Zweig DiMenna Associates LLC Acquires Shares of 309,500 GeneDx Holdings Corp. (NASDAQ:WGS)

Zweig DiMenna Associates LLC purchased a new position in GeneDx Holdings Corp. (NASDAQ:WGS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 309,500 shares of the company’s stock, valued at approximately $23,788,000. GeneDx makes up about 1.8% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 14th biggest holding. Zweig DiMenna Associates LLC owned approximately 1.13% of GeneDx at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in shares of GeneDx by 346.3% during the third quarter. Barclays PLC now owns 18,921 shares of the company’s stock worth $803,000 after buying an additional 14,681 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of GeneDx in the second quarter valued at about $2,362,000. Chartwell Investment Partners LLC purchased a new stake in shares of GeneDx in the third quarter valued at about $1,722,000. Charles Schwab Investment Management Inc. grew its holdings in shares of GeneDx by 304.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company’s stock valued at $6,240,000 after purchasing an additional 110,666 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of GeneDx in the third quarter valued at about $325,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on WGS. The Goldman Sachs Group upped their target price on shares of GeneDx from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Craig Hallum lifted their price target on shares of GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price target on shares of GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, TD Cowen boosted their price objective 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.67.

Insider Buying and Selling at GeneDx

In other news, CFO Kevin Feeley sold 35,506 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $93.82, for a total transaction of $3,331,172.92. Following the transaction, the chief financial officer now directly owns 2,472 shares in the company, valued at $231,923.04. This represents a 93.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Katherine Stueland sold 51,420 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the sale, the chief executive officer now directly owns 1,720 shares of the company’s stock, valued at approximately $162,505.60. This trade represents a 96.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,229,965 shares of company stock worth $93,006,163. Corporate insiders own 27.30% of the company’s stock.

GeneDx Stock Performance

Shares of WGS opened at $80.36 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.27 and a current ratio of 2.40. GeneDx Holdings Corp. has a 1 year low of $2.85 and a 1 year high of $98.87. The stock has a market capitalization of $2.21 billion, a P/E ratio of -25.44 and a beta of 2.02. The company’s fifty day moving average is $77.67 and its two-hundred day moving average is $56.09.

GeneDx (NASDAQ:WGS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.25. The firm had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $64.98 million. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The firm’s revenue was up 44.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.82) EPS. On average, sell-side analysts predict that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

About GeneDx

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.