Corient Private Wealth LP Has $6.57 Million Stake in 10x Genomics $TXG

Key Points

• Corient Private Wealth reduced its 10x Genomics stake by 18.9% in the second quarter, retaining 171,288 shares valued at approximately $6.57 million. Institutional investors collectively own 84.68% of the company.
• 10x Genomics insiders sold 178,610 shares worth about $10.35 million during the latest quarter, including sales by CEO Serge Saxonov and insider Benjamin Hindson.
• Analysts maintain a consensus “Hold” rating with a $44 target price, while TXG recently traded at $76.97. The company exceeded quarterly revenue and EPS expectations, but revenue fell 12.7% year over year and it remains unprofitable.

Corient Private Wealth LP reduced its stake in shares of 10x Genomics (NASDAQ:TXG - Free Report) by 18.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,288 shares of the company's stock after selling 39,982 shares during the quarter. Corient Private Wealth LP owned about 0.13% of 10x Genomics worth $6,567,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in 10x Genomics in the 2nd quarter worth approximately $2,377,000. HB Wealth Management LLC acquired a new position in 10x Genomics during the 2nd quarter worth $285,000. Three Seasons Wealth LLC bought a new position in 10x Genomics in the 2nd quarter valued at $208,000. Concurrent Investment Advisors LLC bought a new position in 10x Genomics in the 2nd quarter valued at $213,000. Finally, Nykredit A S acquired a new stake in shares of 10x Genomics in the 2nd quarter valued at $126,000. Institutional investors and hedge funds own 84.68% of the company's stock.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 10,486 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $63.69, for a total transaction of $667,853.34. Following the completion of the transaction, the chief executive officer owned 1,075,349 shares in the company, valued at approximately $68,488,977.81. This represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benjamin J. Hindson sold 13,818 shares of the company's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $63.02, for a total value of $870,810.36. Following the transaction, the insider directly owned 488,182 shares of the company's stock, valued at $30,765,229.64. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 178,610 shares of company stock worth $10,348,120 in the last quarter. Company insiders own 8.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TXG. Royal Bank Of Canada initiated coverage on 10x Genomics in a research report on Tuesday, September 1st. They set a "sector perform" rating and a $70.00 target price for the company. Piper Sandler raised their price target on 10x Genomics from $42.00 to $47.00 and gave the company a "neutral" rating in a report on Monday, August 10th. TD Cowen reiterated a "hold" rating on shares of 10x Genomics in a research report on Wednesday, July 15th. Morgan Stanley boosted their price objective on 10x Genomics from $37.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Finally, Stifel Nicolaus set a $50.00 target price on shares of 10x Genomics in a research report on Friday, August 7th. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $44.00.

10x Genomics Price Performance

Shares of TXG stock opened at $76.97 on Friday. The stock has a 50-day moving average of $56.39 and a 200-day moving average of $36.59. 10x Genomics has a one year low of $11.16 and a one year high of $79.94. The stock has a market cap of $10.03 billion, a PE ratio of -130.46 and a beta of 2.08.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.10. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The firm had revenue of $151.04 million during the quarter, compared to the consensus estimate of $146.67 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The business's quarterly revenue was down 12.7% on a year-over-year basis. As a group, research analysts anticipate that 10x Genomics will post -0.75 earnings per share for the current year.

10x Genomics Profile

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company's product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.

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