In this article, we discuss 10 DNA stocks that billionaires love.

Genomics is the study of a complete set of DNA within an organism. The global genomics market was worth $28.39 billion in 2022, and it is expected to reach $98.7 billion by 2030, exhibiting a compound annual growth rate of 16.85% during the forecast period from 2022 to 2030. The growth in the global genomics market will primarily be driven by greater strides in gene targeted therapy and precision medicine. In addition to that, higher government subsidies and funding in the microbiology and genetics sector will also support growth. The cost of sequencing human genomes at present is below $1,000, which is remarkably less than a decade ago. This cost was estimated to be $1 million in 2007. This has now led to new market entrants and startups in the genomics space, propelling further innovation and growth. The amalgamation of genomics with artificial intelligence and machine learning is projected to fasten discoveries in the sector. 

The field of genomics is gaining traction all over the world. For example, India’s most famous billionaire and business magnate, Mukesh Ambani, is foraying into genetic mapping. Ambani plans to make genetic mapping more affordable and mainstream it throughout India’s rapidly growing consumer landscape. He took inspiration from American startups like 23andMe Holding Co. (NASDAQ:ME). Ambani’s goal is to make a genome sequencing test available for $145 in India. This test will be 86% less expensive as compared to the other alternatives locally available in India. The genome sequencing test indicates an individual’s inclination towards cancer, cardiovascular diseases, and neurodegenerative disorders, in addition to hereditary genetic ailments. 

Don’t Miss: 12 Gene Editing Stocks With the Best Long-Term Potential

Anne Wojcicki, the co-founder and CEO of 23andMe Holding Co. (NASDAQ:ME), was in conversation with Fortune on April 25, 2023. She pointed out a recent study by The Lancet, a peer-reviewed medical journal, which indicated that negative reactions to medications can be cut by 30% if only medications were genetically tailored to the patients. Wojcicki also noted that millions of individuals have bought and performed DNA tests, which confirms robust consumer demand. 23andMe Holding Co. (NASDAQ:ME), along with Medscape, performed a survey which concluded that two-thirds of doctors are of the opinion that genetic testing could result in improved outcomes for patients, and more than 90% of the respondents agreed that genetic testing is a crucial component in understanding one’s health status completely. 

The genomics market is rapidly growing and that leads to several attractive buying opportunities. Billionaires, never backing down from potentially profitable opportunities, are loading up on DNA stocks like Illumina, Inc. (NASDAQ:ILMN), Invitae Corporation (NYSE:NVTA), and Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) to benefit from the boom in the genomics industry. Investors can also check out 11 Most Promising Gene Editing Stocks and 12 Biggest Genomics Companies in the World. 

Our Methodology 

Insider Monkey tracks billionaire-owned stocks and in this article, we selected the DNA stocks that attracted the highest number of billionaire investors during the first quarter of 2023. We have also mentioned the overall hedge fund sentiment towards each stock as of Q1 2023. 

DNA Stocks Billionaires Are Loading Up On

10. CRISPR Therapeutics AG (NASDAQ:CRSP)

Number of Hedge Fund Holders: 22

Number of Billionaire Investors: 5

CRISPR Therapeutics AG (NASDAQ:CRSP) is Switzerland-based a gene editing company that specializes in developing gene-based medicines using its CRISPR and Cas9 platform. On May 8, CRISPR Therapeutics AG (NASDAQ:CRSP) reported a Q1 GAAP EPS of -$0.67 and a revenue of $100 million, outperforming Wall Street estimates by $0.97 and $75.67 million, respectively. 

On June 9, JMP Securities analyst Silvan Tuerkcan raised the firm’s price target on CRISPR Therapeutics AG (NASDAQ:CRSP) to $74 from $70 and maintained an Outperform rating on the shares. CRISPR and Vertex Pharmaceuticals announced that the exagamglogene autotemcel BLA was recognized by the FDA, indicating a significant milestone ahead of potential approvals, the analyst told investors in a research note. The firm believes CRISPR and Vertex have the power to create a monopoly in sickle cell disease and transfusion-dependent beta thalassemia and generate substantial sales.

According to Insider Monkey’s first quarter database, 22 hedge funds were bullish on CRISPR Therapeutics AG (NASDAQ:CRSP). The firm also was on the radar of 5 billionaire investors as of the end of March 2023, including Ken Griffin of Citadel Investment Group. 

Like Illumina, Inc. (NASDAQ:ILMN), Invitae Corporation (NYSE:NVTA), and Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), CRISPR Therapeutics AG (NASDAQ:CRSP) is one of the best DNA stocks to invest in. 

9. Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Number of Hedge Fund Holders: 29

Number of Billionaire Investors: 7

Intellia Therapeutics, Inc. (NASDAQ:NTLA) is a genome editing company engaged in the development of curative therapeutics. On May 4, the company reported a Q1 GAAP EPS of -$1.17 and a revenue of $12.6 million, outperforming Wall Street estimates by $0.21 and $0.84 million, respectively. Cash, cash equivalents, and marketable securities came in at $1.2 billion as of March 31, 2023, compared to $1.3 billion the prior quarter. It is one of the best DNA stocks to invest in. 

On June 13, BofA analyst Greg Harrison lifted the price target on Intellia Therapeutics, Inc. (NASDAQ:NTLA) to $91 from $89 and maintained a Buy rating on the shares after “an impressive update” from its phase 1 trial of NTLA-2002 in hereditary angioedema. In addition to progressively developing another business opportunity, the update offers “further validation to Intellia’s gene editing platform,” added the analyst.

According to Insider Monkey’s first quarter database, 29 hedge funds were bullish on Intellia Therapeutics, Inc. (NASDAQ:NTLA), compared to 39 funds in the prior quarter. Intellia Therapeutics, Inc. (NASDAQ:NTLA) was part of 7 billionaire portfolios in Q1, including Andreas Halvorsen’s of Viking Global. 

Carillon Tower Advisers discussed its stance on Intellia Therapeutics, Inc. (NASDAQ:NTLA) in its Q2 2021 investor letter.

“Intellia Therapeutics is a clinical-stage genome editing company focused on the development of proprietary, potentially curative therapeutics. The company’s stock soared after announcing positive interim data from an ongoing phase 1 clinical study of its in vivo gene editing candidate, which is being developed as a single-dose treatment for hereditary transthyretin (ATTR) amyloidosis. This specific form of therapy would be the first of its kind resulting in the precision editing of a gene in a target tissue in the human body.”

8. Fulgent Genetics, Inc. (NASDAQ:FLGT)

Number of Hedge Fund Holders: 14

Number of Billionaire Investors: 8

Fulgent Genetics, Inc. (NASDAQ:FLGT) provides clinical diagnostic solutions such as molecular diagnostic testing, genetic testing, and anatomic pathology laboratory tests and testing services. Fulgent Genetics, Inc. (NASDAQ:FLGT) is also involved in therapeutic development and has a targeted therapy platform. It is one of the best DNA stocks that billionaires are flocking towards. In Q1 2023, 8 billionaires were bullish on Fulgent Genetics, Inc. (NASDAQ:FLGT), including Cliff Asness of AQR Capital Management. 

On May 8, Piper Sandler raised the firm’s price target on Fulgent Genetics, Inc. (NASDAQ:FLGT) to $37 from $35 and maintained a Neutral rating on the shares following the company’s Q1 earnings results.

According to Insider Monkey’s first quarter database, 14 hedge funds held stakes worth $37.7 million in Fulgent Genetics, Inc. (NASDAQ:FLGT), compared to 17 funds in the prior quarter worth $20 million. 

Here is what Old West Investment Management has to say about Fulgent Genetics, Inc. (NASDAQ:FLGT) in its Q3 2021 investor letter:

“In our second quarter of 2020 letter, I wrote about a very promising holding of ours, Fulgent Genetics. Fulgent is a genetic testing and diagnostics company involved in one of the hottest fields in healthcare. At the time of that letter, the stock was trading at $20 per share, up from our original purchase price of $6.00. Today the stock is trading at $84, and we think it still has significant upside.

Fulgent is led by visionary entrepreneur Ming Hsieh, who previously founded Cogent, Inc in 1990 and sold the company to 3M for nearly $1 Billion. Fulgent’s genetic testing business has great potential, and they very opportunistically expanded into Covid testing in 2020. The company is growing rapidly, has a debt free balance sheet and is gushing cash flow. Although Covid testing has provided explosive growth for the company, they have not lost focus on genetic testing, having grown that portion 296% year-over-year…” (Click here to see the full text)

7. Editas Medicine, Inc. (NASDAQ:EDIT)

Number of Hedge Fund Holders: 16

Number of Billionaire Investors: 8

Editas Medicine, Inc. (NASDAQ:EDIT) is a clinical stage genome editing company that specializes in creating transformative genomic medicines by utilizing its proprietary CRISPR gene editing platform. Insider Monkey’s database tracked Editas Medicine, Inc. (NASDAQ:EDIT) in 8 billionaire portfolios at the end of March. It is one of the top DNA stocks to monitor. 

