10 Best Multibagger Stocks to Buy According to Billionaires

6. GeneDx Holdings Corp. (NASDAQ:WGS)

Number of Hedge Fund Holders: 32

Number of Billionaire Holders: 9

1-Year Gain as of April 22: 776.23%

GeneDx Holdings Corp. (NASDAQ:WGS) is a diagnostic and research company that provides personalized health insights through exome and genome testing, with a focus on rare and pediatric diseases. The company uses data to inform diagnosis, treatment, and drug discovery. While the stock is up by more than 700% over the past year, its sentiments have received a significant boost amid reports the company plans to acquire Fabric Genomics.

With the acquisition, GeneDx Holdings Corp. (NASDAQ:WGS) gains access to valuable assets in AI-powered genomic interpretation. Therefore, it will be in a position to create a leading platform for rare disease diagnostics while also accelerating genomic newborn screening. The acquisition should expand GeneDX’s reach through on-site sequencing and enhance its NICU testing capabilities.

Fabric Genomics acquisition comes on the heels of GeneDx Holdings Corp. (NASDAQ:WGS) delivering robust Q4 2024 results, with revenues increasing 64% year-over-year to $95.3 million as full-year revenue increased 56% to $302.3 million. Amid the robust revenue growth, the company plans to introduce its testing solutions to a wider population to strengthen its revenue base further. On March 10, Wells Fargo raised the stock’s price target to $105 from $75 and reiterated an Equal weight rating buoyed by the company’s strong 2024 results and solid 2025 guidance.