Clough Capital Partners L P Invests $9.96 Million in 10x Genomics $TXG

Clough Capital Partners L P bought a new position in shares of 10x Genomics (NASDAQ:TXG) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 610,374 shares of the company’s stock, valued at approximately $9,955,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in 10x Genomics by 777.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,073,865 shares of the company’s stock worth $12,553,000 after purchasing an additional 951,495 shares during the last quarter. Level Four Advisory Services LLC acquired a new stake in 10x Genomics during the 3rd quarter worth approximately $640,000. Principal Financial Group Inc. acquired a new stake in 10x Genomics during the 3rd quarter worth approximately $1,896,000. Dynamic Technology Lab Private Ltd lifted its holdings in 10x Genomics by 146.7% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 96,279 shares of the company’s stock worth $1,126,000 after purchasing an additional 57,256 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in 10x Genomics by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 13,274,332 shares of the company’s stock worth $155,177,000 after purchasing an additional 834,272 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TXG has been the subject of several research reports. Morgan Stanley lifted their price target on 10x Genomics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Barclays increased their target price on shares of 10x Genomics from $22.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 14th. Bank of America raised their target price on shares of 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. Zacks Research cut shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Citigroup raised their target price on shares of 10x Genomics from $18.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, April 7th. 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $23.17.

10x Genomics Stock Up 1.2%

Shares of TXG stock 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 company has a market cap of $4.08 billion, a P/E ratio of -189.00 and a beta of 2.12. The business has a fifty day simple moving average of $25.12 and a 200 day simple moving average of $21.29.

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

Insiders Place Their Bets

In other 10x Genomics news, insider Benjamin J. Hindson sold 11,595 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $24.44, for a total value of $283,381.80. Following the completion of the transaction, the insider owned 502,000 shares of the company’s stock, valued at $12,268,880. This represents a 2.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 stock in a transaction dated 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 sale, the chief executive officer directly owned 1,149,098 shares of the company’s stock, valued at approximately $28,083,955.12. The trade was a 1.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 75,586 shares of company stock valued at $1,773,116 in the last 90 days. Corporate insiders own 8.84% of the company’s stock.

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.