Capricorn Fund Managers Ltd Invests $2.16 Million in 10x Genomics $TXG

Key Points

• Capricorn Fund Managers opened a new position in 10x Genomics during the first quarter, buying 101,800 shares worth about $2.16 million, or roughly 0.08% of the company.
• Insider selling has been notable: over the past 90 days, insiders sold 96,309 shares worth $2.7 million, including recent sales by Benjamin J. Hindson and director Shehnaaz Suliman.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and an average price target of $24, even as the stock trades near its 12-month high after a recent 3.2% gain.

Capricorn Fund Managers Ltd acquired a new stake in 10x Genomics (NASDAQ:TXG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 101,800 shares of the company's stock, valued at approximately $2,161,000. Capricorn Fund Managers Ltd owned about 0.08% of 10x Genomics at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Impact Partnership Wealth LLC acquired a new stake in shares of 10x Genomics in the 1st quarter valued at $221,000. Cornerstone Wealth Group LLC lifted its position in shares of 10x Genomics by 18.1% during the 1st quarter. Cornerstone Wealth Group LLC now owns 16,177 shares of the company's stock worth $372,000 after buying an additional 2,481 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in 10x Genomics by 170.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 17,186 shares of the company's stock valued at $280,000 after buying an additional 10,830 shares in the last quarter. Corient Private Wealth LLC boosted its stake in 10x Genomics by 129.9% in the fourth quarter. Corient Private Wealth LLC now owns 149,027 shares of the company's stock valued at $2,427,000 after buying an additional 84,197 shares in the last quarter. Finally, Invesco Ltd. grew its position in 10x Genomics by 21.2% in the fourth quarter. Invesco Ltd. now owns 334,300 shares of the company's stock valued at $5,452,000 after acquiring an additional 58,537 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at 10x Genomics

In related news, insider Benjamin J. Hindson sold 11,595 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total value of $283,381.80. Following the sale, the insider owned 502,000 shares of the company's stock, valued at $12,268,880. The trade was a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Shehnaaz Suliman sold 5,723 shares of the 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 completion of the sale, the director owned 31,722 shares of the company's stock, valued at $1,035,088.86. The trade was a 15.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 96,309 shares of company stock worth $2,704,157 over the last ninety days. Insiders own 8.84% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on TXG shares. Morgan Stanley increased their target price on shares of 10x Genomics from $20.00 to $22.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 10x Genomics in a report on Wednesday, June 24th. Citigroup upped their price objective on shares of 10x Genomics from $18.00 to $24.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 7th. William Blair raised shares of 10x Genomics from a "market perform" rating to an "outperform" rating in a research note on Tuesday, March 31st. Finally, Zacks Research lowered shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 18th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $24.00.

10x Genomics Trading Up 3.2%

Shares of TXG stock opened at $38.34 on Wednesday. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of -225.53 and a beta of 2.12. The business's 50-day moving average price is $27.13 and its 200-day moving average price is $22.39. 10x Genomics has a 12 month low of $11.16 and a 12 month high of $38.68.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.19. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The business had revenue of $150.84 million during the quarter, compared to analyst estimates of $146.41 million. During the same quarter last year, the business earned ($0.28) EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts predict that 10x Genomics will post -0.79 earnings per share for the current fiscal year.

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.

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.