Oracle Investment Management Inc. Has $28.91 Million Stake in GeneDx Holdings Corp. (NASDAQ:WGS)

Oracle Investment Management Inc. lessened its position in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,105,768 shares of the company’s stock after selling 20,839 shares during the quarter. GeneDx comprises about 27.0% of Oracle Investment Management Inc.’s investment portfolio, making the stock its largest position. Oracle Investment Management Inc. owned approximately 4.23% of GeneDx worth $28,905,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in WGS. Acadian Asset Management LLC acquired a new stake in GeneDx during the 2nd quarter worth $34,000. nVerses Capital LLC acquired a new stake in shares of GeneDx during the second quarter worth $50,000. Thompson Davis & CO. Inc. increased its holdings in GeneDx by 20.8% in the first quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock valued at $220,000 after purchasing an additional 4,150 shares during the last quarter. Decheng Capital LLC acquired a new position in GeneDx in the fourth quarter valued at about $285,000. Finally, American Century Companies Inc. boosted its holdings in GeneDx by 36.1% during the second quarter. American Century Companies Inc. now owns 17,258 shares of the company’s stock worth $451,000 after buying an additional 4,573 shares during the last quarter. Institutional investors own 61.72% of the company’s stock.

GeneDx Trading Down 0.7 %

Shares of NASDAQ:WGS opened at $40.13 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.38 and a quick ratio of 2.22. The company’s 50-day moving average price is $33.75 and its two-hundred day moving average price is $24.03. The stock has a market capitalization of $1.05 billion, a PE ratio of -7.75 and a beta of 2.29. GeneDx Holdings Corp. has a one year low of $1.16 and a one year high of $43.32.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.15. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. The firm had revenue of $70.51 million during the quarter, compared to the consensus estimate of $58.90 million. On average, equities analysts forecast that GeneDx Holdings Corp. will post -0.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on WGS. Craig Hallum upped their price target on GeneDx from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BTIG Research upped their target price on shares of GeneDx from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group lifted their price target on shares of GeneDx from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Wells Fargo & Company began coverage on shares of GeneDx in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $34.00 price objective for the company. Finally, TD Cowen raised their price objective on GeneDx from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $38.00.

Insider Buying and Selling at GeneDx

In other news, CEO Katherine Stueland sold 2,154 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $33.54, for a total transaction of $72,245.16. Following the transaction, the chief executive officer now directly owns 92,550 shares in the company, valued at approximately $3,104,127. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Katherine Stueland sold 2,154 shares of GeneDx stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $33.54, for a total transaction of $72,245.16. Following the completion of the transaction, the chief executive officer now directly owns 92,550 shares in the company, valued at approximately $3,104,127. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Opko Health, Inc. sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $34.49, for a total value of $1,724,500.00. Following the transaction, the insider now directly owns 2,646,972 shares in the company, valued at $91,294,064.28. The disclosure for this sale can be found here. Insiders sold a total of 743,868 shares of company stock worth $24,114,996 over the last quarter. 28.10% of the stock is currently owned by insiders.

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.