Principal Financial Group Invests $604,000 in GeneDx Holdings Corp. (NASDAQ:WGS)
Principal Financial Group Inc. recently made a new investment in GeneDx Holdings Corp. by purchasing 14,240 shares of the company’s stock during the third quarter. This stake is valued at approximately $604,000, according to the most recent 13F filing with the SEC.
In addition to Principal Financial Group Inc., other hedge funds have also taken notice of GeneDx. Vanguard Group Inc. increased its position in the company by 4.2% during the first quarter. Driehaus Capital Management LLC and Assenagon Asset Management S.A. acquired new stakes, while Millennium Management LLC and Divisadero Street Capital Management LP also increased their holdings in GeneDx.
Wall Street analysts have weighed in on GeneDx, with several giving the stock positive ratings. BTIG Research, Craig Hallum, TD Cowen, Wells Fargo & Company, and The Goldman Sachs Group have all provided insights on the company. The stock currently has an average rating of “Moderate Buy” and an average target price of $59.33.
Shares of GeneDx saw a 9.2% increase, reaching $78.71 during trading hours on Friday. The company’s 1-year low was $1.41, and the high was $89.11. With a market cap of $2.16 billion, GeneDx is showing positive signs of growth.
In recent insider activity, major shareholder School of Medicine at Mo Icahn and Director Jason Ryan were involved in stock transactions. Overall, GeneDx is making waves in the investment world, attracting attention from various institutional investors and analysts alike.
