VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of 10x Genomics (NASDAQ:TXG – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 62,003 shares of the company’s stock, valued at approximately $2,377,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elevation Wealth Partners LLC grew its position in 10x Genomics by 332.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock worth $57,000 after purchasing an additional 1,143 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of 10x Genomics by 164.4% in the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock worth $39,000 after buying an additional 1,470 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of 10x Genomics during the first quarter worth $50,000. Nykredit A S acquired a new stake in shares of 10x Genomics during the second quarter worth $126,000. Finally, Van ECK Associates Corp grew its holdings 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 valued at $60,000 after buying an additional 1,695 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have weighed in on TXG. Barclays boosted their price target on 10x Genomics from $30.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Royal Bank Of Canada began coverage on 10x Genomics in a research note on Tuesday, September 1st. They issued a “sector perform” rating and a $70.00 price objective for the company. Canaccord Genuity Group lifted their target price on 10x Genomics from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Stephens upped their target price on 10x Genomics from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, UBS Group increased their price target on shares of 10x Genomics from $20.00 to $68.00 and gave the stock a “neutral” rating in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $44.00.
10x Genomics Stock Performance
NASDAQ:TXG opened at $66.38 on Friday. The firm’s fifty day moving average is $53.09 and its two-hundred day moving average is $34.76. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of -112.51 and a beta of 2.08. 10x Genomics has a one year low of $11.16 and a one year high of $67.70.
10x Genomics (NASDAQ:TXG – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. The business had revenue of $151.04 million during the quarter, compared to analyst estimates of $146.67 million. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%.The company’s revenue was down 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. As a group, equities research analysts predict that 10x Genomics will post -0.75 earnings per share for the current fiscal year.
Insider Buying and Selling
In other 10x Genomics news, CEO Serge Saxonov sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $34.44, for a total value of $1,033,200.00. Following the sale, the chief executive officer owned 1,108,380 shares in the company, valued at approximately $38,172,607.20. This represents a 2.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Shehnaaz Suliman sold 5,723 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $32.63, for a total transaction of $186,741.49. Following the sale, the director directly owned 31,722 shares in the company, valued at $1,035,088.86. The trade was a 15.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 137,945 shares of company stock valued at $7,539,588 in the last three months. 8.84% of the stock is currently owned by company insiders.
About 10x Genomics
10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.
The company’s product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.
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