Cresset Asset Management LLC Sells 95,302 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

Cresset Asset Management LLC trimmed its position in shares of 10x Genomics, Inc. (NASDAQ:TXG - Free Report) by 69.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,619 shares of the company's stock after selling 95,302 shares during the period. Cresset Asset Management LLC's holdings in 10x Genomics were worth $598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Atria Wealth Solutions Inc. boosted its holdings in shares of 10x Genomics by 9.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company's stock worth $155,000 after buying an additional 943 shares during the period. Blue Trust Inc. boosted its holdings in shares of 10x Genomics by 73.1% during the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock worth $44,000 after buying an additional 1,299 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of 10x Genomics by 65.2% during the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company's stock worth $48,000 after buying an additional 1,330 shares during the period. Signaturefd LLC boosted its holdings in 10x Genomics by 424.6% in the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company's stock valued at $26,000 after purchasing an additional 1,452 shares during the period. Finally, KBC Group NV boosted its holdings in 10x Genomics by 57.3% in the 4th quarter. KBC Group NV now owns 5,072 shares of the company's stock valued at $73,000 after purchasing an additional 1,847 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

10x Genomics Price Performance

TXG stock traded up $0.19 during trading on Friday, reaching $9.39. 3,013,323 shares of the company were exchanged, compared to its average volume of 2,364,889. The company has a 50-day moving average of $8.77 and a two-hundred day moving average of $12.36. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -6.18 and a beta of 1.94. 10x Genomics, Inc. has a twelve month low of $6.78 and a twelve month high of $25.65.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.45) by $0.09. The business had revenue of $154.88 million during the quarter, compared to analysts' expectations of $131.91 million. 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.50) EPS. On average, analysts forecast that 10x Genomics, Inc. will post -1.43 EPS for the current year.

Insider Buying and Selling

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,573 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of the transaction, the insider now directly owns 335,324 shares in the company, valued at approximately $3,712,036.68. This represents a 1.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Serge Saxonov sold 5,092 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $56,368.44. Following the completion of the transaction, the chief executive officer now owns 879,482 shares of the company's stock, valued at approximately $9,735,865.74. This trade represents a 0.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.39% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of 10x Genomics from $12.00 to $9.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Weiss Ratings reissued a "sell (e+)" rating on shares of 10x Genomics in a report on Saturday, May 10th. The Goldman Sachs Group cut their price objective on shares of 10x Genomics from $7.50 to $6.50 and set a "sell" rating for the company in a report on Monday. Barclays cut their price objective on shares of 10x Genomics from $15.00 to $12.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Stephens reissued an "overweight" rating and issued a $14.00 price objective on shares of 10x Genomics in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $16.42.

10x Genomics Profile

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.