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

Oracle Investment Management Inc. decreased its holdings in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 13.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 889,954 shares of the company’s stock after selling 132,500 shares during the quarter. GeneDx accounts for approximately 59.9% of Oracle Investment Management Inc.’s investment portfolio, making the stock its largest position. Oracle Investment Management Inc. owned 3.08% of GeneDx worth $95,884,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of GeneDx by 5.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,702 shares of the company’s stock valued at $399,000 after purchasing an additional 181 shares in the last quarter. Jones Financial Companies Lllp increased its position in GeneDx by 664.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 214 shares of the company’s stock worth $25,000 after purchasing an additional 186 shares in the last quarter. Quarry LP increased its position in GeneDx by 248.8% during the 3rd quarter. Quarry LP now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 209 shares in the last quarter. Chung Wu Investment Group LLC lifted its stake in GeneDx by 9.1% in the 3rd quarter. Chung Wu Investment Group LLC now owns 3,600 shares of the company’s stock valued at $388,000 after purchasing an additional 300 shares during the last quarter. Finally, Kovack Advisors Inc. lifted its stake in GeneDx by 14.3% in the 3rd quarter. Kovack Advisors Inc. now owns 2,868 shares of the company’s stock valued at $309,000 after purchasing an additional 358 shares during the last quarter. Institutional investors own 61.72% of the company’s stock.

GeneDx Trading Down 0.8%

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

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

Insider Buying and Selling

In related news, Director Keith A. Meister purchased 140,026 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was bought at an average price of $81.19 per share, with a total value of $11,368,710.94. Following the completion of the purchase, the director owned 3,228,150 shares in the company, valued at approximately $262,093,498.50. This represents a 4.53% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Katherine Stueland sold 25,459 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $78.61, for a total value of $2,001,331.99. Following the transaction, the chief executive officer owned 38,683 shares of the company’s stock, valued at $3,040,870.63. This trade represents a 39.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 65,875 shares of company stock valued at $5,280,990 in the last quarter. 29.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $130.00 target price (down from $160.00) on shares of GeneDx in a research note on Tuesday, February 24th. BTIG Research dropped their price target on GeneDx from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Wall Street Zen downgraded GeneDx from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Canaccord Genuity Group boosted their price objective on GeneDx from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of GeneDx in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.