Wells Fargo notes that shares of GeneDx (WGS) are trading lower after a short report was published this morning by Grizzly Research, adding that it views the selloff as “overdone” as the firm believes most or all of the claims raised in the report are “either false, misplaced, and/or unrelated to current” operations. Most of the claims are actually related to the legacy Sema4 operations, which were effectively shuttered shortly after GeneDx merged with Sema4 in 2022 and “not relevant to current operations,” the analyst tells investors. Wells has an Equal Weight rating and $75 price target on GeneDx shares.
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