10x Genomics $TXG Stake Boosted by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp boosted its stake in 10x Genomics by 135.2% in Q3 to 76,909 shares (about 0.06% ownership, ~$899k), and several other institutions also raised positions, leaving institutional ownership at 84.68%.
• Analysts have lifted recent price targets (Barclays to $30, Stifel to $25, Citi to $24), but the consensus rating remains "Hold" with a $19.46 price target.
• Insiders have been selling recently—CEO Serge Saxonov and CFO Adam Taich disposed of shares, with total insider sales of 41,426 shares over the past three months; insiders now own 10.03% of the stock.

Tudor Investment Corp ET AL raised its holdings in 10x Genomics (NASDAQ:TXG - Free Report) by 135.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,909 shares of the company's stock after acquiring an additional 44,206 shares during the quarter. Tudor Investment Corp ET AL owned about 0.06% of 10x Genomics worth $899,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. CIBC Bancorp USA Inc. bought a new position in shares of 10x Genomics during the 3rd quarter worth about $134,000. Jacobs Levy Equity Management Inc. increased its holdings in 10x Genomics by 22.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,947,989 shares of the company's stock valued at $34,462,000 after buying an additional 550,250 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in 10x Genomics by 14.9% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 25,365 shares of the company's stock valued at $287,000 after buying an additional 3,296 shares during the period. XTX Topco Ltd increased its holdings in 10x Genomics by 41.0% in the 3rd quarter. XTX Topco Ltd now owns 81,070 shares of the company's stock valued at $948,000 after buying an additional 23,555 shares during the period. Finally, Voleon Capital Management LP increased its holdings in 10x Genomics by 73.9% in the 3rd quarter. Voleon Capital Management LP now owns 306,101 shares of the company's stock valued at $3,578,000 after buying an additional 130,094 shares during the period. Institutional investors own 84.68% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Bank of America set a $21.00 price target on shares of 10x Genomics in a report on Monday, January 12th. Canaccord Genuity Group set a $22.00 price target on shares of 10x Genomics in a report on Friday, February 13th. Citigroup boosted 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. Stifel Nicolaus boosted 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. Finally, Barclays boosted their target price on shares of 10x Genomics from $22.00 to $30.00 and gave the company an "overweight" rating in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, 10x Genomics currently has a consensus rating of "Hold" and a consensus price target of $19.46.

Insider Buying and Selling

In other news, CEO Serge Saxonov sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $19.52, for a total transaction of $97,600.00. Following the completion of the transaction, the chief executive officer directly owned 1,172,273 shares of the company's stock, valued at $22,882,768.96. This trade represents a 0.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Adam Taich sold 8,968 shares of the firm's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total transaction of $166,625.44. Following the transaction, the chief financial officer directly owned 288,417 shares of the company's stock, valued at $5,358,787.86. This represents a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 41,426 shares of company stock valued at $779,895. 10.03% of the stock is owned by corporate insiders.

10x Genomics Price Performance

Shares of TXG stock opened at $24.80 on Wednesday. The stock has a market cap of $3.17 billion, a PE ratio of -70.86 and a beta of 2.17. The stock has a 50-day moving average of $20.26 and a 200-day moving average of $17.80. 10x Genomics has a one year low of $7.25 and a one year high of $25.29.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.