On June 12, Raymond James upgraded Editas Medicine, Inc. (NASDAQ:EDIT) to Outperform from Market Perform with a $17 price target. The data update at EHA indicates that EDIT-301 is working soundly and is “an important de-risking dataset” as EDIT-301 utilizes a novel Cas enzyme and cuts a novel site, the analyst wrote in a note to investors. It “already looks like EDIT-301 has potential to be a ‘functional cure,’ like lovo-cel and exa-cel,” and initial Hb signals point towards an exceptional data profile, the analyst added.

According to Insider Monkey’s first quarter database, 16 hedge funds were long Editas Medicine, Inc. (NASDAQ:EDIT), compared to 20 funds in the prior quarter. Billionaire David Shaw’s D E Shaw is a prominent stakeholder of the company. 

6. Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Number of Hedge Fund Holders: 32

Number of Billionaire Investors: 8

Pacific Biosciences of California, Inc. (NASDAQ:PACB) specializes in the design and production of sequencing systems to navigate advanced genetic challenges. The company offers sequencing systems, consumable products like SMRT cells, and reagent kits tailored for specific workflows, such as template preparation kits for converting DNA into SMRTbell double-stranded DNA library formats. In the first quarter of 2023, 8 billionaires held stakes in Pacific Biosciences of California, Inc. (NASDAQ:PACB), including Steve Cohen of Point72 Asset Management. 

On May 2, Pacific Biosciences of California, Inc. (NASDAQ:PACB) reported a Q1 GAAP EPS of -$0.36, falling short of Wall Street estimates by $0.03. The revenue of $38.9 million increased 17.3% year-over-year, beating market consensus by $4.52 million. 

According to Insider Monkey’s first quarter database, 32 hedge funds held stakes worth $744.4 million in Pacific Biosciences of California, Inc. (NASDAQ:PACB), compared to 25 funds in the prior quarter worth $383.5 million. 

In addition to Illumina, Inc. (NASDAQ:ILMN), Invitae Corporation (NYSE:NVTA), and Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), Pacific Biosciences of California, Inc. (NASDAQ:PACB) is one of the top DNA stocks preferred by billionaire investors. 

Jackson Square Partners made the following comment about Pacific Biosciences of California, Inc. (NASDAQ:PACB) in its Q3 2022 investor letter:

“Pacific Biosciences of California, Inc. (NASDAQ:PACB): emerging player in genomic sequencing with its highly differentiated long-read technology; poised to unlock a multi-year share shift towards long-read sequencing as new products dramatically improve throughput and cost to competitively advantaged levels.”

5. Sangamo Therapeutics, Inc. (NASDAQ:SGMO)

Number of Hedge Fund Holders: 14

Number of Billionaire Investors: 9

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) is a clinical-stage genomic medicine company that caters to serious diseases including kidney transplantation, hemophilia, sickle cell disease, and neurological disorders. On May 22, the US FDA allowed Fast Track status to be designated to Sangamo Therapeutics, Inc. (NASDAQ:SGMO)’s gene therapy, isaralgagene civaparvovec, for Fabry disease. The candidate earlier had a Orphan Drug designation and is currently in a phase 1/2 study. It is one of the best DNA stocks to watch. 

According to Insider Monkey’s first quarter database, 14 hedge funds were bullish on Sangamo Therapeutics, Inc. (NASDAQ:SGMO), and 9 of them are run by billionaire investors. Billionaire Chris Rokos’ Rokos Capital Management is the largest position holder in the company, with 6.4 million shares worth $11.4 million. 

Here is what Wasatch Ultra Growth Fund has to say about Sangamo Therapeutics, Inc. (NASDAQ:SGMO) in its Q1 2021 investor letter:

“Another weak stock in the Fund was Sangamo Therapeutics, Inc. (SGMO). Some investors may have been spooked by the resignation of Sangamo’s chief financial officer (CFO) after a tenure of less than one year. After conducting our own research, which included a conversation with the departing CFO, we believe the move was purely for personal reasons. Sangamo specializes in the treatment and cure of single-gene disorders. We remain optimistic about its future prospects, current partnerships and development pipeline— which includes gene therapy, in-vivo gene editing and ex-vivo genome medicine. (Current and future holdings are subject to risk.)”

4. Invitae Corporation (NYSE:NVTA)

Number of Hedge Fund Holders: 22

Number of Billionaire Investors: 9

Invitae Corporation (NYSE:NVTA) is a genetics company that offers genetic information to enhance healthcare in the United States, Canada, and internationally. The company offers genetic testing for hereditary cancer, precision oncology, women’s health, and rare diseases. Invitae Corporation (NYSE:NVTA) also specializes in pharmacogenomics, digital health solutions, and health data services. It is one of the most popular DNA stocks among billionaires as of Q1 2023. 

