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12 Biggest Genomics Companies In The World

In this article, we will discuss the 12 Biggest Genomics Companies In The World. If you want to skip our analysis of the genomics market, you can skip this article and head on to the 5 Biggest Genomics Companies In The World.

Innovative research and advanced methodologies in genomics are being implemented across all science disciplines contributing to the expansion of genomics globally. The global genomics market is estimated to undergo a compound annual growth rate of 18.2% to reach a value of $63.50 billion by 2026. The market growth is primarily driven by increased government funding for genomics research and a spike in the single-cell genomics market. Research surrounding genomics concerns approaches to enhance the safe usage of genomics to augment patient care and serve society through use in government, public and private institutions. For example, the National Center for Advancing Translational Sciences (NCATS) provided funding of $7 million in 2019 to the Hudson Alpha Institute for Biotechnology in Huntsville, Alabama, for a research program catering to a study on the application of radical DNA sequencing technologies that could improve diagnosis and treatment of a spectrum of both command rare diseases.

Companies continue to undertake research for new product development to boost their sales and grow their consumer base, as well as to attain a competitive advantage against their competitors. With the availability of population data from ancient times across various timelines, demographics, and geographics, alongside refined methodologies, genomics is set to witness enhanced integration with other disciplines and experience unprecedented growth.

Therefore, in this article, we are going to talk about the 12 biggest genomics companies in the world. Some of these stocks mentioned in this article were previously covered in 11 Best Immunotherapy Stocks To Buy.

Our Methodology

We have picked the top 12 genomics companies in the world and have ranked them from #12 to #1 in order of their market capitalization.

Biggest Genomics Companies In The World

12. NeoGenomics, Inc. (NASDAQ:NEO)

Market Capitalization: $1.01 billion

Number of Hedge Fund Holders: 15

NeoGenomics, Inc. (NASDAQ:NEO) is a leading provider of cancer-centered genetic and diagnostic services based in Florida, USA. The company’s development cycles are extremely swift, keeping its response time and curation timeline highly responsive. The company’s clientele includes hospitals, oncologists, pathologists, reference labs, researchers, and pharmaceutical companies. NeoGenomics, Inc. (NASDAQ:NEO has testing facilities throughout the U.S as well as a network of laboratories in California, Florida, Texas, and Tennessee.

On August 26, 2022, Bruce Jackson, an analyst at Benchmark, downgraded NeoGenomics, Inc. (NASDAQ:NEO) to Hold from Buy. The analyst contends that the company has appointed a new CEO and has begun a new program named Project Catalyst, which is a good strategic plan for the future, but currently, the company has nothing to show.

Here is what Artisan Partners specifically said about NeoGenomics, Inc. (NASDAQ:NEO) in its Q2 2022 investor letter:

NeoGenomics, Inc. (NASDAQ:NEO) is the largest cancer diagnostics lab in the US with the broadest menu of tests and deepest reach to oncologists and pathologists, particularly in rural areas where 80% of cancer testing occurs. Our thesis was focused on the company’s scale and competitive position as cancer treatment becomes personalized. Unfortunately, the company has faced several headwinds in recent quarters. The delta and omicron COVID-19 variants delayed an anticipated recovery in cancer testing volumes and the company’s CEO resigned amid a period of elevated lab expense growth. With our thesis stalled, we ended our GardenSM campaign.

At the end of Q2 2022, Millennium Management held the highest stake in NeoGenomics, Inc. (NASDAQ:NEO), with an investment value of over $17 million in the company. According to Insider Monkey database, 15 hedge funds owned stakes in the company at the end of the June quarter.

In addition to NeoGenomics, Inc. (NASDAQ:NEO), CRISPR Therapeutics AG (NASDAQ:CRSP), Natera, Inc. (NASDAQ: NTRA), and Exact Sciences Corporation (NASDAQ:EXAS) are included in our list of 12 biggest genomics companies in the world.

