GeneDx initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of GeneDx (WGS) with an Overweight rating and $110 price target The firm views the company as a “fast grower in the under-penetrated” rare disease testing market. GeneDx has a “unique first-mover advantage” in rare disease testing and is at the beginning of profitability, the analyst tells investors in a research note. Piper sees a compelling entry point at current share levels.