ClearBridge Investments, an investment management firm, published its “All Cap Growth Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge All Cap Growth Strategy underperformed its Russell 3000 Growth Index benchmark in the fourth quarter. On an absolute basis, the Strategy generated gains across seven of the eight sectors in which it was invested (out of 11 sectors total). The primary contributors to performance were the IT and health care sectors while the sole detractor was the communication services sector Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
ClearBridge All Cap Growth Strategy, in its Q4 2021 investor letter, mentioned 10x Genomics, Inc. (NASDAQ:TXG) and discussed its stance on the firm. Founded in 2012, 10x Genomics, Inc. (NASDAQ:TXG) is a Pleasanton, California-based biotechnology company with a $9.3 billion market capitalization, and is currently spearheaded by its CEO, Serge Saxonov. 10x Genomics, Inc. (NASDAQ:TXG) delivered a -44.68% return since the beginning of the year, while its 12-month returns are down by -58.22%. The stock closed at $82.41 per share on April 04, 2022.
Here is what ClearBridge All Cap Growth Strategy has to say about 10x Genomics, Inc. (NASDAQ:TXG) in its Q4 2021 investor letter:
“We also established a position in 10x Genomics (TXG). TXG is the dominant player in single-cell analysis and enjoys a duopoly in spatial profiling, two emerging areas of scientific research. Though the company is not yet profitable, we are attracted to the business’s strong gross margin profile and a high degree of visibility as consumables account for 85% of revenue. We also continue to see opportunities for investment in other disruptive areas of health care with large addressable markets, like diabetes.
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Our calculations show that 10x Genomics, Inc. (NASDAQ:TXG) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. 10x Genomics, Inc. (NASDAQ:TXG) was in 22 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 28 funds in the previous quarter. 10x Genomics, Inc. (NASDAQ:TXG) delivered a -41.68% return in the past 3 months.
In February 2022, we published an article that includes 10x Genomics, Inc. (NASDAQ:TXG) in the 5 Genomics Stocks in Cathie Wood’s Portfolio That Are Underperforming. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.