11. Fulgent Genetics, Inc. (NASDAQ:FLGT)

Market Capitalization: $1.18 billion

Number of Hedge Fund Holders: 17

Fulgent Genetics, Inc. (NASDAQ:FLGT) was incorporated in 2011, and offers a wide menu of genetic and molecular diagnostic tests. Its genetic test comes with a choice between a single gene test or a pre-established panel test which is a customizable offering. The company also caters to genetic sequencing services and whole genome testing. Fulgent Genetics, Inc. (NASDAQ:FLGT) has headquarters in Temple City, California, United States.

On August 24, 2022, Dan Leonard, an analyst at Fulgent Genetics, started coverage of Fulgent Genetics, Inc. (NASDAQ:FLGT) with an Outperform rating and a target price of $65. The analyst stated in a research note that Fulgent Genetics, Inc. (NASDAQ:FLGT) is well positioned to increase its market share in the genetic and oncology testing markets as the company continues to drive value out of its recent acquisitions.

At the end of Q2 2022, Park West Asset Management held the highest stake in Fulgent Genetics, Inc. (NASDAQ:FLGT), with a holding of 629,882 shares of the company, constituting 1.94% of the fund’s portfolio. According to Insider Monkey database, 17 hedge funds owned stakes in the company at the end of the June quarter.

10. Myriad Genetics, Inc. (NASDAQ:MYGN)

Market Capitalization: $1.61 billion

Number of Hedge Fund Holders: 14

Incorporated in 1992 and based in Salt Lake city, Myriad Genetics, Inc. (NASDAQ:MYGN) is involved in the development and marketing of genetic tests and personalized medication. Its product portfolio enlists a range of molecular diagnostic tests falling under the franchise of predictive medicine and precision medicine. The company’s operational footprint extends over the US, the UK, Germany, Spain, Italy, France, Australia, Japan, Switzerland, and the Netherlands.

On October 05, 2022, Mason Carrico, an analyst at Stephens, initiated coverage of Myriad Genetics, Inc. (NASDAQ:MYGN) with a price target of $22. The analyst currently has an Equal Weight rating on the stock and believes that the company still remains in the initial stages of its expansion phase and the stock remains cheap at the current levels.

According to Insider Monkey database, 14 hedge funds held stakes in Myriad Genetics, Inc. (NASDAQ:MYGN) at the end of the second quarter ending June 2022. Camber Capital Management was the leading stakeholder of the company at the end of Q2 2022, with an investment value of over $90 million in the company.

9. Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Market Capitalization: $1.74 billion

Number of Hedge Fund Holders: 18

Pacific Biosciences of California, Inc. (NASDAQ:PACB) is a biotechnology company based in Menlo Park, California, US. It is engaged in the business of designing, developing, and manufacturing complex genetic sequencing schemes. The company currently has single molecule and real-time technology, which allows for real-time biological observation of biomolecules offering exceptional lengths and accuracy.

On October 19, 2022, Julia Qin, an analyst at JPMorgan, stated in a research note that Pacific Biosciences of California, Inc. (NASDAQ:PACB) has major catalysts for growth in the near term. The analyst currently has an Overweight rating on the stock with a price target of $10. The analyst believes that the company’s launch of “Sequel III” will drive growth despite the macro headwinds in the near term.

DEVON Equity Management, an investment firm, highlighted a few stocks in its Q2 2021 investor letter, and Pacific Biosciences of California (NASDAQ:PACB) featured among them. The fund said:

As a final word on Sequencing – we established a position in Pacific Biosciences (PACB US) during the quarter. Pac Bio are the leader in Long Read Sequencing (Illumina are dominant in Short Read). The Long Read market is far less developed than short read, but our continued research into the genomic sequencing field increased our confidence in the commercial viability for Long Read Sequencing in the coming years. We will discuss the investment case for Pac Bio in more detail in a future letter.

As per Insider Monkey database, 18 hedge funds had stakes in Pacific Biosciences of California, Inc. (NASDAQ:PACB) at the end of the June quarter. ARK Investment Management was the most bullish fund on the company’s stock, with a total holding of 28,045,530 company stocks at the end of Q2 2022.

