10x Genomics (NASDAQ:TXG) Stock Holdings Lessened by New York State Common Retirement Fund

Key Points

• The New York State Common Retirement Fund drastically reduced its stake in 10x Genomics by 91.0%, now holding only 42,965 shares valued at approximately $375,000.
• Insider transactions included CEO Serge Saxonov and insider Benjamin J. Hindson selling shares, reflecting a decrease in their positions of 0.85% and 1.64%, respectively.
• Analysts have mixed ratings on the stock, with Goldman Sachs downgrading it to a "sell" and others maintaining "hold" to "overweight" ratings with a consensus target price around $13.23.

New York State Common Retirement Fund reduced its stake in shares of 10x Genomics (NASDAQ:TXG - Free Report) by 91.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,965 shares of the company's stock after selling 433,373 shares during the quarter. New York State Common Retirement Fund's holdings in 10x Genomics were worth $375,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TXG. GAMMA Investing LLC increased its position in 10x Genomics by 81.8% in the 1st quarter. GAMMA Investing LLC now owns 3,586 shares of the company's stock worth $31,000 after purchasing an additional 1,614 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of 10x Genomics during the 4th quarter valued at about $32,000. Versant Capital Management Inc grew its stake in shares of 10x Genomics by 4,184.4% in the 1st quarter. Versant Capital Management Inc now owns 12,082 shares of the company's stock valued at $105,000 after buying an additional 11,800 shares in the last quarter. Xponance Inc. grew its stake in shares of 10x Genomics by 17.4% in the 1st quarter. Xponance Inc. now owns 12,010 shares of the company's stock valued at $105,000 after buying an additional 1,778 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in 10x Genomics in the first quarter worth approximately $123,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at 10x Genomics

In other 10x Genomics news, insider Benjamin J. Hindson sold 7,485 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total value of $62,125.50. Following the sale, the insider directly owned 448,374 shares in the company, valued at $3,721,504.20. This trade represents a 1.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Serge Saxonov sold 9,343 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $77,546.90. Following the transaction, the chief executive officer directly owned 1,083,625 shares of the company's stock, valued at $8,994,087.50. This represents a 0.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,872 shares of company stock worth $173,238. Insiders own 9.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TXG. The Goldman Sachs Group reduced their target price on shares of 10x Genomics from $7.50 to $6.50 and set a "sell" rating for the company in a research note on Monday, May 12th. Bank of America lifted their price objective on shares of 10x Genomics from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Stephens reiterated an "overweight" rating and issued a $14.00 price objective on shares of 10x Genomics in a report on Thursday, May 15th. Barclays restated an "overweight" rating and set a $13.00 target price (up from $12.00) on shares of 10x Genomics in a report on Tuesday, June 24th. Finally, Wall Street Zen downgraded 10x Genomics from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $13.23.

10x Genomics Stock Performance

Shares of NASDAQ:TXG opened at $14.11 on Friday. The stock's 50-day moving average is $10.99 and its 200-day moving average is $10.91. The company has a market cap of $1.74 billion, a P/E ratio of -10.85 and a beta of 2.03. 10x Genomics has a 52-week low of $6.78 and a 52-week high of $24.76.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.09. The firm had revenue of $154.88 million during the quarter, compared to the consensus estimate of $131.91 million. 10x Genomics had a negative return on equity of 23.22% and a negative net margin of 25.14%. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.50) EPS. As a group, equities analysts predict that 10x Genomics will post -1.43 EPS for the current year.

10x Genomics Company 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.

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