The short report out Wednesday morning on GeneDx (WGS) by Grizzly Research alleging that the company utilizes an illegal code-stacking scheme to bill for its tests, overbilling and inflating revenue, is “misguided,” Craig-Hallum tells investors in a research note. The short report also alleges that this “scheme” leaves the company susceptible to investigations and lawsuits, but Craig-Hallum says the Grizzly report “lacks a basis of understanding” and would buy the stock on any weakness. Craig-Hallum has a Buy rating and $95 price target on GeneDx shares.
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