Bayforest Capital Ltd Has $286,000 Holdings in 10x Genomics $TXG

Key Points

• Bayforest Capital Ltd cut its stake in 10x Genomics by 75.6% in Q4, selling 54,302 shares and leaving 17,525 shares worth about $286,000.
• Company insiders have been net sellers—CEO Serge Saxonov and CFO Adam Taich recently sold shares, with insiders selling 46,426 shares (≈$902,695) over the past 90 days and holding 10.03% of the stock.
• Analyst sentiment is mixed: the stock carries an average "Hold" rating with a $19.46 target, though Barclays raised its target to $30 and William Blair upgraded to "outperform"; TXG trades near its 52‑week high (~$26) with a market cap of $3.33B and a negative P/E.

Bayforest Capital Ltd cut its stake in 10x Genomics (NASDAQ:TXG - Free Report) by 75.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,525 shares of the company's stock after selling 54,302 shares during the period. Bayforest Capital Ltd's holdings in 10x Genomics were worth $286,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of TXG. Foundations Investment Advisors LLC bought a new position in 10x Genomics in the 3rd quarter valued at $665,000. AlphaQuest LLC boosted its position in 10x Genomics by 234.3% in the 3rd quarter. AlphaQuest LLC now owns 133,419 shares of the company's stock valued at $1,560,000 after buying an additional 93,514 shares during the last quarter. Friedenthal Financial bought a new position in shares of 10x Genomics in the 3rd quarter worth $924,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of 10x Genomics in the 3rd quarter worth $1,179,000. Finally, JPMorgan Chase & Co. boosted its position in shares of 10x Genomics by 777.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,073,865 shares of the company's stock worth $12,553,000 after purchasing an additional 951,495 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Serge Saxonov sold 10,000 shares of the business's stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $19.13, for a total transaction of $191,300.00. Following the completion of the sale, the chief executive officer owned 1,177,273 shares in the company, valued at $22,521,232.49. The trade was a 0.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Adam Taich sold 8,968 shares of the business's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total value of $166,625.44. Following the sale, the chief financial officer owned 288,417 shares of the company's stock, valued at approximately $5,358,787.86. This represents a 3.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 46,426 shares of company stock worth $902,695. Company insiders own 10.03% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TXG shares. Canaccord Genuity Group set a $22.00 price target on 10x Genomics in a research report on Friday, February 13th. Leerink Partners reduced their price target on 10x Genomics from $22.00 to $20.00 and set a "market perform" rating on the stock in a research report on Tuesday, January 27th. Barclays raised their price target on 10x Genomics from $22.00 to $30.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 14th. William Blair upgraded 10x Genomics from a "market perform" rating to an "outperform" rating in a research report on Tuesday, March 31st. Finally, Bank of America set a $21.00 price objective on 10x Genomics in a research note on Monday, January 12th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $19.46.

10x Genomics Stock Performance

NASDAQ:TXG opened at $26.08 on Monday. The stock's 50-day simple moving average is $20.69 and its 200 day simple moving average is $18.09. The company has a market cap of $3.33 billion, a P/E ratio of -74.51 and a beta of 2.17. 10x Genomics has a 52-week low of $7.25 and a 52-week high of $26.45.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.19) by $0.06. 10x Genomics had a negative return on equity of 6.89% and a negative net margin of 6.77%.The business had revenue of $166.03 million for the quarter, compared to the consensus estimate of $160.35 million. During the same quarter in the previous year, the business earned ($0.40) earnings per share. 10x Genomics's quarterly revenue was up .6% on a year-over-year basis. As a group, equities analysts predict that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

About 10x Genomics

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.

Want to see what other hedge funds are holding TXG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 10x Genomics (NASDAQ:TXG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.