Canaccord Genuity Group Issues Positive Forecast for GeneDx (NASDAQ:WGS) Stock Price

GeneDx (NASDAQ:WGS) had its price target hoisted by research analysts at Canaccord Genuity Group from $75.00 to $90.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 32.63% from the company’s previous close.

Other research analysts have also issued research reports about the stock. TD Cowen reiterated a “buy” rating on shares of GeneDx in a report on Wednesday, July 15th. Weiss Ratings lowered shares of GeneDx from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Zacks Research upgraded shares of GeneDx from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Wall Street Zen downgraded shares of GeneDx from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Piper Sandler reiterated an “overweight” rating and set a $63.00 price target (up from $50.00) on shares of GeneDx in a report on Tuesday, June 23rd. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.57.

GeneDx Trading Up 4.2%

Shares of WGS stock opened at $67.86 on Tuesday. The firm has a market capitalization of $2.01 billion, a P/E ratio of -25.32 and a beta of 1.92. GeneDx has a twelve month low of $32.21 and a twelve month high of $170.87. 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 stock’s fifty day simple moving average is $61.08 and its 200 day simple moving average is $69.30.

GeneDx (NASDAQ:WGS) last posted its earnings results on Monday, August 3rd. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.19) by $0.20. GeneDx had a positive return on equity of 9.15% and a negative net margin of 17.58%.The firm had revenue of $114.44 million during the quarter, compared to the consensus estimate of $111.01 million. During the same period last year, the company earned $0.36 earnings per share. As a group, sell-side analysts predict that GeneDx will post -1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Casdin Capital, Llc bought 185,000 shares of GeneDx stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $42.60 per share, for a total transaction of $7,881,000.00. Following the completion of the acquisition, the director directly owned 3,367,164 shares of the company’s stock, valued at approximately $143,441,186.40. The trade was a 5.81% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Keith A. Meister bought 533,758 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were purchased at an average cost of $37.86 per share, with a total value of $20,208,077.88. Following the transaction, the director directly owned 3,761,908 shares in the company, valued at approximately $142,425,836.88. This trade represents a 16.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 2,256,420 shares of company stock worth $93,144,340 and sold 19,135 shares worth $1,128,499. 25.17% of the stock is owned by insiders.

Institutional Investors Weigh In On GeneDx

Several large investors have recently modified their holdings of the company. Handelsbanken Fonder AB lifted its holdings in GeneDx by 17.0% in the second quarter. Handelsbanken Fonder AB now owns 6,200 shares of the company’s stock valued at $426,000 after buying an additional 900 shares during the period. Assenagon Asset Management S.A. boosted its position in GeneDx by 219.0% during the second quarter. Assenagon Asset Management S.A. now owns 303,433 shares of the company’s stock valued at $20,831,000 after acquiring an additional 208,305 shares during the last quarter. Bank of America Corp DE grew its holdings in GeneDx by 77.5% during the 1st quarter. Bank of America Corp DE now owns 234,606 shares of the company’s stock worth $15,066,000 after acquiring an additional 102,456 shares during the period. California State Teachers Retirement System lifted its stake 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 buying an additional 5,951 shares during the period. 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. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Key GeneDx News

Here are the key news stories impacting GeneDx this week:

• Positive Sentiment: Quarterly results beat estimates: GeneDx reported adjusted EPS of $0.01, above the consensus estimate of a $0.19 loss, while revenue increased 11.4% year over year to $114.4 million, ahead of expectations. GeneDx quarterly earnings report
• Positive Sentiment: Full-year revenue guidance reaffirmed: Management maintained its 2026 revenue forecast of $475 million to $490 million, broadly in line with the $477.1 million analyst consensus. The company expects a meaningful improvement in collection rates beginning in the fourth quarter, which could support future revenue quality and cash generation. GeneDx reaffirms 2026 revenue guidance
• Positive Sentiment: Gross profit increased: Gross profit rose approximately 10% to $78.2 million, indicating that GeneDx continues to expand its top line despite a challenging profitability environment. GeneDx second-quarter financial results
• Neutral Sentiment: Investor positioning is mixed: Recent institutional filings showed both sizable additions and reductions in WGS positions. Reported insider activity was also mixed, with large purchases by certain investors alongside sales by company executives, offering no clear signal about near-term sentiment.
• Negative Sentiment: Profitability and cash flow remain weak: GeneDx posted a $17.5 million operating loss, a $17.7 million net loss, and $29 million in operating cash outflow. Losses worsened from the prior year, while cash stood at $60.3 million and total liabilities reached $237.3 million. GeneDx Q2 losses and cash flow report
• Negative Sentiment: Securities litigation adds risk: Several law firms publicized a class-action lawsuit alleging securities-law violations related to purchases made between April 16, 2025, and May 4, 2026. The allegations are not proven, but the litigation could create financial, reputational, and management risks. GeneDx securities class action announcement

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.