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

Clough Capital Partners L P purchased a new position in shares of 10x Genomics (NASDAQ:TXGFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 610,374 shares of the company’s stock, valued at approximately $9,955,000. Clough Capital Partners L P owned 0.48% of 10x Genomics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in 10x Genomics by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 13,274,332 shares of the company’s stock valued at $155,177,000 after buying an additional 834,272 shares during the last quarter. ARK Investment Management LLC raised its position in 10x Genomics by 6.6% in the 4th quarter. ARK Investment Management LLC now owns 12,667,369 shares of the company’s stock valued at $206,605,000 after buying an additional 779,973 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in 10x Genomics by 2.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,492,189 shares of the company’s stock valued at $89,578,000 after buying an additional 110,970 shares during the last quarter. Amova Asset Management Americas Inc. raised its position in 10x Genomics by 2.0% in the 4th quarter. Amova Asset Management Americas Inc. now owns 5,486,153 shares of the company’s stock valued at $89,424,000 after buying an additional 109,270 shares during the last quarter. Finally, Millennium Management LLC raised its position in 10x Genomics by 84.7% in the 3rd quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock valued at $63,570,000 after buying an additional 2,494,142 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

10x Genomics Stock Up 1.2%

TXG stock opened at $32.13 on Thursday. The business has a 50 day moving average price of $25.12 and a two-hundred day moving average price of $21.29. The company has a market cap of $4.08 billion, a price-to-earnings ratio of -189.00 and a beta of 2.12. 10x Genomics has a twelve month low of $10.38 and a twelve month high of $35.65.

10x Genomics (NASDAQ:TXGGet Free Report) last posted 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 the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company earned ($0.28) earnings per share. On average, equities research analysts anticipate that 10x Genomics will post -0.79 EPS for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other news, insider Benjamin J. Hindson sold 11,595 shares of 10x Genomics 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 $283,381.80. Following the completion of the transaction, the insider directly owned 502,000 shares in the company, valued at approximately $12,268,880. The trade was a 2.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Adam Taich sold 15,098 shares of 10x Genomics stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total value 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. This represents a 3.82% decrease in their ownership of the stock. 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 sold a total of 75,586 shares of company stock worth $1,773,116 over the last ninety days. 8.84% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TXG has been the topic of a number of recent research reports. Stifel Nicolaus lifted their target price on 10x Genomics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. William Blair raised 10x Genomics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 31st. Barclays lifted their target price on 10x Genomics from $22.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Zacks Research lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Bank of America raised their price target on 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, April 20th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.17.

Get Our Latest Stock Analysis on 10x Genomics

10x Genomics Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for 10x Genomics (NASDAQ:TXG)

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