10x Genomics $TXG Stock Holdings Increased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its 10x Genomics stake by 34.6% in the first quarter, bringing its holdings to 2.04 million shares valued at approximately $43.4 million. Institutional investors collectively own 84.68% of TXG.
• 10x Genomics reported quarterly revenue of $150.84 million, up 9.4% year over year, and a loss of $0.10 per share—better than analysts’ expected $0.29 loss. The company’s stock opened at $47.01, near its 52-week high of $50.34.
• Analyst sentiment remains mixed, with an average “Hold” rating and a $32.08 target price, while insiders have sold 91,309 shares worth about $2.58 million over the past 90 days.

Dimensional Fund Advisors LP grew its holdings in shares of 10x Genomics (NASDAQ:TXG - Free Report) by 34.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,042,950 shares of the company's stock after acquiring an additional 525,369 shares during the quarter. Dimensional Fund Advisors LP owned about 1.60% of 10x Genomics worth $43,357,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of TXG. AQR Capital Management LLC raised its stake in shares of 10x Genomics by 241.3% during the second quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company's stock valued at $47,916,000 after purchasing an additional 2,925,372 shares in the last quarter. Millennium Management LLC lifted its holdings in 10x Genomics by 84.7% in the third quarter. Millennium Management LLC now owns 5,437,969 shares of the company's stock worth $63,570,000 after purchasing an additional 2,494,142 shares during the period. Wellington Management Group LLP grew its position in 10x Genomics by 126.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company's stock valued at $50,099,000 after buying an additional 2,394,355 shares in the last quarter. Quantinno Capital Management LP grew its position in 10x Genomics by 207.2% in the 2nd quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company's stock valued at $25,864,000 after buying an additional 1,506,530 shares in the last quarter. Finally, Casdin Capital LLC acquired a new position in 10x Genomics during the 4th quarter valued at about $22,834,000. Institutional investors own 84.68% of the company's stock.

10x Genomics Price Performance

10x Genomics stock opened at $47.01 on Tuesday. 10x Genomics has a fifty-two week low of $11.16 and a fifty-two week high of $50.34. The company has a market cap of $5.97 billion, a P/E ratio of -276.53 and a beta of 2.03. The firm's 50 day simple moving average is $37.55 and its 200-day simple moving average is $26.90.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.19. The company had revenue of $150.84 million for the quarter, compared to the consensus estimate of $146.41 million. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.28) EPS. On average, analysts expect that 10x Genomics will post -0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TXG has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of 10x Genomics from $22.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 9th. Barclays increased their price objective on shares of 10x Genomics from $30.00 to $40.00 and gave the company an "overweight" rating in a report on Wednesday, June 24th. Leerink Partners raised their price objective on shares of 10x Genomics from $23.00 to $40.00 and gave the company a "market perform" rating in a research note on Friday, July 17th. JPMorgan Chase & Co. boosted their target price on 10x Genomics from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Tuesday, May 12th. Finally, Zacks Research downgraded 10x Genomics from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 18th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $32.08.

Insider Activity

In related news, CEO Serge Saxonov sold 30,000 shares of 10x Genomics stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $34.44, for a total value of $1,033,200.00. Following the transaction, the chief executive officer owned 1,108,380 shares in the company, valued at $38,172,607.20. This trade represents a 2.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Shehnaaz Suliman sold 5,723 shares of the business's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $32.63, for a total transaction of $186,741.49. Following the transaction, the director directly owned 31,722 shares of the company's stock, valued at approximately $1,035,088.86. This represents a 15.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 91,309 shares of company stock worth $2,581,357. 8.84% of the stock is owned by company insiders.

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.

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