Vanguard Group Inc. Acquires 834,272 Shares of 10x Genomics $TXG

Vanguard Group Inc. increased its position in 10x Genomics (NASDAQ:TXG) by 6.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,274,332 shares of the company’s stock after buying an additional 834,272 shares during the quarter. Vanguard Group Inc. owned approximately 0.11% of 10x Genomics worth $155,177,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Foundations Investment Advisors LLC purchased a new position in shares of 10x Genomics during the 3rd quarter worth $665,000. Jump Financial LLC increased its holdings in 10x Genomics by 130.2% in the 2nd quarter. Jump Financial LLC now owns 1,041,051 shares of the company’s stock valued at $12,055,000 after purchasing an additional 588,769 shares during the last quarter. AlphaQuest LLC raised its position in 10x Genomics by 234.3% in the third quarter. AlphaQuest LLC now owns 133,419 shares of the company’s stock valued at $1,560,000 after purchasing an additional 93,514 shares during the period. Friedenthal Financial acquired a new position in 10x Genomics during the third quarter worth $924,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of 10x Genomics during the third quarter worth $1,179,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

10x Genomics Stock Down 2.2%

NASDAQ TXG opened at $22.62 on Wednesday. The stock has a market cap of $2.89 billion, a PE ratio of -64.63 and a beta of 2.20. The business has a 50 day moving average price of $19.58 and a two-hundred day moving average price of $16.23. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $23.56.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The firm had revenue of $166.03 million for the quarter, compared to the consensus estimate of $160.35 million. During the same quarter in the previous year, the firm posted ($0.40) EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. Sell-side analysts anticipate that 10x Genomics will post -1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on TXG shares. Leerink Partners reduced their price target on shares of 10x Genomics from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 27th. TD Cowen increased their price objective on shares of 10x Genomics from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, February 13th. UBS Group upped their price objective on shares of 10x Genomics from $14.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Citigroup cut 10x Genomics from a “buy” rating to a “cautious” rating in a research report on Thursday, December 11th. Finally, Canaccord Genuity Group set a $22.00 target price on 10x Genomics in a report on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, 10x Genomics presently has an average rating of “Hold” and a consensus target price of $18.46.

Insider Activity at 10x Genomics

In other 10x Genomics news, CFO Adam Taich sold 8,968 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total transaction of $166,625.44. Following the sale, the chief financial officer owned 288,417 shares in the company, valued at $5,358,787.86. This represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Benjamin J. Hindson sold 7,826 shares of 10x Genomics stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total value of $145,407.08. Following the completion of the transaction, the insider owned 424,779 shares of the company’s stock, valued at approximately $7,892,393.82. The trade was a 1.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,426 shares of company stock valued at $490,995 over the last three months. 10.03% of the stock is owned by insiders.

About 10x Genomics

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.