Casdin Capital LLC Purchases Shares of 1,400,000 10x Genomics $TXG

Casdin Capital LLC bought a new position in shares of 10x Genomics (NASDAQ:TXG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,400,000 shares of the company’s stock, valued at approximately $22,834,000. 10x Genomics makes up about 1.4% of Casdin Capital LLC’s holdings, making the stock its 15th biggest holding.

Other hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. bought a new stake in shares of 10x Genomics in the 4th quarter worth approximately $38,000. Larson Financial Group LLC grew its position in 10x Genomics by 164.4% in the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock worth $39,000 after acquiring an additional 1,470 shares in the last quarter. Van ECK Associates Corp grew its position in 10x Genomics by 85.9% in the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after acquiring an additional 1,695 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in 10x Genomics by 203.9% in the second quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company’s stock worth $87,000 after acquiring an additional 5,025 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in 10x Genomics by 28.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,660 shares of the company’s stock worth $92,000 after acquiring an additional 1,237 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Activity at 10x Genomics

In other news, CEO Serge Saxonov sold 10,718 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $24.71, for a total value of $264,841.78. Following the completion of the sale, the chief executive officer owned 1,138,380 shares in the company, valued at approximately $28,129,369.80. The trade was a 0.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Benjamin J. Hindson sold 11,595 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $283,381.80. Following the completion of the sale, the insider owned 502,000 shares of the company’s stock, valued at approximately $12,268,880. This represents a 2.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 75,586 shares of company stock worth $1,773,116 in the last 90 days. 8.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TXG shares. William Blair upgraded shares of 10x Genomics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 31st. UBS Group increased their price target on shares of 10x Genomics from $14.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Bank of America increased their price target on shares of 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, April 20th. JPMorgan Chase & Co. increased their price target on shares of 10x Genomics from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Finally, Canaccord Genuity Group raised their target price on shares of 10x Genomics from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $23.17.

10x Genomics Stock Performance

Shares of NASDAQ TXG opened at $32.13 on Thursday. 10x Genomics has a 52-week low of $10.38 and a 52-week high of $35.65. The company has a market cap of $4.08 billion, a P/E ratio of -189.00 and a beta of 2.12. The firm’s fifty day moving average is $25.12 and its two-hundred day moving average is $21.29.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.19. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The business had revenue of $150.84 million during the quarter, compared to analysts’ expectations of $146.41 million. During the same period last year, the company posted ($0.28) EPS. The business’s revenue was up 9.4% on a year-over-year basis. As a group, analysts forecast that 10x Genomics will post -0.79 EPS for the current fiscal year.

10x Genomics Company Profile

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.