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

Casdin Capital LLC purchased a new position in 10x Genomics (NASDAQ:TXG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,400,000 shares of the company’s stock, valued at approximately $22,834,000. 10x Genomics comprises 1.4% of Casdin Capital LLC’s investment portfolio, making the stock its 15th largest position. Casdin Capital LLC owned about 1.11% of 10x Genomics at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Intech Investment Management LLC lifted its position in shares of 10x Genomics by 1.4% during the fourth quarter. Intech Investment Management LLC now owns 40,047 shares of the company’s stock valued at $653,000 after buying an additional 567 shares during the last quarter. Certuity LLC grew its stake in 10x Genomics by 4.7% in the 4th quarter. Certuity LLC now owns 20,204 shares of the company’s stock valued at $330,000 after acquiring an additional 904 shares during the period. Stratos Wealth Partners LTD. boosted its stake in 10x Genomics by 7.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 14,052 shares of the company’s stock worth $229,000 after purchasing an additional 950 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in 10x Genomics by 28.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,660 shares of the company’s stock worth $92,000 after purchasing an additional 1,237 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in shares of 10x Genomics by 6.3% during the 4th quarter. M&T Bank Corp now owns 21,699 shares of the company’s stock worth $354,000 after acquiring an additional 1,282 shares during the period. 84.68% of the stock is currently owned by institutional investors.

Insider Transactions at 10x Genomics

In other 10x Genomics news, CFO Adam Taich sold 15,098 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total transaction of $368,995.12. Following the transaction, the chief financial officer owned 379,898 shares of the company’s stock, valued at $9,284,707.12. The trade was a 3.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Serge Saxonov sold 18,175 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total value of $444,197.00. Following the completion of the transaction, the chief executive officer directly owned 1,149,098 shares in the company, valued at $28,083,955.12. The trade was a 1.56% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 75,586 shares of company stock worth $1,773,116 in the last three months. Insiders own 8.84% of the company’s stock.

10x Genomics Stock Performance

NASDAQ TXG opened at $32.13 on Thursday. 10x Genomics has a twelve month low of $10.38 and a twelve month high of $35.65. The stock has a market capitalization of $4.08 billion, a PE ratio of -189.00 and a beta of 2.12. The stock has a 50-day simple moving average of $25.12 and a 200 day simple moving average of $21.29.

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

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Canaccord Genuity Group boosted their price target on shares of 10x Genomics from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. increased their price objective on 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. William Blair raised 10x Genomics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of 10x Genomics in a report on Friday, March 27th. Finally, Zacks Research lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, 10x Genomics currently has a consensus rating of “Hold” and an average price target of $23.17.

10x Genomics 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.