Millennium Management LLC Buys 4,371,327 Shares of 10x Genomics $TXG

Key Points

• Millennium Management LLC has significantly increased its holdings in 10x Genomics by 434.5%, now owning approximately 4.40% of the company's shares valued at nearly $46.9 million.
• 10x Genomics reported strong financial results with $172.91 million in revenue for the last quarter, surpassing analyst expectations, and an EPS of $0.28, beating the consensus estimate.
• Analysts have mixed ratings for 10x Genomics, with an average price target of $13.54 and several revisions, including an upgrade to $14.00 from Stephens and a downgrade to $6.50 from Goldman Sachs.

Millennium Management LLC boosted its stake in 10x Genomics (NASDAQ:TXG - Free Report) by 434.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,377,492 shares of the company's stock after purchasing an additional 4,371,327 shares during the quarter. Millennium Management LLC owned about 4.40% of 10x Genomics worth $46,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. ARK Investment Management LLC raised its stake in 10x Genomics by 7.5% in the first quarter. ARK Investment Management LLC now owns 12,845,713 shares of the company's stock valued at $112,143,000 after purchasing an additional 901,656 shares in the last quarter. Vanguard Group Inc. grew its position in 10x Genomics by 1.7% during the first quarter. Vanguard Group Inc. now owns 11,118,086 shares of the company's stock valued at $97,061,000 after acquiring an additional 184,537 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 10x Genomics by 10.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company's stock valued at $30,394,000 after acquiring an additional 193,588 shares during the last quarter. Voloridge Investment Management LLC grew its position in 10x Genomics by 12.1% during the fourth quarter. Voloridge Investment Management LLC now owns 1,585,965 shares of the company's stock valued at $22,774,000 after acquiring an additional 171,161 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in 10x Genomics by 291.2% during the fourth quarter. Two Sigma Investments LP now owns 1,319,487 shares of the company's stock valued at $18,948,000 after acquiring an additional 982,203 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

10x Genomics Stock Performance

TXG stock traded down $0.42 on Friday, reaching $12.64. The company's stock had a trading volume of 2,515,960 shares, compared to its average volume of 3,326,400. The business has a fifty day simple moving average of $13.22 and a two-hundred day simple moving average of $10.80. 10x Genomics has a 12-month low of $6.78 and a 12-month high of $24.38. The firm has a market cap of $1.57 billion, a PE ratio of -18.06 and a beta of 2.00.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of ($0.35) by $0.63. The business had revenue of $172.91 million during the quarter, compared to analyst estimates of $139.36 million. 10x Genomics had a negative return on equity of 12.88% and a negative net margin of 13.13%.The company's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.32) earnings per share. 10x Genomics has set its Q3 2025 guidance at EPS. As a group, research analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley reduced their price target on shares of 10x Genomics from $18.00 to $17.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 12th. Bank of America increased their price target on shares of 10x Genomics from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft set a $14.00 price target on shares of 10x Genomics and gave the company a "hold" rating in a research report on Friday, August 8th. Weiss Ratings reiterated a "sell (e+)" rating on shares of 10x Genomics in a research report on Saturday, August 30th. Finally, Barclays reiterated an "overweight" rating and set a $15.00 price target (up from $13.00) on shares of 10x Genomics in a research report on Friday, August 8th. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $13.65.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, insider Benjamin J. Hindson sold 7,486 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $13.79, for a total transaction of $103,231.94. Following the completion of the transaction, the insider owned 440,888 shares of the company's stock, valued at approximately $6,079,845.52. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Serge Saxonov sold 9,348 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $13.79, for a total value of $128,908.92. Following the transaction, the chief executive officer directly owned 945,892 shares of the company's stock, valued at $13,043,850.68. This represents a 0.98% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,149 shares of company stock valued at $539,865. 9.39% of the stock is currently owned by company insiders.

About 10x Genomics

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.