Quantinno Capital Management LP Grows Stock Position in 10x Genomics $TXG

Quantinno Capital Management LP lifted its position in 10x Genomics (NASDAQ:TXG) by 16.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,411,761 shares of the company’s stock after acquiring an additional 744,558 shares during the period. Quantinno Capital Management LP owned 4.26% of 10x Genomics worth $114,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in 10x Genomics by 241.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock worth $47,916,000 after purchasing an additional 2,925,372 shares during the last quarter. Millennium Management LLC raised its position 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 buying an additional 2,494,142 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of 10x Genomics by 126.6% in the third 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 in the last quarter. Casdin Capital LLC purchased a new position in shares of 10x Genomics in the fourth quarter worth about $22,834,000. Finally, Freshford Capital Management LLC acquired a new position in 10x Genomics during the fourth quarter worth about $13,591,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

10x Genomics Trading Down 0.8%

10x Genomics stock opened at $45.92 on Tuesday. 10x Genomics has a 12-month low of $11.16 and a 12-month high of $49.50. The stock has a market cap of $5.83 billion, a P/E ratio of -270.12 and a beta of 2.05. The company has a 50-day moving average price of $35.18 and a 200 day moving average price of $25.93.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TXG. Citigroup upped their price objective on shares of 10x Genomics from $24.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Canaccord Genuity Group boosted their target price on 10x Genomics from $32.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. William Blair upgraded 10x Genomics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 10x Genomics in a report on Wednesday, June 24th. Finally, TD Cowen reiterated a “hold” rating on shares of 10x Genomics in a research report on Wednesday, July 15th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.08.

Insiders Place Their Bets

In other 10x Genomics news, Director Shehnaaz Suliman sold 5,723 shares of the firm’s stock in a transaction 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 completion of the sale, the director owned 31,722 shares of the company’s stock, valued at $1,035,088.86. This trade represents a 15.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Serge Saxonov sold 30,000 shares of 10x Genomics stock in a transaction on 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 owned 1,108,380 shares in the company, valued at $38,172,607.20. This represents a 2.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 91,309 shares of company stock valued at $2,581,357. Insiders own 8.84% of the company’s stock.

10x Genomics Company 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.