NEW YORK, May 7, 2026 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of GeneDx Holdings Corp. ("GeneDx" or the "Company") (NASDAQ: WGS). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether GeneDx and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 4, 2026, GeneDx reported its first quarter 2026 financial results and updated its full-year outlook. Among other things, the Company disclosed total revenue of $102.3 million, exome and genome revenue of $90.6 million, and exome and genome test volume growth of 34% year-over-year. Despite this strong volume growth, GeneDx disclosed that exome and genome revenue increased only 27% year-over-year. The Company also reduced its full-year 2026 revenue guidance to $475 million to $490 million, compared to prior guidance of $540 million to $555 million, and reduced its expected growth in exome and genome revenue to at least 20%, compared to prior guidance of 33% to 35%. During the associated earnings call, GeneDx further disclosed that total revenue was approximately $12 million below expectations, including approximately $5.5 million due to a lower-than-expected blended average reimbursement rate for exome and genome testing, and approximately $6.5 million due to softer-than-expected performance from non-core business lines.
On this news, GeneDx's stock price fell $33.42 per share, or 49.20%, to close at $34.51 per share on May 5, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
