Cookson Peirce & Co. Inc. Takes Position in 10x Genomics $TXG

Key Points

• Cookson Peirce & Co. Inc. initiated a new position in 10x Genomics, buying 35,000 shares worth about $571,000 in the fourth quarter.
• Other institutions also increased their exposure, including AQR Capital, Millennium Management, Wellington, Quantinno, and JPMorgan, while institutional investors now own 84.68% of the company.
• 10x Genomics reported quarterly results that beat expectations, with EPS of -$0.10 versus estimates of -$0.29 and revenue of $150.84 million, up 9.4% year over year; however, analysts still hold a consensus “Hold” rating.

Cookson Peirce & Co. Inc. purchased a new stake in 10x Genomics (NASDAQ:TXG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 35,000 shares of the company's stock, valued at approximately $571,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TXG. AQR Capital Management LLC boosted its holdings in shares of 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 buying an additional 2,925,372 shares during the period. Millennium Management LLC boosted its holdings in shares of 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 buying an additional 2,494,142 shares during the period. Wellington Management Group LLP boosted its holdings in shares of 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 buying an additional 2,394,355 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of 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 buying an additional 1,506,530 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of 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 buying an additional 951,495 shares during the period. Institutional investors and hedge funds own 84.68% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TXG. Deutsche Bank Aktiengesellschaft set a $17.00 price target on shares of 10x Genomics and gave the company a "hold" rating in a report on Friday, February 13th. Canaccord Genuity Group upped their price target on shares of 10x Genomics from $22.00 to $32.00 and gave the company a "buy" rating in a report on Monday, April 20th. Bank of America upped their price target on shares of 10x Genomics from $21.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, April 20th. Stifel Nicolaus upped their price target 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. Finally, UBS Group increased their target price on shares of 10x Genomics from $14.00 to $20.00 and gave the stock a "neutral" rating in a report on Friday, February 20th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $23.17.

10x Genomics Trading Down 6.0%

Shares of TXG opened at $29.18 on Tuesday. 10x Genomics has a 12 month low of $9.30 and a 12 month high of $35.65. The firm has a fifty day simple moving average of $23.83 and a 200 day simple moving average of $20.69. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of -171.65 and a beta of 2.12.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $146.41 million. During the same quarter in the prior year, the company posted ($0.28) earnings per share. The firm's revenue was up 9.4% on a year-over-year basis. As a group, research analysts predict that 10x Genomics will post -0.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Benjamin J. Hindson sold 11,595 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $283,381.80. Following the completion of the transaction, the insider owned 502,000 shares in the company, valued at approximately $12,268,880. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Serge Saxonov sold 18,175 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $444,197.00. Following the completion of the sale, the chief executive officer owned 1,149,098 shares of the company's stock, valued at approximately $28,083,955.12. This represents a 1.56% 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 90 days, insiders sold 75,586 shares of company stock worth $1,773,116. 8.84% of the stock is owned by 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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