** Rare disease diagnostics company GeneDx WGS.O shares up ~8.9% at $92.8

** Piper Sandler initiates coverage on WGS with "overweight" rating, saying the company has a unique first-mover advantage in a fast-growing and expanding market in rare disease testing

** WGS has high penetration rates among key clinician types, including an 80% market share among genetics experts and 13% among pediatric neurologists - brokerage

** Piper Sandler sets PT at $110, implying a ~29% upside to stock's last close

** Six of seven brokerages rate the stock "buy" or higher, one "hold"; median PT is $105 - data compiled by LSEG

** Including session's moves, stock up ~20.8% YTD

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))