Nuveen Asset Management LLC Reduces Stake in 10x Genomics, in 2023.
March 21, 2023
Trending News ☀️
Nuveen Asset Management LLC has reduced its stake in 10x Genomics ($NASDAQ:TXG), Inc. in 2023. The company is globally known for its advanced technology and products that are used to process massive amounts of genomic data. The decision by Nuveen to reduce their stake in 10x Genomics suggests that they no longer view the company as a viable investment. This change in sentiment may be due to recent developments within the industry, or perhaps they are reallocating resources to other investments. Whatever the reason, this news will likely have an impact on 10x Genomics’ stock price and the industry as a whole.
While it is unclear what the full ramifications of this decision will be, it is clear that Nuveen has decided to reduce its stake in 10x Genomics in the near future. This could signal a shift in the market and could affect the future of this biotechnology company. It will be interesting to see how the industry responds to this news and how it affects 10x Genomics in the coming months and years.
Price History
This news has been met with mostly positive reactions, as evidenced by Monday’s stock performance. On Monday, 10x Genomics‘ stock opened at $44.6 and closed at $47.5, representing a 5.6% increase from the prior closing price of $45.0. This strong performance was likely due to investors’ optimistic outlook on the company’s future prospects. With the news of Nuveen’s stake reduction, 10x Genomics is well-positioned to continue its upward trajectory in the coming years. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for 10x Genomics. More…
| Total Revenues | Net Income | Net Margin |
| 516.41 | -166 | -32.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for 10x Genomics. More…
| Operations | Investing | Financing |
| -33.61 | -350.89 | 15.82 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for 10x Genomics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.03k | 223.24 | 6.78 |
Key Ratios Snapshot
Some of the financial key ratios for 10x Genomics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 28.1% | – | -31.3% |
| FCF Margin | ROE | ROA |
| -32.0% | -12.8% | -9.8% |
Analysis
GoodWhale recently conducted an analysis of 10X GENOMICS, focusing on its wellbeing. Our Risk Rating for the company revealed that 10X GENOMICS is a high risk investment when it comes to both financial and business aspects. We identified five risk warnings in 10X GENOMICS’ income sheet, balance sheet, cash flow statement, non-financial information, and other financial journals. If you’re interested in learning more about our findings, be sure to become a registered user so you can access all of this information. More…
Peers
The company’s products include the Chromium System, an integrated solution for genome sequencing and data analysis, and the Visium Spatial Transcriptomics System, amicroarray platform for analyzing transcriptome activity in tissue samples. 10x Genomics has raised $310 million in funding from investors such as Fidelity Investments, Kleiner Perkins, and Google Ventures. 10x Genomics’ main competitors are Certara Inc, Omnicell Inc, and CardioComm Solutions Inc. These companies offer similar products and services to support genomic research.
– Certara Inc ($NASDAQ:CERT)
Certara Inc is a biopharmaceutical company that uses data and technology to improve drug development decisions. The company has a market cap of 2.49B as of 2022 and a Return on Equity of 1.81%. The company’s products and services are used by pharmaceutical, biotechnology, and medical device companies, as well as academic institutions and government agencies.
– Omnicell Inc ($NASDAQ:OMCL)
Omnicell is a leading provider of medication management solutions and adherence tools for healthcare systems and pharmacies. Their market cap of 2.49B as of 2022, and ROE of 2.67% indicates a strong and growing company. Omnicell provides solutions that help increase patient safety and improve medication adherence. Their products are used in a variety of settings, including hospitals, long-term care facilities, and retail pharmacies.
– CardioComm Solutions Inc ($TSXV:EKG)
CardioComm Solutions Inc is a medical device company that provides cardiac monitoring and arrhythmia detection solutions. It has a market cap of 2.26M as of 2022 and a return on equity of -59.73%. The company’s products are used in hospitals, clinics, and by individual patients for the remote monitoring of cardiac activity.
Summary
Nuveen Asset Management LLC recently reduced their stake in 10X Genomics, Inc., a genomic analysis company, in 2023. The stock price reacted positively on the same day, indicating that investors are optimistic about the company and its prospects. Analysts have noted that 10X Genomics has grown rapidly in recent years and is currently positioned to pursue a variety of projects in the genomics space. The company has seen strong performance of its stock price and has a growing customer base.
With the potential for increased revenue growth and cost reductions, 10X Genomics is well-positioned for continued success in the future. Investors should consider these factors when deciding whether or not to invest in 10X Genomics.
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