Portnoy Law Firm Announces Class Action on Behalf of GeneDX Holdings, Corp. Investors

The Portnoy Law Firm advises GeneDX Holdings, Corp., (“GeneDX” or the "Company") (NASDAQ: WGS) investors of a class action on behalf of investors that bought securities between April 16, 2025 and May 4, 2026, inclusive (the “Class Period”). GeneDX investors have until August 3, 2026 to file a lead plaintiff motion. Investors are encouraged to contact attorney Lesley F. Portnoy , by phone 310-692-8883 or email : [email protected] , to discuss their legal rights, or join the case via https://portnoylaw.com/genedx-holdings-corp . The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Company may have misled investors about the importance of Fabric Genomics; (2) as a result, the Company's margins would suffer; (3) the company's average reimbursement rates were not as "durable" as previously disclosed; (4) as a result of the foregoing, the Company's gross margins would decline; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.

On May 4, 2026, the price of the Company's shares closed at $67.93. After hours, the Company disclosed that its Q1 financial results had missed for both its exome and genome lines, and cut its 2026 guidance from $540-555 million to $475-490 million. During the related earnings call, the Company disclosed that the average reimbursement rate came in at $3,300, or $200 below expectations. It also disclosed that it had taken a goodwill impairment charge of $31.3 million as a part of the Fabric Genomics acquisition - after paying $36.5 million for the Company only a year before.

On this news, GeneDx's share price fell over 49%, or $33.42 per share, from the close on the previous day.