GeneDx (NASDAQ:WGS) Shares Down 7.6% – What’s Next?

Shares of GeneDx Holdings Corp. (NASDAQ:WGS) were down 7.6% on Wednesday . The company traded as low as $56.77 and last traded at $55.9990. Approximately 603,174 shares traded hands during trading, a decline of 42% from the average daily volume of 1,043,503 shares. The stock had previously closed at $60.60.

More GeneDx News

Here are the key news stories impacting GeneDx this week:

• Negative Sentiment: Multiple law firms issued fresh alerts on June 16-17 reminding shareholders of the August 3, 2026 lead-plaintiff deadline in an already-filed securities class action covering purchases made between April 16, 2025 and May 4, 2026. Article Title
• Negative Sentiment: The lawsuits center on alleged misrepresentations tied to reimbursement weakness and underperformance at Fabric Genomics, which could increase legal, reputational, and settlement risk for GeneDx. Article Title
• Negative Sentiment: Several notices also reference a large share-price drop and a disappointing Q1 2026 report, reinforcing concerns that the market is still digesting weak earnings and the fallout from the Fabric Genomics acquisition. Article Title
• Neutral Sentiment: GeneDx also named Mark Gardner president to lead its next phase of scale and growth, which is a strategic leadership move but is currently being overshadowed by the litigation headlines.

Analyst Ratings Changes

A number of analysts have commented on WGS shares. BTIG Research reduced their price objective on GeneDx from $170.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Craig Hallum restated a “buy” rating and set a $85.00 price objective on shares of GeneDx in a research report on Tuesday, May 5th. Wells Fargo & Company restated an “overweight” rating and issued a $75.00 target price (down from $155.00) on shares of GeneDx in a research note on Tuesday, May 5th. Zacks Research cut GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Finally, Piper Sandler reiterated an “overweight” rating and set a $130.00 price target (down from $160.00) on shares of GeneDx in a research note on Tuesday, February 24th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.43.

GeneDx Price Performance

The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -21.05 and a beta of 1.96. The company has a quick ratio of 2.95, a current ratio of 3.09 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average is $54.74 and its 200-day moving average is $88.21.

GeneDx (NASDAQ:WGS) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). GeneDx had a negative net margin of 17.58% and a positive return on equity of 9.15%. The company had revenue of $102.25 million for the quarter, compared to analyst estimates of $112.46 million. During the same period in the previous year, the firm posted ($0.23) earnings per share. Equities research analysts expect that GeneDx Holdings Corp. will post -1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Casdin Capital, Llc purchased 50,000 shares of the stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of $52.86 per share, for a total transaction of $2,643,000.00. Following the completion of the transaction, the director directly owned 3,707,164 shares of the company’s stock, valued at approximately $195,960,689.04. The trade was a 1.37% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Meister acquired 46,273 shares of the company’s stock in a transaction on Friday, May 15th. The shares were bought at an average price of $38.91 per share, with a total value of $1,800,482.43. Following the completion of the purchase, the director directly owned 4,784,570 shares of the company’s stock, valued at approximately $186,167,618.70. This represents a 0.98% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 2,256,420 shares of company stock worth $93,144,340 and sold 54,402 shares worth $3,395,647. 25.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GeneDx

Institutional investors have recently added to or reduced their stakes in the company. ARK Investment Management LLC bought a new stake in GeneDx during the third quarter worth about $48,157,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of GeneDx by 30.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 381,725 shares of the company’s stock worth $49,647,000 after buying an additional 89,470 shares in the last quarter. Telemark Asset Management LLC bought a new position in shares of GeneDx in the third quarter valued at approximately $12,929,000. SG Americas Securities LLC boosted its holdings in shares of GeneDx by 937.3% in the 4th quarter. SG Americas Securities LLC now owns 63,181 shares of the company’s stock worth $8,217,000 after acquiring an additional 57,090 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of GeneDx by 1,358.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 205,895 shares of the company’s stock worth $26,779,000 after acquiring an additional 191,780 shares in the last quarter. 61.72% of the stock is owned by institutional investors.

GeneDx Company 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.