Oracle Investment Management Inc. Sells 132,500 Shares of GeneDx Holdings Corp. $WGS

Oracle Investment Management Inc. reduced its position in GeneDx Holdings Corp. (NASDAQ:WGS) by 13.0% during the third quarter, HoldingsChannel reports. The firm owned 889,954 shares of the company’s stock after selling 132,500 shares during the period. GeneDx comprises approximately 59.9% of Oracle Investment Management Inc.’s portfolio, making the stock its largest holding. Oracle Investment Management Inc.’s holdings in GeneDx were worth $95,884,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. ARK Investment Management LLC acquired a new stake in GeneDx during the 3rd quarter worth about $48,157,000. Westfield Capital Management Co. LP raised its position in shares of GeneDx by 164.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 589,188 shares of the company’s stock worth $54,388,000 after acquiring an additional 366,711 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of GeneDx by 101.9% in the 3rd quarter. Franklin Resources Inc. now owns 681,381 shares of the company’s stock valued at $73,412,000 after purchasing an additional 343,954 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of GeneDx during the 3rd quarter valued at about $31,488,000. Finally, Amova Asset Management Americas Inc. bought a new stake in shares of GeneDx during the 3rd quarter valued at about $31,444,000. Institutional investors own 61.72% of the company’s stock.

GeneDx Stock Down 0.8%

WGS stock opened at $75.50 on Wednesday. The stock’s 50 day simple moving average is $93.95 and its 200 day simple moving average is $120.00. The company has a market cap of $2.21 billion, a P/E ratio of -100.67 and a beta of 2.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.34 and a current ratio of 2.46. GeneDx Holdings Corp. has a fifty-two week low of $55.17 and a fifty-two week high of $170.87.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The firm had revenue of $120.99 million during the quarter, compared to analysts’ expectations of $120.80 million. GeneDx had a positive return on equity of 14.73% and a negative net margin of 4.92%. On average, research analysts expect that GeneDx Holdings Corp. will post 0.97 earnings per share for the current fiscal year.

Insider Transactions at GeneDx

In other GeneDx news, CFO Kevin Feeley sold 6,187 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $78.61, for a total transaction of $486,360.07. Following the completion of the sale, the chief financial officer owned 18,674 shares in the company, valued at approximately $1,467,963.14. The trade was a 24.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Keith A. Meister acquired 140,026 shares of the stock in a transaction on Thursday, March 5th. The shares were acquired at an average price of $81.19 per share, for a total transaction of $11,368,710.94. Following the acquisition, the director owned 3,228,150 shares of the company’s stock, valued at approximately $262,093,498.50. The trade was a 4.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 65,875 shares of company stock valued at $5,280,990 in the last 90 days. 29.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. BTIG Research dropped their price target on GeneDx from $200.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Jefferies Financial Group set a $150.00 price objective on shares of GeneDx in a research note on Monday, February 23rd. Zacks Research upgraded shares of GeneDx from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 25th. Wells Fargo & Company raised shares of GeneDx from an “equal weight” rating to an “overweight” rating and set a $155.00 target price on the stock in a research note on Monday, February 9th. Finally, Canaccord Genuity Group raised their price target on shares of GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, GeneDx currently has a consensus rating of “Moderate Buy” and an average price target of $150.71.

GeneDx Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.