GeneDx Holdings Corp. (WGS) experienced a severe 24-hour plunge of 42.96%, with the sharp decline occurring prominently in post-market trading following the release of its first-quarter 2026 financial results.
The rare disease genomics firm reported Q1 revenue of $102.3 million, which represented a 17% year-over-year increase but fell short of analyst consensus estimates of approximately $112-113 million. Furthermore, the company's adjusted loss per share of $0.28 significantly missed the expected loss of $0.01, while it reported a GAAP net loss of $63.3 million for the quarter.
Investor sentiment was heavily impacted by management's decision to substantially lower its full-year 2026 revenue guidance. The company now expects revenue in the range of $475 million to $490 million, a sharp reduction from the previous outlook of $540 million to $555 million. In response to the disappointing results and revised forecast, several analysts cut their price targets on the stock, including Guggenheim (to $70 from $100), Jefferies (to $100 from $150), and Canaccord Genuity (to $75 from $100).
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