New York, May 24, 2026, 12:04 (EDT)
GeneDx Holdings Corp. finished the week with a jump, but the stock hasn’t made up all of its losses. Shares on the Nasdaq ended Friday at $47.31, climbing about 16% since last Friday. They’re still sitting roughly 30% below the May 4 close, before shares fell after earnings. A Schedule 13D/A filing came late Friday, showing major holders Eli Casdin and Keith Meister still in the picture after a tough month for GeneDx.
US markets are closed Monday for Memorial Day, so investors won’t get to react until Tuesday. That’s when the filings, the bounce, and the trimmed 2026 guidance will all hit the tape together.
Casdin-linked entities picked up 500,000 GeneDx Class A shares on the open market over May 18 to May 20, a Form 4 filing shows. The shares came at weighted averages of $42.5517, $42.5964, and $43.8061. That pushes the fund’s indirect stake to 3.5 million shares.
The May 22 Schedule 13D/A filing lists Eli Casdin at 13.7% beneficial ownership, with Keith Meister at 17.9%. Both percentages use the 29.69 million shares outstanding reported May 1. Beneficial ownership refers to holding the economic or voting interest, even when shares are registered to another name.
Prosight Management disclosed in a May 15 SEC 13F filing that it held 523,463 Class A shares of GeneDx, worth $33.6 million at the end of March. The quarterly report adds another piece to the GeneDx shareholder picture.
GeneDx holders stepped in after the company cut guidance. The first quarter came in with revenue of $102.3 million. Exome and genome test revenue rose 27% and test volume increased 34%. These tests cover most or all of a patient’s genetic code to aid in diagnosing disease. Adjusted net loss was $8.2 million. GeneDx lowered its full-year revenue target to $475 million to $490 million, down from a prior range of $540 million to $555 million.
Chief Executive Katherine Stueland said in the company’s results release that the quarter had “sustained, strong demand,” but also that revenue didn’t reflect the business’s full potential. On the earnings call, Stueland put total revenue “$12 million lower than expected.” Chief Financial Officer Kevin Feeley pointed to product mix as the main drag on average reimbursement rate, or ARR — not lower contracted prices. The Motley Fool
Canaccord Genuity’s Kyle Mikson called the sales miss “alarming” and cut his price target on the stock to $75 from $100, but still said the shares looked undervalued, Investors reported. Analysts remain divided between a growth story and what some call a reset for the company.
GeneDx trades against some bigger names. Natera ended Friday at $203.19, putting its market cap near $28.75 billion. Guardant Health finished at $118.95 for about $15.61 billion, and Tempus AI closed at $46.18 for $8.26 billion. By comparison, GeneDx’s market cap was around $1.39 billion. Filings or news on reimbursement can move the stock more than for its larger peers.
GeneDx hasn’t issued any new operating update on its investor-relations page since posting first-quarter results on May 4. The most recent event listed there is also the May 4 earnings call. Now, with no fresh updates, traders are looking at the week ahead to see if the May rebound in the stock holds, or if it was just a short-term bounce following the 49% plunge on May 5.
But there’s still risk. If outpatient genome tests outpace payer coverage, GeneDx could sell more tests but get paid less per test. MarketBeat’s call summary said outpatient genome volume made up around 40% of first-quarter outpatient orders, with genome reimbursement at about half the level for exome. Non-core business—like Fabric and biopharma/data—also fell short, so investors will stay focused on guidance.
GeneDx heads into Tuesday’s trade with the big-holder disclosures out of the way, setting up a clearer read than Friday’s finish. The issue for the stock is the same: can GeneDx translate steady testing demand into steady revenue and adjusted profits, especially after it cut 2026 goals.
