58,083 Shares in 10x Genomics $TXG Acquired by Edgestream Partners L.P.

Key Points

• Edgestream Partners acquired 58,083 shares of 10x Genomics during the first quarter, valued at approximately $1.23 million. Institutional investors own 84.68% of the company.
• 10x Genomics reported quarterly revenue of $150.84 million, up 9.4% year over year, and posted an adjusted loss of $0.10 per share—better than analysts’ expected $0.29 loss.
• Analysts have raised several price targets, but the stock retains a consensus “Hold” rating with a $32.08 average target, below its reported trading price of $47.01.

Edgestream Partners L.P. bought a new position in 10x Genomics (NASDAQ:TXG - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 58,083 shares of the company's stock, valued at approximately $1,233,000.

Several other large investors have also recently bought and sold shares of TXG. Geneos Wealth Management Inc. bought a new position in shares of 10x Genomics in the fourth quarter worth $38,000. Larson Financial Group LLC boosted its stake in 10x Genomics by 164.4% during the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company's stock valued at $39,000 after buying an additional 1,470 shares during the period. Fifth Third Bancorp bought a new stake in 10x Genomics during the first quarter valued at $50,000. Van ECK Associates Corp grew its position in 10x Genomics by 85.9% during the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company's stock worth $60,000 after buying an additional 1,695 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in 10x Genomics by 203.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company's stock worth $87,000 after acquiring an additional 5,025 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

10x Genomics Trading Down 0.6%

Shares of 10x Genomics stock opened at $47.01 on Tuesday. The firm has a market capitalization of $5.97 billion, a PE ratio of -276.53 and a beta of 2.03. 10x Genomics has a 12 month low of $11.16 and a 12 month high of $50.34. The business's 50-day moving average price is $37.55 and its 200-day moving average price is $26.90.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $0.19. The company had revenue of $150.84 million during 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%.10x Genomics's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.28) EPS. As a group, analysts predict that 10x Genomics will post -0.78 earnings per share for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In related news, Director Shehnaaz Suliman sold 5,723 shares of 10x Genomics stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $32.63, for a total value of $186,741.49. Following the transaction, the director owned 31,722 shares in the company, valued at $1,035,088.86. This trade represents a 15.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benjamin J. Hindson sold 11,595 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total transaction of $283,381.80. Following the completion of the sale, the insider directly owned 502,000 shares of the company's stock, valued at $12,268,880. This represents a 2.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 91,309 shares of company stock valued at $2,581,357. Insiders own 8.84% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Canaccord Genuity Group lifted their price target on 10x Genomics from $32.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Morgan Stanley raised their target price on shares of 10x Genomics from $22.00 to $37.00 and gave the company an "equal weight" rating in a research note on Thursday, July 9th. Barclays lifted their target price on shares of 10x Genomics from $30.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, June 24th. Piper Sandler boosted their price target on shares of 10x Genomics from $20.00 to $42.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of 10x Genomics in a report on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $32.08.

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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