309,500 Shares in GeneDx Holdings Corp. (NASDAQ:WGS) Bought by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC bought a new stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 309,500 shares of the company's stock, valued at approximately $23,788,000. GeneDx accounts for approximately 1.8% of Zweig DiMenna Associates LLC's portfolio, making the stock its 14th largest holding. Zweig DiMenna Associates LLC owned 1.13% of GeneDx at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Barclays PLC lifted its position in shares of GeneDx by 346.3% during the 3rd quarter. Barclays PLC now owns 18,921 shares of the company's stock valued at $803,000 after acquiring an additional 14,681 shares during the period. Renaissance Technologies LLC acquired a new position in GeneDx during the second quarter worth $2,362,000. Chartwell Investment Partners LLC acquired a new position in GeneDx during the third quarter worth $1,722,000. Charles Schwab Investment Management Inc. raised its holdings in GeneDx by 304.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company's stock worth $6,240,000 after buying an additional 110,666 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in GeneDx during the third quarter worth $325,000. Institutional investors and hedge funds own 61.72% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WGS shares. TD Cowen upped their target price on shares of GeneDx from $75.00 to $118.00 and gave the stock a "buy" rating in a research note on Tuesday, January 7th. Wells Fargo & Company increased their price target on shares of GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their price target 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. Finally, Craig Hallum increased their price target on shares of GeneDx from $70.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, GeneDx has a consensus rating of "Moderate Buy" and an average target price of $70.67.

GeneDx Stock Performance

NASDAQ WGS traded up $1.61 during trading on Friday, hitting $79.27. 877,271 shares of the company's stock traded hands, compared to its average volume of 963,662. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -25.49 and a beta of 2.02. GeneDx Holdings Corp. has a 12-month low of $2.85 and a 12-month high of $98.87. 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 has a 50 day moving average of $77.67 and a 200-day moving average of $56.09.

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

Insider Transactions at GeneDx

In related news, major shareholder School Of Medicine At Mo Icahn sold 865,800 shares of the firm's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $75.00, for a total value of $64,935,000.00. Following the sale, the insider now directly owns 2,866,833 shares of the company's stock, valued at $215,012,475. This trade represents a 23.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jason Ryan sold 31,510 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $71.28, for a total transaction of $2,246,032.80. Following the completion of the sale, the director now directly owns 15,490 shares in the company, valued at $1,104,127.20. This represents a 67.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,229,965 shares of company stock valued at $93,006,163. 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.