Connor Clark & Lunn Investment Management Ltd. Has $12.77 Million Stock Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

Connor Clark & Lunn Investment Management Ltd. grew its stake in GeneDx Holdings Corp. (NASDAQ:WGS) by 176.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 166,094 shares of the company’s stock after buying an additional 106,089 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in GeneDx were worth $12,766,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MCF Advisors LLC boosted its position in shares of 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 purchasing an additional 182 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of GeneDx during the 4th quarter valued at about $28,000. Evolution Wealth Advisors LLC bought a new stake in shares of GeneDx during the 4th quarter valued at about $202,000. Victory Capital Management Inc. bought a new stake in shares of GeneDx during the 4th quarter valued at about $209,000. Finally, Ieq Capital LLC bought a new position in GeneDx in the fourth quarter worth approximately $220,000. Institutional investors own 61.72% of the company’s stock.

GeneDx Stock Up 10.2 %

Shares of NASDAQ:WGS opened at $98.47 on Friday. GeneDx Holdings Corp. has a 52-week low of $7.72 and a 52-week high of $115.60. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. The business’s 50 day simple moving average is $84.60 and its two-hundred day simple moving average is $69.43. The firm has a market cap of $2.76 billion, a P/E ratio of -50.24 and a beta of 1.90.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on WGS. The Goldman Sachs Group increased their price target on GeneDx from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. TD Cowen increased their price target on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.33.

Insider Activity

In related news, CFO Kevin Feeley sold 35,506 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $93.82, for a total transaction of $3,331,172.92. Following the completion of the sale, the chief financial officer now directly owns 2,472 shares of the company’s stock, valued at approximately $231,923.04. This trade represents a 93.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Katherine Stueland sold 2,731 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $94.73, for a total value of $258,707.63. Following the sale, the chief executive officer now directly owns 7,752 shares of the company’s stock, valued at $734,346.96. The trade was a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,176 shares of company stock worth $11,295,519 over the last 90 days. 27.30% of the stock is currently owned by corporate insiders.

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.