GeneDx Holdings Corp. $WGS Shares Acquired by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC grew its holdings in GeneDx Holdings Corp. (NASDAQ:WGS) by 28.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 586,100 shares of the company’s stock after acquiring an additional 129,000 shares during the period. GeneDx comprises approximately 5.1% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 3rd largest position. Zweig DiMenna Associates LLC’s holdings in GeneDx were worth $54,103,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Chung Wu Investment Group LLC raised its stake in shares of GeneDx by 8.2% in the second quarter. Chung Wu Investment Group LLC now owns 3,300 shares of the company’s stock valued at $305,000 after acquiring an additional 250 shares in the last quarter. GAMMA Investing LLC increased its holdings in GeneDx by 151.7% during the 1st quarter. GAMMA Investing LLC now owns 438 shares of the company’s stock worth $39,000 after purchasing an additional 264 shares during the period. Palisades Investment Partners LLC increased its holdings in GeneDx by 0.4% during the 1st quarter. Palisades Investment Partners LLC now owns 83,913 shares of the company’s stock worth $7,432,000 after purchasing an additional 309 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of GeneDx by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock worth $677,000 after buying an additional 453 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of GeneDx by 3,223.5% during the first quarter. US Bancorp DE now owns 565 shares of the company’s stock worth $50,000 after buying an additional 548 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WGS has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of GeneDx from $78.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Weiss Ratings restated a “sell (d)” rating on shares of GeneDx in a report on Wednesday, October 8th. Piper Sandler raised their price objective on shares of GeneDx from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. BTIG Research increased their target price on GeneDx from $140.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wall Street Zen lowered GeneDx from a “buy” rating to a “hold” rating in a report on Saturday. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $124.22.

Insider Activity at GeneDx

In other GeneDx news, Director Jason Ryan sold 38,072 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $127.30, for a total value of $4,846,565.60. Following the completion of the transaction, the director owned 103,284 shares in the company, valued at $13,148,053.20. This represents a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Casdin Capital, Llc sold 500,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $120.90, for a total value of $60,450,000.00. Following the completion of the sale, the director directly owned 3,007,164 shares of the company’s stock, valued at $363,566,127.60. The trade was a 14.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 556,375 shares of company stock worth $67,569,247. Insiders own 29.60% of the company’s stock.

GeneDx Stock Up 4.1%

WGS stock opened at $136.91 on Friday. The company has a current ratio of 2.71, a quick ratio of 2.70 and a debt-to-equity ratio of 0.18. GeneDx Holdings Corp. has a twelve month low of $55.17 and a twelve month high of $146.00. The company’s 50 day moving average is $124.27 and its two-hundred day moving average is $98.98. The stock has a market cap of $3.93 billion, a P/E ratio of 1,521.22 and a beta of 1.98.

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