Hedge Funder Eli Casdin Is Loading up on GeneDx Shares
Key Points
Cadin Capital, a hedge fund run by Eli Casdin, acquired 690,000 shares of GeneDx in the past month. The fund has spent $32.6 million on WGS shares in recent weeks.
Casdin Capital now holds 3.7 million shares in GeneDx, making it the largest institutional shareholder of the company's stock.
Eli Casdin is a director of GeneDx, having served on the board since 2021.
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Noted investor and GeneDx board member Eli Casdin has his hedge fund, Casdin Capital, buying up shares of GeneDx Holdings (NASDAQ:WGS).
In the first few days of June, Casdin Capital bought 200,000 shares for about $11.1 million, according to a SEC Form 4 filing. The purchase comes after buying 500,000 shares in May for nearly $21.5 million, according to filings.
Transaction summary
| Metric | Value |
|---|---|
| Shares traded | 690,000 |
| Transaction value | $32.57 million |
| Post-transaction shares (direct) | 20,517 |
| Post-transaction shares (indirect) | 3,707,164 |
| Post-transaction value (direct ownership) | ~$918,000 |
Transaction value based on SEC Form 4 weighted average purchase prices reported in May and June.
Key questions
- What proportion of Casdin Capital, LLC's holdings was involved in this purchase?
May’s 500,000-share acquisition represented nearly 17% of the entity's total holdings at the time, with the majority classified as indirect ownership through fund structures. The June purchases represent about 6% of Casdin’s holdings entering the month. - How does the current transaction compare in size to Casdin Capital, LLC's historical trading activity?
This is the only purchase of this magnitude in the recent period, aligning with the maximum trade size recorded in the structured history, and capacity data indicate that prior higher-volume activity was possible when larger holdings were available. - What is the resulting ownership structure post-transaction?
After the transaction, Eli Casdin holds 20,517 shares directly and 3,859,555 shares indirectly, through Casdin Capital, LLC, with the indirect position attributable to the Casdin Partners Master Fund, L.P. and related entities, maintaining a continuing exposure to GeneDx Holdings.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close June 10, 2026) | $54.32 |
| Market capitalization | $1.57 billion |
| Revenue (TTM) | $442.68 million |
| Net income (TTM) | ($77.81 million) |
Company snapshot
- Offers AI-driven health intelligence solutions that leverage the Centrellis platform to integrate clinical and genomic data for disease and wellness insights.
- Generates revenue through data-driven healthcare services and advanced analytics, supporting precision medicine and individualized health management.
- Serves healthcare providers, payers, and research organizations seeking comprehensive genomic and clinical data solutions.
GeneDx Holdings operates at scale in the healthcare information services sector, focusing on the intersection of artificial intelligence and genomic data. The company’s strategy centers on delivering advanced, science-driven analytics to enable more precise healthcare outcomes. Its competitive edge lies in integrating multidimensional data and applying machine learning to support personalized medicine initiatives.
What this transaction means for investors
There are many reasons for an insider to sell shares in a company, some unrelated to their belief in the business’s prospects. There is only one reason for an insider to buy shares: they expect the price to go up.
The accumulation of 690,000 shares by Eli Casdin and his fund in recent weeks is a bullish sign for GeneDx, which has seen its share price tumble about 67% since hitting a five-year peak in November.
Casdin is a biotech-focused investor whose hedge fund manages about $2.8 billion in client assets, according to regulatory disclosures.
That Casdin, who has been on the board for years and presumably has excellent insight into GeneDx’s operations, is buying now suggests he sees a bargain in WGS shares.
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Brendan Coffey has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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