10x Genomics $TXG Shares Newly Acquired by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC purchased a new stake in 10x Genomics (NASDAQ:TXG) in the 3rd quarter, HoldingsChannel reports. The firm purchased 125,769 shares of the company’s stock, valued at approximately $11,364,000. 10x Genomics accounts for approximately 0.9% of Counterpoint Mutual Funds LLC’s investment portfolio, making the stock its 10th biggest position.

A number of other large investors also recently bought and sold shares of TXG. Fifth Third Bancorp acquired a new position in 10x Genomics in the 1st quarter worth about $50,000. Elevation Wealth Partners LLC boosted its position in 10x Genomics by 332.3% during the second 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 in the last quarter. V Square Quantitative Management LLC acquired a new stake in 10x Genomics in the third quarter valued at approximately $68,000. Farther Finance Advisors LLC grew its holdings in 10x Genomics by 29.9% in the third quarter. Farther Finance Advisors LLC now owns 934 shares of the company’s stock valued at $84,000 after purchasing an additional 215 shares during the period. Finally, Nykredit A S acquired a new stake in 10x Genomics in the second quarter valued at approximately $126,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Activity

In related news, Director Shehnaaz Suliman sold 5,723 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $81.19, for a total transaction of $464,650.37. Following the completion of the sale, the director directly owned 23,792 shares in the company, valued at approximately $1,931,672.48. The trade was a 19.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Serge Saxonov sold 25,000 shares of the stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $81.22, for a total value of $2,030,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,050,249 shares of the company’s stock, valued at approximately $85,301,223.78. This represents a 2.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 179,333 shares of company stock valued at $11,810,070 in the last three months. Company insiders own 8.84% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on TXG shares. Argus initiated coverage on 10x Genomics in a research report on Monday, September 28th. They issued a “buy” rating and a $110.00 price objective for the company. Barclays increased their target price on 10x Genomics from $52.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Piper Sandler increased their target price on 10x Genomics from $47.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, September 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of 10x Genomics in a research note on Monday, September 21st. Finally, Citigroup lifted their price target on shares of 10x Genomics from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $68.00.

10x Genomics Trading Down 3.5%

NASDAQ:TXG opened at $69.86 on Friday. 10x Genomics has a 12 month low of $11.81 and a 12 month high of $102.81. The stock has a 50 day moving average of $71.11 and a two-hundred day moving average of $45.49. The firm has a market cap of $9.10 billion, a P/E ratio of -118.40 and a beta of 1.99.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, August 6th. The company reported ($0.14) EPS 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 analysts’ expectations of $146.67 million. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%. The business’s revenue was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 earnings per share. On average, research analysts forecast that 10x Genomics will post -0.75 earnings per share for the current year.

10x Genomics Company Profile

10x Genomics, Inc is a life sciences technology company that develops tools for analyzing biological systems at high resolution. Its platforms are used by academic and government research institutions, pharmaceutical and biotechnology companies, and other organizations studying genomics, cell biology, immunology, neuroscience, and disease mechanisms.

The company’s product portfolio includes the Chromium platform for single-cell and other multiomics analyses, the Visium platform for spatial analysis of tissue, and the Xenium platform for high-plex in situ analysis of gene expression.