Lazard Asset Management LLC reduced its stake in shares of 10x Genomics (NASDAQ:TXG – Free Report) by 20.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 182,984 shares of the company’s stock after selling 45,761 shares during the period. Lazard Asset Management LLC’s holdings in 10x Genomics were worth $3,885,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new stake in shares of 10x Genomics during the fourth quarter worth $38,000. Larson Financial Group LLC raised its stake in shares of 10x Genomics by 164.4% in the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after purchasing an additional 1,470 shares during the period. Fifth Third Bancorp bought a new stake in shares of 10x Genomics in the first quarter valued at about $50,000. Van ECK Associates Corp boosted its position in shares of 10x Genomics by 85.9% during the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after buying an additional 1,695 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 10x Genomics by 28.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,660 shares of the company’s stock worth $92,000 after buying an additional 1,237 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.
10x Genomics Trading Down 4.4%
NASDAQ:TXG opened at $47.27 on Friday. The stock has a market capitalization of $6.00 billion, a PE ratio of -278.06 and a beta of 2.05. 10x Genomics has a 1-year low of $11.16 and a 1-year high of $50.34. The firm has a fifty day simple moving average of $37.09 and a 200 day simple moving average of $26.67.
Analyst Ratings Changes
Several research firms have commented on TXG. Citigroup boosted their target price on 10x Genomics from $24.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Piper Sandler increased their target price on shares of 10x Genomics from $20.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Bank of America raised their target price on shares of 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Morgan Stanley boosted their price target on shares of 10x Genomics from $22.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $32.08.
Check Out Our Latest Research Report on TXG
Insider Activity
In related news, CEO Serge Saxonov sold 30,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $34.44, for a total value of $1,033,200.00. Following the completion of the sale, the chief executive officer directly owned 1,108,380 shares in the company, valued at approximately $38,172,607.20. This trade represents a 2.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Benjamin J. Hindson sold 11,595 shares of 10x Genomics 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 transaction, the insider owned 502,000 shares of the company’s stock, valued at $12,268,880. The trade was a 2.26% 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 have sold 91,309 shares of company stock valued at $2,581,357 over the last quarter. 8.84% of the stock is currently owned by company insiders.
10x Genomics 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.
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