Canaccord Genuity Group Boosts GeneDx (NASDAQ:WGS) Price Target to $90.00

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

A number of other research analysts have also weighed in on the stock. Guggenheim reaffirmed a “buy” rating and issued a $74.00 price objective (up from $70.00) on shares of GeneDx in a research note on Monday, June 29th. Wells Fargo & Company restated an “overweight” rating and issued a $75.00 target price (down from $155.00) on shares of GeneDx in a report on Tuesday, May 5th. Weiss Ratings cut shares of GeneDx from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. BTIG Research reiterated a “buy” rating and set a $90.00 price target on shares of GeneDx in a research note on Tuesday. Finally, Craig Hallum reissued a “buy” rating and set a $85.00 price objective on shares of GeneDx in a report on Tuesday, May 5th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, GeneDx presently has an average rating of “Moderate Buy” and a consensus price target of $89.57.

GeneDx Price Performance

Shares of NASDAQ:WGS opened at $67.86 on Tuesday. GeneDx has a twelve month low of $32.21 and a twelve month high of $170.87. The stock’s 50 day moving average is $61.08 and its 200-day moving average is $69.30. 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 firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -25.32 and a beta of 1.92.

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

Insiders Place Their Bets

In related news, CFO Kevin Feeley sold 3,729 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $60.77, for a total transaction of $226,611.33. Following the completion of the transaction, the chief financial officer owned 39,954 shares in the company, valued at approximately $2,428,004.58. This represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $60.77, for a total transaction of $638,145.77. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have purchased 2,256,420 shares of company stock valued at $93,144,340 and have sold 19,135 shares valued at $1,128,499. Company insiders own 25.17% of the company’s stock.

Institutional Investors Weigh In On GeneDx

Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in GeneDx by 30.2% during the first quarter. Royal Bank of Canada now owns 29,479 shares of the company’s stock valued at $2,611,000 after purchasing an additional 6,840 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of GeneDx by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,641 shares of the company’s stock worth $677,000 after purchasing an additional 453 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of GeneDx by 270,700.0% in the first quarter. NewEdge Advisors LLC now owns 2,708 shares of the company’s stock valued at $240,000 after purchasing an additional 2,707 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of GeneDx by 67.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,224 shares of the company’s stock valued at $2,500,000 after purchasing an additional 11,375 shares during the period. Finally, Cetera Investment Advisers purchased a new stake in shares of GeneDx during the 2nd quarter valued at approximately $249,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Trending Headlines about GeneDx

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.