Casdin fund boosts GeneDx (WGS) exposure via 850K share swaps

Rhea-AI Filing Summary

GeneDx Holdings Corp. reported new derivative activity by Casdin-affiliated entities. Casdin Partners Master Fund, L.P. entered into open-market purchases of cash-settled swap agreements referencing GeneDx Class A common stock on three dates. On May 7, 2026, the Master Fund added swaps representing economic exposure to 500,000 notional shares at $38.1543 per share. On May 8, 2026, it added exposure to a further 300,000 notional shares at $41.0261 per share, and on May 11, 2026, to 50,000 notional shares at $39.6602 per share. After these transactions, the filing shows aggregate exposure of 850,000 notional shares through cash-settled swaps. The footnotes state these swaps provide economic results comparable to ownership but do not give the Master Fund voting or disposition power over GeneDx shares, and that the swaps are owned directly by the Master Fund and may be deemed indirectly beneficially owned by Casdin Capital, LLC, Casdin Partners GP, LLC, and Eli Casdin.

Insights

Equity derivatives and governance analyst

Casdin’s fund increased economic exposure to GeneDx via cash‑settled swaps, not direct share ownership.

The filing shows Casdin Partners Master Fund, L.P. entering into three open-market purchases of cash-settled swap agreements referencing an aggregate of 850,000 notional GeneDx Class A shares. Prices range from $38.1543 to $41.0261 per share, creating economic exposure similar to holding the stock.

However, the footnotes clarify that these swaps do not convey power to vote or dispose of the underlying securities. They are owned directly by the Master Fund and may be deemed indirectly beneficially owned by Casdin Capital, LLC, Casdin Partners GP, LLC, and Eli Casdin. The transactions are derivative-based net buys, and their significance depends on GeneDx’s overall float and Casdin’s broader strategy, which are not detailed here.

Insider Trade Summary

3 transactions reported

Net Buy 3 txns

Insider Casdin Capital, LLC, Casdin Eli, Casdin Partners Master Fund, L.P., Casdin Partners GP, LLC

Role null | null | null | null

Bought 850,000 shs ($0.00)

Type	Security	Shares	Price	Value
Purchase	Cash Settled Swap	50,000	$0.00	--
Purchase	Cash Settled Swap	300,000	$0.00	--
Purchase	Cash Settled Swap	500,000	$0.00	--

Holdings After Transaction: Cash Settled Swap — 850,000 shares (Indirect, See Footnote)

Footnotes (1)

1. Casdin Partners Master Fund, L.P. (the "Master Fund") has entered into certain cash-settled swap agreements (the "Swap Agreements"), which represent economic exposure to an aggregate of 500,000 notional shares of the Issuer's Class A Common Stock, at a price of $38.1543 per share. The Swap Agreements provide the Master Fund with economic results that are comparable to the economic results of ownership but do not provide it with the power to vote or direct the voting or dispose of or direct the disposition of the securities that are referenced by the Swap Agreements. The Swap Agreements are owned directly by the Master Fund and may be deemed to be indirectly beneficially owned by (i) Casdin Capital, LLC, the investment adviser to the Master Fund ("Casdin"), (ii) Casdin Partners GP, LLC, the general partner of the Master Fund (the "GP"), and (iii) Eli Casdin, the managing member of Casdin and the GP. The Master Fund has entered into certain cash-settled swap agreements (the "Swap Agreements"), which represent economic exposure to an aggregate of 300,000 notional shares of the Issuer's Class A Common Stock, at a price of $41.0261 per share. The Swap Agreements provide the Master Fund with economic results that are comparable to the economic results of ownership but do not provide it with the power to vote or direct the voting or dispose of or direct the disposition of the securities that are referenced by the Swap Agreements. The Master Fund has entered into certain cash-settled swap agreements (the "Swap Agreements"), which represent economic exposure to an aggregate of 50,000 notional shares of the Issuer's Class A Common Stock, at a price of $39.6602 per share. The Swap Agreements provide the Master Fund with economic results that are comparable to the economic results of ownership but do not provide it with the power to vote or direct the voting or dispose of or direct the disposition of the securities that are referenced by the Swap Agreements.

Key Figures

Swap notional exposure: 500,000 notional shares Additional swap exposure: 300,000 notional shares Incremental swap exposure: 50,000 notional shares +2 more

5 metrics

Swap notional exposure 500,000 notional shares Cash-settled swaps at $38.1543 per share

Additional swap exposure 300,000 notional shares Cash-settled swaps at $41.0261 per share

Incremental swap exposure 50,000 notional shares Cash-settled swaps at $39.6602 per share

Total notional exposure after trades 850,000 notional shares Total shares following derivative transactions

Number of buy transactions 3 derivative purchases Open-market purchases of cash-settled swaps

Key Terms

cash-settled swap agreements, economic exposure, notional shares, indirectly beneficially owned, +1 more

5 terms

cash-settled swap agreements financial

"has entered into certain cash-settled swap agreements (the "Swap Agreements"), which represent economic exposure"

economic exposure financial

"which represent economic exposure to an aggregate of 500,000 notional shares of the Issuer's Class A Common Stock"

notional shares financial

"represent economic exposure to an aggregate of 300,000 notional shares of the Issuer's Class A Common Stock"

indirectly beneficially owned financial

"may be deemed to be indirectly beneficially owned by (i) Casdin Capital, LLC"

investment adviser financial

"Casdin Capital, LLC, the investment adviser to the Master Fund ("Casdin")"

An investment adviser is a person or firm that professionally manages money and gives recommendations about buying, selling, or holding investments. Like a financial coach or guide, they have a legal duty to act in a client's best financial interest, so their advice, fees and potential conflicts can directly affect returns and risk — making their role important for investors who want informed, accountable help with portfolios.

