Corient Private Wealth LLC Increases Position in 10x Genomics $TXG

Key Points

• Corient Private Wealth LLC increased its stake in 10x Genomics by 129.9% in the fourth quarter, buying an additional 84,197 shares and bringing its total holding to 149,027 shares worth about $2.43 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 84.68% of the company. Other major holders, including JPMorgan, Vanguard, and Citigroup, also recently increased their positions.
• 10x Genomics reported better-than-expected quarterly results, posting a smaller loss than analysts forecast and revenue that beat estimates, though analysts still rate the stock Hold overall with a consensus price target of $24.00.

Corient Private Wealth LLC increased its position in shares of 10x Genomics (NASDAQ:TXG - Free Report) by 129.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,027 shares of the company's stock after purchasing an additional 84,197 shares during the period. Corient Private Wealth LLC owned 0.12% of 10x Genomics worth $2,427,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake 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 worth $12,553,000 after acquiring an additional 951,495 shares during the period. Level Four Advisory Services LLC purchased a new stake in shares of 10x Genomics during the third quarter worth about $640,000. Dynamic Technology Lab Private Ltd raised its stake in 10x Genomics by 146.7% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 96,279 shares of the company's stock valued at $1,126,000 after purchasing an additional 57,256 shares during the period. Vanguard Group Inc. raised its stake in 10x Genomics by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 13,274,332 shares of the company's stock valued at $155,177,000 after purchasing an additional 834,272 shares during the period. Finally, Citigroup Inc. lifted its holdings in 10x Genomics by 55.3% in the 3rd quarter. Citigroup Inc. now owns 261,323 shares of the company's stock worth $3,055,000 after purchasing an additional 93,104 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TXG. Zacks Research lowered shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. JPMorgan Chase & Co. lifted their price objective on shares of 10x Genomics from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Tuesday, May 12th. Bank of America boosted their target price on shares of 10x Genomics from $21.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, April 20th. William Blair upgraded shares of 10x Genomics from a "market perform" rating to an "outperform" rating in a research report on Tuesday, March 31st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 10x Genomics in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, 10x Genomics has an average rating of "Hold" and a consensus price target of $24.00.

10x Genomics Price Performance

NASDAQ TXG opened at $36.75 on Monday. 10x Genomics has a 1-year low of $11.16 and a 1-year high of $37.05. The business has a 50 day simple moving average of $26.65 and a two-hundred day simple moving average of $22.11. The stock has a market capitalization of $4.67 billion, a PE ratio of -216.18 and a beta of 2.12.

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, topping the consensus estimate of ($0.29) by $0.19. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The business had revenue of $150.84 million for the quarter, compared to analysts' expectations of $146.41 million. During the same period in the prior year, the firm earned ($0.28) EPS. The company's revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts anticipate that 10x Genomics will post -0.79 EPS for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, insider Benjamin J. Hindson sold 11,595 shares of the business's stock in a transaction that occurred 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 sale, the insider directly 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 legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Adam Taich sold 15,098 shares of the company'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 value of $368,995.12. Following the sale, the chief financial officer owned 379,898 shares in the company, valued at approximately $9,284,707.12. This trade represents a 3.82% 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 90 days, insiders have sold 96,309 shares of company stock valued at $2,704,157. Corporate insiders own 8.84% of the company's stock.

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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