44,600 10x Genomics $TXG Shares Bought by Maxi Investments CY Ltd

Key Points

• Maxi Investments CY Ltd increased its 10x Genomics stake by 270.3% in the third quarter, purchasing 44,600 additional shares and bringing its total holdings to 61,100 shares valued at approximately $5.52 million.
• Institutional investors own 84.68% of 10x Genomics, while company insiders sold 179,333 shares worth $11.81 million over the past three months.
• Analysts maintain a consensus “Hold” rating with an average price target of $68, despite several firms raising targets as high as $110. The stock recently opened at $72.96, and the company continues to report losses despite quarterly revenue and earnings exceeding estimates.

Maxi Investments CY Ltd boosted its holdings in 10x Genomics (NASDAQ:TXG - Free Report) by 270.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,100 shares of the company's stock after buying an additional 44,600 shares during the period. 10x Genomics makes up about 1.0% of Maxi Investments CY Ltd's investment portfolio, making the stock its 24th largest position. Maxi Investments CY Ltd's holdings in 10x Genomics were worth $5,521,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in shares of 10x Genomics by 29.9% during the third quarter. Farther Finance Advisors LLC now owns 934 shares of the company's stock valued at $84,000 after buying an additional 215 shares during the last quarter. GAMMA Investing LLC grew its position in 10x Genomics by 8.7% during the third quarter. GAMMA Investing LLC now owns 4,668 shares of the company's stock worth $422,000 after buying an additional 374 shares in the last quarter. Arizona State Retirement System grew its position in 10x Genomics by 1.5% during the second quarter. Arizona State Retirement System now owns 29,223 shares of the company's stock worth $1,120,000 after buying an additional 430 shares in the last quarter. Carolina Wealth Advisors LLC bought a new position in 10x Genomics during the third quarter valued at about $46,000. Finally, Nisa Investment Advisors LLC increased its stake in 10x Genomics by 11.7% during the third quarter. Nisa Investment Advisors LLC now owns 6,239 shares of the company's stock valued at $564,000 after acquiring an additional 653 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 10x Genomics news, Director John R. Stuelpnagel sold 20,000 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $61.75, for a total transaction of $1,235,000.00. Following the sale, the director owned 328,436 shares of the company's stock, valued at $20,280,923. This represents a 5.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shehnaaz Suliman sold 5,723 shares of the firm's stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $81.19, for a total transaction of $464,650.37. Following the completion of the sale, the director owned 23,792 shares of the company's stock, valued at $1,931,672.48. The trade was a 19.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 179,333 shares of company stock valued at $11,810,070 over the last three months. Company insiders own 8.84% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on TXG. Canaccord Genuity Group raised their price objective on 10x Genomics from $60.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, October 12th. UBS Group began coverage on 10x Genomics in a research report on Wednesday, September 9th. They set a "neutral" rating and a $68.00 price objective on the stock. Leerink Partners boosted their price objective on 10x Genomics from $40.00 to $90.00 and gave the company a "market perform" rating in a research report on Tuesday, September 29th. Argus began coverage on 10x Genomics in a research note on Monday, September 28th. They issued a "buy" rating and a $110.00 target price for the company. Finally, Royal Bank Of Canada started coverage on 10x Genomics in a research report on Tuesday, September 1st. They issued a "sector perform" rating and a $70.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, 10x Genomics presently has a consensus rating of "Hold" and an average price target of $68.00.

10x Genomics Price Performance

Shares of TXG opened at $72.96 on Tuesday. The company has a market capitalization of $9.51 billion, a P/E ratio of -123.66 and a beta of 1.99. 10x Genomics has a one year low of $12.34 and a one year high of $102.81. The business's 50 day simple moving average is $72.70 and its 200-day simple moving average is $39.39.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share 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 business's revenue was down 12.7% on a year-over-year basis. During the same period last year, the firm posted $0.28 EPS. On average, sell-side analysts anticipate that 10x Genomics will post -0.77 EPS 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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