8. Krystal Biotech, Inc. (NASDAQ:KRYS)

Market Capitalization: $1.94 billion

Number of Hedge Fund Holders: 12

Krystal Biotech, Inc. (NASDAQ:KRYS) is a fully integrated biotechnology company that is capitalizing on its proprietary HSV-1 vector technology to curate solutions under the discipline of redosable gene therapies. The gene delivery system developed by the company allows for over-the-counter therapies for major dermatological and respiratory illnesses. The company is based in Pittsburgh, US.

On September 22, 2022, Krystal Biotech, Inc. (NASDAQ:KRYS) got a positive nod from a panel of experts of EU drug regulators to go ahead to file their EU marketing application for the therapy of a rare skin disease.

At the end of the quarter ending June 2022, Redmile Group was the leading stakeholder of the company’s stock, with an investment value of approximately $124 million in the company’s shares. As per Insider Monkey database, 12 hedge funds owned stakes in Krystal Biotech, Inc. (NASDAQ:KRYS) at the end of Q2 2022.

7. 10x Genomics, Inc. (NASDAQ:TXG)

Market Capitalization: $3.04 billion

Number of Hedge Fund Holders: 17

Headquartered in Pleasanton, California, 10x Genomics, Inc. (NASDAQ:TXG) is engaged in the business of designing and manufacturing gene sequencing technology, including tools and software which are utilized by a wide range of scientific research firms. It has more than 3,500 instruments and more than 4,100 publications to its name.

On August 10, 2022, Tejas Savant, an analyst at Morgan Stanley, reduced his price target on 10x Genomics, Inc. (NASDAQ:TXG) to $70. The analyst currently keeps an Overweight rating on the company’s stock and stated that the future outlook of 10x Genomics, Inc. (NASDAQ:TXG) after the Q2 result remains firm, and it remains well-positioned going into 2023. The company’s fixed RNA profiling and CytAssist is experiencing robust demand, and Xenium is on its way to being launched at the end of the year.

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.

ARK Investment Management held the highest stake in the company at the end of Q2 2022, with a total holding of 3,603,286 shares in the company. According to Insider Monkey database, 17 hedge funds owned stakes in 10x Genomics, Inc. (NASDAQ:TXG) at the end of the second quarter ending June 2022.

6. Beam Therapeutics Inc. (NASDAQ:BEAM)

Market Capitalization: $3.28 billion

Number of Hedge Fund Holders: 17

Beam Therapeutics Inc. (NASDAQ:BEAM) is engaged in the production and development of genetic medicines by way of its exclusive base editing technology. Its highly diverse portfolio of curative treatments includes modalities that target T-Cell correction, glycogen storage disease, and sickle cell disease. The company is based in Cambridge, Massachusetts.

On September 19, 2022, Beam Therapeutics Inc. (NASDAQ:BEAM) revealed preclinical data regarding the company’s multiplex base editing ability to treat hepatitis B. The company’s data revealed the capability of HBV-targeting gRNAs and mRNA-encoding CBEs to launch stop codons in HBV DNA which leads to an inhibition of HBV viral markers. The results demonstrate that base editing can introduce mutations that suppress viral protein production, inhibit HBV replication, and render cccDNA and integrated HBV DNA permanently inactive.

Here is what Baron Health Care Fund has to say about Beam Therapeutics Inc. (NASDAQ:BEAM) in their Q1 2021 investor letter:

Beam Therapeutics Inc. is a biotechnology company pioneering a novel technology called base editing, which allows for individual base pairs (the letters of DNA) to be modified. Shares fell along with other biotechnology stocks driven by a sudden rise in treasury yields. Early stage biotechnology stocks are particularly sensitive to interest rates because their cash flows are further in the future. We believe we are entering into a phase of significant advancement for the gene editing field that will eventually lead to curative therapies, and we think Beam has a unique platform technology.

At the end of Q2 2022, ARK Investment Management remained the biggest stakeholder of the company, with a holding of 8,792,064 shares. 17 hedge funds remained bullish on the company at the end of the second quarter, according to Insider Monkey database.

Click to continue reading and see 5 Biggest Genomics Companies In The World.

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Disclosure: None. 12 Biggest Genomics Companies In The World is originally published on Insider Monkey.

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