10x Genomics $TXG Shares Bought by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group raised its stake in 10x Genomics by 2.1% in Q4 to 5,492,189 shares, representing a 4.34% ownership worth about $89.6 million.
• 10x Genomics beat the quarter's estimates with adjusted EPS of ($0.13) vs. a ($0.19) consensus and revenue of $166.03 million vs. $160.35 million, but remains unprofitable with a negative net margin (-6.77%) and only 0.6% revenue growth year‑over‑year.
• Institutional investors hold 84.68% of the stock, insiders sold roughly 41,426 shares last quarter (insiders now own 10.03%), and analysts' average rating is a "Hold" with an average target price of $18.89.

Sumitomo Mitsui Trust Group Inc. lifted its stake in 10x Genomics (NASDAQ:TXG - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,492,189 shares of the company's stock after acquiring an additional 110,970 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 4.34% of 10x Genomics worth $89,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in TXG. Royal Bank of Canada lifted its stake in shares of 10x Genomics by 806.4% in the 1st quarter. Royal Bank of Canada now owns 182,836 shares of the company's stock worth $1,597,000 after acquiring an additional 162,665 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of 10x Genomics by 163.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company's stock worth $5,634,000 after acquiring an additional 400,430 shares during the period. Focus Partners Wealth acquired a new stake in shares of 10x Genomics in the 1st quarter worth approximately $92,000. Legal & General Group Plc lifted its stake in shares of 10x Genomics by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 110,864 shares of the company's stock worth $1,284,000 after acquiring an additional 5,985 shares during the period. Finally, American Century Companies Inc. acquired a new stake in shares of 10x Genomics in the 2nd quarter worth approximately $933,000. 84.68% of the stock is owned by institutional investors and hedge funds.

10x Genomics Trading Up 1.3%

Shares of NASDAQ TXG opened at $23.58 on Tuesday. 10x Genomics has a twelve month low of $7.25 and a twelve month high of $24.30. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of -67.37 and a beta of 2.17. The firm has a 50-day moving average of $20.15 and a two-hundred day moving average of $17.71.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.19) by $0.06. The company had revenue of $166.03 million during the quarter, compared to the consensus estimate of $160.35 million. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. 10x Genomics's revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.40) EPS. As a group, research analysts predict that 10x Genomics will post -1.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TXG. Deutsche Bank Aktiengesellschaft set a $17.00 price target on shares of 10x Genomics and gave the stock a "hold" rating in a research note on Friday, February 13th. Leerink Partners cut their price target on shares of 10x Genomics from $22.00 to $20.00 and set a "market perform" rating for the company in a report on Tuesday, January 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of 10x Genomics in a report on Friday, March 27th. Citigroup upped their price target on shares of 10x Genomics from $18.00 to $24.00 and gave the company a "neutral" rating in a report on Tuesday, April 7th. Finally, Stifel Nicolaus upped their price target on shares of 10x Genomics from $20.00 to $25.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $18.89.

Insiders Place Their Bets

In other 10x Genomics news, insider Benjamin J. Hindson sold 7,826 shares of the business's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $18.58, for a total transaction of $145,407.08. Following the sale, the insider owned 424,779 shares in the company, valued at approximately $7,892,393.82. The trade was a 1.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Adam Taich sold 8,968 shares of the business's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $18.58, for a total value of $166,625.44. Following the sale, the chief financial officer owned 288,417 shares in the company, valued at approximately $5,358,787.86. The trade was a 3.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 41,426 shares of company stock worth $779,895. Company insiders own 10.03% of the company's stock.

About 10x Genomics

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.

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