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Casdin Capital, LLC

(Last) (First) (Middle)

1350 AVENUE OF THE AMERICAS

SUITE 2600

(Street)

NEW YORK NEW YORK 10019

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
GeneDx Holdings Corp. [ WGS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/07/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Cash Settled Swap	(1)	05/07/2026		P/K		500,000		(1)	(1)	Class A Common Stock	500,000	(1)	500,000	I	See Footnote(2)
Cash Settled Swap	(3)	05/08/2026		P/K		300,000		(3)	(3)	Class A Common Stock	300,000	(3)	800,000	I	See Footnote(2)
Cash Settled Swap	(4)	05/11/2026		P/K		50,000		(4)	(4)	Class A Common Stock	50,000	(4)	850,000	I	See Footnote(2)

1. Name and Address of Reporting Person^*

Casdin Capital, LLC

(Last) (First) (Middle)

1350 AVENUE OF THE AMERICAS

SUITE 2600

(Street)

NEW YORK NEW YORK 10019

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Casdin Eli

(Last) (First) (Middle)

1350 AVENUE OF THE AMERICAS

SUITE 2600

(Street)

NEW YORK NEW YORK 10019

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Casdin Partners Master Fund, L.P.

(Last) (First) (Middle)

1350 AVENUE OF THE AMERICAS

SUITE 2600

(Street)

NEW YORK NEW YORK 10019

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Casdin Partners GP, LLC

(Last) (First) (Middle)

1350 AVENUE OF THE AMERICAS

SUITE 2600

(Street)

NEW YORK NEW YORK 10019

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Casdin Partners Master Fund, L.P. (the "Master Fund") has entered into certain cash-settled swap agreements (the "Swap Agreements"), which represent economic exposure to an aggregate of 500,000 notional shares of the Issuer's Class A Common Stock, at a price of $38.1543 per share. The Swap Agreements provide the Master Fund with economic results that are comparable to the economic results of ownership but do not provide it with the power to vote or direct the voting or dispose of or direct the disposition of the securities that are referenced by the Swap Agreements.

2. The Swap Agreements are owned directly by the Master Fund and may be deemed to be indirectly beneficially owned by (i) Casdin Capital, LLC, the investment adviser to the Master Fund ("Casdin"), (ii) Casdin Partners GP, LLC, the general partner of the Master Fund (the "GP"), and (iii) Eli Casdin, the managing member of Casdin and the GP.

3. The Master Fund has entered into certain cash-settled swap agreements (the "Swap Agreements"), which represent economic exposure to an aggregate of 300,000 notional shares of the Issuer's Class A Common Stock, at a price of $41.0261 per share. The Swap Agreements provide the Master Fund with economic results that are comparable to the economic results of ownership but do not provide it with the power to vote or direct the voting or dispose of or direct the disposition of the securities that are referenced by the Swap Agreements.

4. The Master Fund has entered into certain cash-settled swap agreements (the "Swap Agreements"), which represent economic exposure to an aggregate of 50,000 notional shares of the Issuer's Class A Common Stock, at a price of $39.6602 per share. The Swap Agreements provide the Master Fund with economic results that are comparable to the economic results of ownership but do not provide it with the power to vote or direct the voting or dispose of or direct the disposition of the securities that are referenced by the Swap Agreements.

Remarks:

Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

	Casdin Capital LLC, By: /s/ Eli Casdin, Managing Member	05/11/2026
	/s/ Eli Casdin, Eli Casdin	05/11/2026
	Casdin Partners Master Fund, LP, By: Casdin Partners GP, LLC, its General Partner, By: /s/ Eli Casdin, Managing Member	05/11/2026
	Casdin Partners GP LLC, By: /s/ Eli Casdin, Managing Member, /s/ Eli Casdin, Eli Casdin	05/11/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider activity did Casdin report for GeneDx (WGS) in this Form 4?

The Form 4 reports that Casdin Partners Master Fund, L.P. entered into three open-market purchases of cash-settled swap agreements referencing GeneDx Class A common stock, creating economic exposure to a total of 850,000 notional shares across several days in May 2026.

How many GeneDx notional shares do Casdin’s new swaps reference and at what prices?

The swaps reference economic exposure to 500,000 notional GeneDx shares at $38.1543, 300,000 notional shares at $41.0261, and 50,000 notional shares at $39.6602. Together, these cash-settled swap agreements cover 850,000 notional shares following the reported transactions.

Do Casdin’s cash-settled swaps give voting power over GeneDx (WGS) shares?

No. The filing states the cash-settled swap agreements provide economic results comparable to ownership but do not give the Master Fund power to vote, direct voting, dispose of, or direct the disposition of the GeneDx securities referenced by the swaps.

Who directly owns the GeneDx-related swap agreements reported in this Form 4?

The filing explains that the cash-settled swap agreements are owned directly by Casdin Partners Master Fund, L.P. They may be deemed indirectly beneficially owned by Casdin Capital, LLC, Casdin Partners GP, LLC, and Eli Casdin due to their advisory and control roles over the Master Fund.

What is Casdin Partners Master Fund’s total economic exposure to GeneDx after these swaps?

After the reported transactions, the Form 4 shows the Master Fund has economic exposure through cash-settled swap agreements referencing an aggregate of 850,000 notional shares of GeneDx’s Class A common stock, based on the total shares following transaction in the derivative table.

Are Casdin’s GeneDx transactions in this filing direct share purchases?

No. The transactions are open-market purchases of cash-settled swap agreements, not direct purchases of GeneDx shares. These swaps reference notional shares and deliver economic exposure, but they do not transfer actual share ownership or related voting and disposition rights.