CenterBook Partners LP Invests $3.76 Million in 10x Genomics $TXG

Key Points

• CenterBook Partners LP opened a new position in 10x Genomics, buying 230,772 shares worth about $3.76 million in the fourth quarter.
• The stock was down 6.0% in Tuesday trading, opening at $29.18, while still trading near its 52-week high of $35.65.
• 10x Genomics recently beat quarterly expectations, reporting losses of $0.10 per share versus the expected $0.29 loss and revenue of $150.84 million, up 9.4% year over year.

CenterBook Partners LP bought a new stake in 10x Genomics (NASDAQ:TXG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 230,772 shares of the company's stock, valued at approximately $3,764,000. CenterBook Partners LP owned approximately 0.18% of 10x Genomics as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TXG. AQR Capital Management LLC raised its holdings in 10x Genomics by 241.3% in the second quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company's stock valued at $47,916,000 after acquiring an additional 2,925,372 shares in the last quarter. Millennium Management LLC raised its holdings in 10x Genomics by 84.7% in the third quarter. Millennium Management LLC now owns 5,437,969 shares of the company's stock valued at $63,570,000 after acquiring an additional 2,494,142 shares in the last quarter. Wellington Management Group LLP raised its holdings in 10x Genomics by 126.6% in the third quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company's stock valued at $50,099,000 after acquiring an additional 2,394,355 shares in the last quarter. Quantinno Capital Management LP raised its holdings in 10x Genomics by 207.2% in the second quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company's stock valued at $25,864,000 after acquiring an additional 1,506,530 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in 10x Genomics by 777.6% in the third quarter. JPMorgan Chase & Co. now owns 1,073,865 shares of the company's stock valued at $12,553,000 after acquiring an additional 951,495 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

10x Genomics Trading Down 6.0%

TXG stock opened at $29.18 on Tuesday. 10x Genomics has a twelve month low of $9.30 and a twelve month high of $35.65. The company's 50 day moving average is $23.83 and its two-hundred day moving average is $20.69. The stock has a market cap of $3.70 billion, a P/E ratio of -171.65 and a beta of 2.12.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its quarterly earnings data 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. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The company had revenue of $150.84 million for the quarter, compared to analysts' expectations of $146.41 million. During the same quarter last year, the company earned ($0.28) earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts predict that 10x Genomics will post -0.79 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on TXG. Citigroup raised their target price on shares of 10x Genomics from $18.00 to $24.00 and gave the company a "neutral" rating in a report on Tuesday, April 7th. JPMorgan Chase & Co. raised their target price on shares of 10x Genomics from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Tuesday, May 12th. Stifel Nicolaus raised their target price on shares of 10x Genomics from $20.00 to $25.00 and gave the company a "buy" rating in a report on Monday, March 2nd. William Blair raised shares of 10x Genomics from a "market perform" rating to an "outperform" rating in a report on Tuesday, March 31st. Finally, Zacks Research cut shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, 10x Genomics has an average rating of "Hold" and an average price target of $23.17.

Insiders Place Their Bets

In other 10x Genomics news, CFO Adam Taich sold 15,098 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $368,995.12. Following the sale, the chief financial officer owned 379,898 shares of the company's stock, valued at approximately $9,284,707.12. This trade represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Serge Saxonov sold 10,718 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $24.71, for a total transaction of $264,841.78. Following the sale, the chief executive officer directly owned 1,138,380 shares in the company, valued at approximately $28,129,369.80. The trade was a 0.93% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 75,586 shares of company stock valued at $1,773,116. 8.84% of the stock is owned by corporate insiders.

10x Genomics 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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