5 DNA Stocks Billionaires Are Loading Up On

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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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