Zweig DiMenna Associates LLC Buys 129,000 Shares of GeneDx Holdings Corp. $WGS

Zweig DiMenna Associates LLC lifted its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 28.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 586,100 shares of the company’s stock after purchasing an additional 129,000 shares during the period. GeneDx accounts for about 5.1% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 3rd largest holding. Zweig DiMenna Associates LLC owned approximately 2.05% of GeneDx worth $54,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in GeneDx by 151.7% during the first quarter. GAMMA Investing LLC now owns 438 shares of the company’s stock worth $39,000 after buying an additional 264 shares in the last quarter. US Bancorp DE increased its stake in shares of GeneDx by 3,223.5% in the 1st quarter. US Bancorp DE now owns 565 shares of the company’s stock worth $50,000 after acquiring an additional 548 shares during the last quarter. AlphaQuest LLC increased its stake in shares of GeneDx by 351.5% in the 2nd quarter. AlphaQuest LLC now owns 763 shares of the company’s stock worth $70,000 after acquiring an additional 594 shares during the last quarter. KBC Group NV acquired a new stake in shares of GeneDx in the 1st quarter worth $81,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of GeneDx in the first quarter valued at about $132,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

GeneDx Price Performance

GeneDx stock opened at $136.91 on Friday. The company’s 50 day simple moving average is $124.27 and its 200-day simple moving average is $98.98. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 1,521.22 and a beta of 1.98. GeneDx Holdings Corp. has a 1 year low of $55.17 and a 1 year high of $146.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.70 and a current ratio of 2.71.

GeneDx (NASDAQ:WGS) last posted its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.21. GeneDx had a net margin of 0.52% and a return on equity of 20.22%. The firm had revenue of $116.74 million during the quarter, compared to the consensus estimate of $104.33 million. GeneDx has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on WGS shares. Weiss Ratings reissued a “sell (d)” rating on shares of GeneDx in a report on Wednesday, October 8th. Piper Sandler boosted their target price on shares of GeneDx from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Guggenheim reaffirmed a “buy” rating and set a $170.00 price target (up previously from $115.00) on shares of GeneDx in a research report on Wednesday. Wells Fargo & Company lifted their price target on shares of GeneDx from $78.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Finally, Zacks Research cut GeneDx from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $124.22.

Insider Transactions at GeneDx

In related news, Director Casdin Capital, Llc sold 500,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $120.90, for a total transaction of $60,450,000.00. Following the transaction, the director owned 3,007,164 shares of the company’s stock, valued at approximately $363,566,127.60. This represents a 14.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin Feeley sold 3,728 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $121.47, for a total value of $452,840.16. Following the transaction, the chief financial officer directly owned 8,755 shares in the company, valued at approximately $1,063,469.85. The trade was a 29.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 556,375 shares of company stock valued at $67,569,247. Corporate insiders own 29.60% of the company’s stock.

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.