Zweig DiMenna Associates LLC Invests $23.79 Million in GeneDx Holdings Corp. (NASDAQ:WGS)

Zweig DiMenna Associates LLC acquired a new position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) during the 4th quarter, Holdings Channel.com reports. The firm acquired 309,500 shares of the company’s stock, valued at approximately $23,788,000. GeneDx accounts for about 1.8% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 14th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. MCF Advisors LLC raised its stake in shares of GeneDx by 107.7% during the fourth 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. CWM LLC acquired a new position in GeneDx during the third quarter worth about $89,000. SG Americas Securities LLC acquired a new position in GeneDx during the third quarter worth about $198,000. Evolution Wealth Advisors LLC acquired a new position in GeneDx during the fourth quarter worth about $202,000. Finally, Point72 DIFC Ltd acquired a new position in GeneDx during the third quarter worth about $220,000. 61.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. The Goldman Sachs Group lifted their target price on GeneDx from $54.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Craig Hallum lifted their price target on GeneDx from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. TD Cowen lifted their price target on GeneDx from $75.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company lifted their price target on GeneDx from $34.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, GeneDx currently has an average rating of “Moderate Buy” and a consensus target price of $70.67.

Insider Activity

In other GeneDx news, Director Jason Ryan sold 31,510 shares of GeneDx stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $71.28, for a total value of $2,246,032.80. Following the transaction, the director now directly owns 15,490 shares of the company’s stock, valued at $1,104,127.20. The trade was a 67.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Katherine Stueland sold 2,154 shares of GeneDx stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total value of $143,456.40. Following the completion of the transaction, the chief executive officer now directly owns 105,426 shares in the company, valued at approximately $7,021,371.60. This represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,229,965 shares of company stock worth $93,006,163 in the last three months. 27.30% of the stock is owned by insiders.

GeneDx Trading Up 3.5 %

Shares of NASDAQ WGS opened at $80.36 on Friday. GeneDx Holdings Corp. has a one year low of $2.85 and a one year high of $98.87. The firm has a market capitalization of $2.21 billion, a PE ratio of -25.44 and a beta of 2.02. 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 business has a 50-day moving average price of $77.67 and a two-hundred day moving average price of $56.09.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.25. The firm had revenue of $76.90 million during the quarter, compared to analyst estimates of $64.98 million. GeneDx had a negative return on equity of 13.35% and a negative net margin of 31.25%. The business’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same period last year, the company posted ($0.82) EPS. As a group, analysts predict that GeneDx Holdings Corp. will post -0.24 earnings per share for the current fiscal year.

GeneDx Company 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.