10x Genomics $TXG Stock: Simplify Asset Management Inc. Lowers Stake

Simplify Asset Management Inc. trimmed its stake in shares of 10x Genomics (NASDAQ:TXG - Free Report) by 76.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,239 shares of the company's stock after selling 224,699 shares during the quarter. Simplify Asset Management Inc.'s holdings in 10x Genomics were worth $6,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantinno Capital Management LP boosted its holdings in 10x Genomics by 16.0% in the first quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company's stock valued at $114,892,000 after acquiring an additional 744,558 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in 10x Genomics by 34.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,042,950 shares of the company's stock worth $43,357,000 after purchasing an additional 525,369 shares during the last quarter. Quantedge Capital Pte Ltd raised its holdings in 10x Genomics by 104.2% during the 1st quarter. Quantedge Capital Pte Ltd now owns 416,553 shares of the company's stock worth $8,843,000 after purchasing an additional 212,600 shares during the last quarter. Hsbc Holdings PLC bought a new position in 10x Genomics during the 1st quarter worth approximately $5,945,000. Finally, Swiss National Bank lifted its position in shares of 10x Genomics by 2.2% in the 1st quarter. Swiss National Bank now owns 207,400 shares of the company's stock worth $4,403,000 after purchasing an additional 4,400 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John R. Stuelpnagel sold 20,000 shares of 10x Genomics stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $61.75, for a total value of $1,235,000.00. Following the completion of the sale, the director owned 328,436 shares of the company's stock, valued at approximately $20,280,923. This trade represents a 5.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Adam Taich sold 46,388 shares of the business's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $64.57, for a total transaction of $2,995,273.16. Following the sale, the chief financial officer owned 316,344 shares of the company's stock, valued at $20,426,332.08. This trade represents a 12.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 179,333 shares of company stock worth $11,810,070 over the last quarter. Corporate insiders own 8.84% of the company's stock.

Wall Street Analysts Forecast Growth

TXG has been the topic of a number of analyst reports. Piper Sandler upped their price objective on shares of 10x Genomics from $47.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, September 28th. UBS Group assumed coverage on shares of 10x Genomics in a research note on Wednesday, September 9th. They set a "neutral" rating and a $68.00 target price for the company. Leerink Partners lifted their target price on shares of 10x Genomics from $40.00 to $90.00 and gave the stock a "market perform" rating in a research note on Tuesday, September 29th. Stephens lowered shares of 10x Genomics from an "overweight" rating to an "equal weight" rating in a report on Friday, October 23rd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 10x Genomics in a research report on Monday, September 21st. Five research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, 10x Genomics presently has an average rating of "Hold" and an average target price of $68.00.

10x Genomics Stock Performance

Shares of NASDAQ:TXG opened at $83.62 on Thursday. The business's 50 day simple moving average is $73.66 and its two-hundred day simple moving average is $40.00. The firm has a market cap of $10.89 billion, a P/E ratio of -141.73 and a beta of 1.99. 10x Genomics has a 52-week low of $12.34 and a 52-week high of $102.81.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.24) by $0.10. The firm had revenue of $151.04 million during the quarter, compared to analysts' expectations of $146.67 million. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%. The company's revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 earnings per share. On average, equities analysts forecast that 10x Genomics will post -0.77 earnings per share for the current fiscal year.

10x Genomics Profile

10x Genomics, Inc is a life sciences technology company that develops tools for analyzing biological systems at the single-cell and spatial levels. Its technologies are designed to help researchers study gene expression, cellular interactions, tissue organization and other biological processes in greater detail than conventional laboratory methods.

The company's product portfolio includes the Chromium platform for single-cell analysis, the Visium platform for spatial transcriptomics, and the Xenium platform for high-resolution in situ analysis of tissue samples.

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