On May 9, Invitae Corporation (NYSE:NVTA) reported a Q1 non-GAAP EPS of -$0.37 and a revenue of $117.36 million, outperforming Wall Street estimates by $0.03 and $0.79 million, respectively. 

According to Insider Monkey’s first quarter database, 22 hedge funds were long Invitae Corporation (NYSE:NVTA), with collective stakes worth $81.1 million. Billionaire David Shaw’s D E Shaw is a prominent position holder in the company. 

3. Qiagen N.V. (NYSE:QGEN)

Number of Hedge Fund Holders: 26

Number of Billionaire Investors: 9

Qiagen N.V. (NYSE:QGEN) is a Netherlands-based company that provides combination kits for the analysis of gene expression, genotyping, and gene regulation instruments and technologies. It is one of the best DNA stocks to watch. Billionaires are steadily loading up on Qiagen N.V. (NYSE:QGEN). In Q1 2023, 9 billionaires were bullish on the stock, including Ray Dalio of Bridgewater Associates. 

On May 3, Qiagen N.V. (NYSE:QGEN) reported a Q1 non-GAAP EPS of $0.51 and a revenue of $485 million, outperforming Wall Street estimates by $0.05 and $6.77 million, respectively. 

According to Insider Monkey’s first quarter database, 26 hedge funds were bullish on Qiagen N.V. (NYSE:QGEN), compared to 29 funds in the earlier quarter. 

2. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Number of Hedge Fund Holders: 44

Number of Billionaire Investors: 11

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is a Massachusetts-based biotechnology company that announced in February 2023 its plans to venture into CRISPR gene editing therapy. It is one of the top DNA stocks to monitor. In Q1 2023, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) stock was found in 11 billionaire portfolios. 

On May 1, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) reported a Q1 non-GAAP EPS of $3.05, beating market estimates by $0.05. The revenue of $2.37 billion outperformed Wall Street consensus by $30 million. 

According to Insider Monkey’s first quarter database, 44 hedge funds were long Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), compared to 60 funds in the prior quarter. Billionaire Cliff Asness of AQR Capital Management is a prominent stakeholder of the company, with a position worth $180 million. 

Baron Health Care Fund made the following comment about Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in its Q1 2023 investor letter:

“Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is a leader in the treatment of cystic fibrosis (CF). Vertex has three approved and marketed drugs, each for treatment of differing subsets of CF. These drugs represent paradigm shifts for CF patients hoping to extend their lives beyond their 30s or 40s. Shares increased primarily due to underlying business fundamentals, including strong free cash flow generation that is largely unmatched in the biopharmaceutical universe. In addition to its core treatment program for CF, Vertex has a robust pipeline of drugs that is starting to become value inflecting. We are looking to Vertex’s APOL1 kidney disease program and updates on its treatment for Type 1 diabetes, in particular, to drive future upside.”

1. Illumina, Inc. (NASDAQ:ILMN)

Number of Hedge Fund Holders: 44

Number of Billionaire Investors: 13

Illumina, Inc. (NASDAQ:ILMN) designs and manufactures life science tools and solutions for the analysis of genetic variation and function. It is one of the premier DNA stocks to watch. On April 25, Illumina, Inc. (NASDAQ:ILMN) reported a Q1 non-GAAP EPS of $0.08 and a revenue of $1.09 billion, outperforming Wall Street estimates by $0.05 and $20 million, respectively. The company also maintained fiscal year 2023 consolidated revenue guidance of 7% to 10% growth as compared to last year. 

According to Insider Monkey’s first quarter database, 44 hedge funds were bullish on Illumina, Inc. (NASDAQ:ILMN), with combined stakes worth $1.68 billion. Billionaire Ken Griffin of Citadel Investment Group is a prominent stakeholder of the company, with a position worth $238.2 million. 

Baron Partners Fund made the following comment about Illumina, Inc. (NASDAQ:ILMN) in its Q1 2023 investor letter:

“Illumina, Inc. (NASDAQ:ILMN), the market leader in DNA sequencing technology, detracted from performance for the period held. During the quarter, activist investor Carl Icahn nominated three directors to the Illumina board and criticized the current management team’s decisions with respect to Grail, an acquisition that has developed an early cancer detection test called Galleri. Icahn is urging Illumina to sell the Grail business as soon as possible to eliminate the near-term earnings dilution and allow investors to participate in the core Illumina business. In early April, the FTC ordered the divestment of Grail. We exited our position early in the quarter.”

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Disclosure: None. 10 DNA Stocks Billionaires Are Loading Up On is originally published on Insider Monkey.