Hsbc Holdings PLC Invests $5.95 Million in 10x Genomics $TXG

Hsbc Holdings PLC acquired a new position in shares of 10x Genomics (NASDAQ:TXG) in the 1st quarter, Holdings Channel.com reports. The fund acquired 285,389 shares of the company’s stock, valued at approximately $5,945,000.

Other hedge funds have also recently modified their holdings of the company. ARK Investment Management LLC grew its position in 10x Genomics by 6.6% in the 4th quarter. ARK Investment Management LLC now owns 12,667,369 shares of the company’s stock valued at $206,605,000 after acquiring an additional 779,973 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in 10x Genomics by 2.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,492,189 shares of the company’s stock valued at $89,578,000 after buying an additional 110,970 shares in the last quarter. Amova Asset Management Americas Inc. boosted its position in 10x Genomics by 2.0% in the 4th quarter. Amova Asset Management Americas Inc. now owns 5,486,153 shares of the company’s stock valued at $89,424,000 after buying an additional 109,270 shares during the period. Millennium Management LLC boosted its holdings in shares of 10x Genomics by 84.7% in the third quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock valued at $63,570,000 after purchasing an additional 2,494,142 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of 10x Genomics by 126.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock worth $50,099,000 after buying an additional 2,394,355 shares during the period. Institutional investors own 84.68% of the company’s stock.

Insider Transactions at 10x Genomics

In other news, CFO Adam Taich sold 15,098 shares of 10x Genomics stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total value of $368,995.12. Following the sale, the chief financial officer directly owned 379,898 shares of the company’s stock, valued at $9,284,707.12. The trade was a 3.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Serge Saxonov sold 30,000 shares of the business’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 of the company’s stock, valued at $38,172,607.20. The trade was a 2.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 91,309 shares of company stock valued at $2,581,357 in the last 90 days. Corporate insiders own 8.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TXG. JPMorgan Chase & Co. upped their price target on shares of 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Zacks Research downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Leerink Partners upped their price objective on shares of 10x Genomics from $23.00 to $40.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Canaccord Genuity Group increased their price objective on shares of 10x Genomics from $32.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, Bank of America increased their price objective on 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, April 20th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.08.

10x Genomics Stock Up 2.1%

Shares of NASDAQ TXG opened at $48.06 on Friday. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of -282.71 and a beta of 2.05. The company’s 50-day simple moving average is $34.19 and its 200-day simple moving average is $25.55. 10x Genomics has a 52-week low of $11.16 and a 52-week high of $49.50.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.19. The firm had revenue of $150.84 million during the quarter, compared to the consensus estimate of $146.41 million. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.28) EPS. Equities research analysts anticipate that 10x Genomics will post -0.78 EPS for the current fiscal year.

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.