Algert Global LLC, have also recently increased their stakes in GeneDx.
GeneDx Holdings Corp., a genomics-related diagnostic and information services provider, has seen its stock trading down 0.7% at an opening price of $57.79 on Wednesday. The company’s stock has a 52-week low of $1.16 and a 52-week high of $61.96. With a market capitalization of $1.51 billion, GeneDx has a debt-to-equity ratio of 0.27 and a beta of 2.32. The stock has a 50-day simple moving average of $41.34 and a 200-day simple moving average of $29.89.
In terms of insider trading, CFO Kevin Feeley sold 895 shares of GeneDx stock on September 9th at an average price of $33.33, resulting in a total transaction value of $29,830.35. Following this sale, Feeley now owns 39,910 shares in the company, valued at $1,330,200.30. Additionally, major shareholder Opko Health, Inc. sold 60,000 shares of GeneDx stock on July 26th at an average price of $33.85, with insider ownership now amounting to 3,123,403 shares valued at approximately $105,727,191.55. Insiders have collectively sold 468,668 shares of GeneDx stock worth $15,575,988 over the past three months, representing 28.10% of the company’s stock.
Several equities analysts have recently provided their opinions on GeneDx. The Goldman Sachs Group raised their price objective from $32.00 to $54.00 and assigned a “neutral” rating to the company. TD Cowen raised their price objective from $46.00 to $50.00 and gave GeneDx a “buy” rating. Craig Hallum also raised their price objective from $43.00 to $46.00, while BTIG Research increased their target price to $45.00. Wells Fargo & Company initiated coverage on GeneDx with an “equal weight” rating and a $34.00 price objective.