GeneDx (NASDAQ:WGS) Shares Up 7.9% – Here’s What Happened

GeneDx Holdings Corp. (NASDAQ:WGS) shares were up 7.9% on Tuesday . The stock traded as high as $62.70 and last traded at $65.3090. 220,150 shares were traded during mid-day trading, a decline of 78% from the average session volume of 992,343 shares. The stock had previously closed at $60.54.

Key GeneDx News

Here are the key news stories impacting GeneDx this week:

• Positive Sentiment: GeneDx received an average analyst rating of “Moderate Buy,” which may be helping support the stock despite continuing litigation concerns. GeneDx Receives Moderate Buy Analyst Rating
• Neutral Sentiment: Multiple law firms reminded investors that August 3, 2026 is the deadline to seek appointment as lead plaintiff in a securities class action covering purchases of WGS securities from April 16, 2025, through May 4, 2026. The notices largely repeat the same case and do not represent separate lawsuits or new operating developments. Portnoy Law Firm Class Action Notice
• Negative Sentiment: The lawsuit alleges GeneDx misled investors about the expected performance and financial impact of its Fabric Genomics acquisition. Promotional claims reportedly described Fabric as a way to create recurring, software-based revenue, while subsequent disclosures included a $31.2 million write-off and were associated with an alleged 49% stock decline. If the claims progress, GeneDx could face legal costs, settlement exposure, and additional scrutiny of its acquisition strategy and disclosures. Robbins LLP GeneDx Securities Class Action Notice

Analysts Set New Price Targets

WGS has been the subject of several analyst reports. Wells Fargo & Company reissued an “overweight” rating and set a $75.00 price target (down from $155.00) on shares of GeneDx in a report on Tuesday, May 5th. Guggenheim reaffirmed a “buy” rating and set a $74.00 price objective (up from $70.00) on shares of GeneDx in a research note on Monday, June 29th. BTIG Research dropped their price objective on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Canaccord Genuity Group set a $75.00 target price on shares of GeneDx and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen lowered GeneDx from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Seven analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.43.

GeneDx Price Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 3.09 and a quick ratio of 2.95. The company’s 50 day moving average price is $59.11 and its 200 day moving average price is $71.49. The firm has a market capitalization of $1.89 billion, a P/E ratio of -23.74 and a beta of 1.90.

GeneDx (NASDAQ:WGS) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.22). The company had revenue of $102.25 million during the quarter, compared to the consensus estimate of $112.46 million. GeneDx had a positive return on equity of 9.15% and a negative net margin of 17.58%.During the same quarter last year, the firm earned ($0.23) EPS. As a group, sell-side analysts anticipate that GeneDx Holdings Corp. will post -1 EPS for the current fiscal year.

Insider Transactions at GeneDx

In other news, CFO Kevin Feeley sold 3,729 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.77, for a total transaction of $226,611.33. Following the transaction, the chief financial officer owned 39,954 shares of the company’s stock, valued at $2,428,004.58. This represents a 8.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Katherine Stueland sold 10,501 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $60.77, for a total value of $638,145.77. Following the sale, the chief executive officer directly owned 104,372 shares of the company’s stock, valued at $6,342,686.44. This represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have purchased 2,256,420 shares of company stock worth $93,144,340 and have sold 21,699 shares worth $1,295,646. 25.17% of the stock is owned by insiders.

Institutional Trading of GeneDx

Several institutional investors and hedge funds have recently made changes to their positions in WGS. Handelsbanken Fonder AB lifted its stake in shares of GeneDx by 17.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 6,200 shares of the company’s stock valued at $426,000 after purchasing an additional 900 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of GeneDx by 219.0% during the second quarter. Assenagon Asset Management S.A. now owns 303,433 shares of the company’s stock worth $20,831,000 after purchasing an additional 208,305 shares during the period. Bank of America Corp DE increased its holdings in GeneDx by 77.5% in the first quarter. Bank of America Corp DE now owns 234,606 shares of the company’s stock valued at $15,066,000 after purchasing an additional 102,456 shares during the last quarter. California State Teachers Retirement System increased its holdings in GeneDx by 31.2% in the first quarter. California State Teachers Retirement System now owns 25,045 shares of the company’s stock valued at $1,608,000 after purchasing an additional 5,951 shares during the last quarter. Finally, Ashford Capital Management Inc. lifted its stake in GeneDx by 31.9% in the first quarter. Ashford Capital Management Inc. now owns 174,512 shares of the company’s stock valued at $11,207,000 after buying an additional 42,186 shares during the period. Institutional investors own 61.72% of the company’s stock.

About GeneDx

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.