BTIG lowered the firm's price target on GeneDx to $90 from $170 and keeps a Buy rating on the shares after its worth and expected Q1 results on guidance cut. The firm has also removed its "Top Picks" designation for the stock. The key source of the lowered 2026 revenue guide was on a higher mix of genomes vs. management expectations, as genome reimbursement is nascent vs. exomes, and the firm states that this print is disappointing given its prior concerns that GeneDx guided far above the Street to start the year, only to cut the guide by 12% four months later, the analyst tells investors in a research note.
