Counterpoint Mutual Funds LLC Acquires New Stake in 10x Genomics $TXG

Key Points

• Counterpoint Mutual Funds LLC acquired 125,769 shares of 10x Genomics worth approximately $11.4 million, representing 0.10% of the company and 0.9% of the fund’s portfolio. Institutional investors and hedge funds collectively own 84.68% of TXG.
• 10x Genomics insiders sold 179,333 shares valued at about $11.8 million over the past 90 days, including sales by CEO Serge Saxonov and Director Shehnaaz Suliman.
• Shares opened at $69.86, while analysts maintain a consensus “Hold” rating with an average price target of $68.00. The company’s latest quarterly revenue of $151.04 million exceeded estimates, but revenue declined 12.7% year over year and earnings remained negative.

Counterpoint Mutual Funds LLC bought a new stake in shares of 10x Genomics (NASDAQ:TXG - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 125,769 shares of the company's stock, valued at approximately $11,364,000. 10x Genomics comprises approximately 0.9% of Counterpoint Mutual Funds LLC's portfolio, making the stock its 10th largest holding. Counterpoint Mutual Funds LLC owned 0.10% of 10x Genomics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of TXG. Quantinno Capital Management LP grew its holdings in 10x Genomics by 16.0% in the first quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company's stock worth $114,892,000 after purchasing an additional 744,558 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of 10x Genomics by 34.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,042,950 shares of the company's stock worth $43,357,000 after purchasing an additional 525,369 shares in the last quarter. Quantedge Capital Pte Ltd boosted its position in shares of 10x Genomics by 104.2% in the 1st quarter. Quantedge Capital Pte Ltd now owns 416,553 shares of the company's stock worth $8,843,000 after purchasing an additional 212,600 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of 10x Genomics in the 1st quarter worth $5,945,000. Finally, Swiss National Bank grew its stake in 10x Genomics by 2.2% during the 1st quarter. Swiss National Bank now owns 207,400 shares of the company's stock worth $4,403,000 after buying an additional 4,400 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 other news, CEO Serge Saxonov sold 25,000 shares of the company's stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $81.22, for a total value of $2,030,500.00. Following the sale, the chief executive officer owned 1,050,249 shares in the company, valued at $85,301,223.78. This represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shehnaaz Suliman sold 5,723 shares of the company's stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $81.19, for a total value of $464,650.37. Following the completion of the sale, the director owned 23,792 shares in the company, valued at approximately $1,931,672.48. This represents a 19.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 179,333 shares of company stock worth $11,810,070. Corporate insiders own 8.84% of the company's stock.

10x Genomics Trading Down 3.5%

NASDAQ TXG opened at $69.86 on Friday. The company has a fifty day simple moving average of $71.11 and a two-hundred day simple moving average of $45.49. The stock has a market cap of $9.10 billion, a P/E ratio of -118.40 and a beta of 1.99. 10x Genomics has a 12-month low of $11.81 and a 12-month high of $102.81.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, topping 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 business had revenue of $151.04 million during the quarter, compared to the consensus estimate of $146.67 million. During the same period in the previous year, the firm posted $0.28 earnings per share. The business's revenue for the quarter was down 12.7% compared to the same quarter last year. As a group, sell-side analysts forecast that 10x Genomics will post -0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TXG shares. Piper Sandler upped their target price on 10x Genomics from $47.00 to $80.00 and gave the company a "neutral" rating in a research report on Monday, September 28th. Citigroup raised their price target on 10x Genomics from $45.00 to $50.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Stephens raised their price target on 10x Genomics from $50.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, August 12th. TD Cowen boosted their price target on 10x Genomics from $47.00 to $70.00 and gave the stock a "hold" rating in a research note on Tuesday. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of 10x Genomics in a research note on Monday, September 21st. Six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, 10x Genomics currently has a consensus rating of "Hold" and an average target price of $68.00.

About 10x Genomics

10x Genomics, Inc is a life sciences technology company that develops tools for analyzing biological systems at high resolution. Its platforms are used by academic and government research institutions, pharmaceutical and biotechnology companies, and other organizations studying genomics, cell biology, immunology, neuroscience, and disease mechanisms.

The company's product portfolio includes the Chromium platform for single-cell and other multiomics analyses, the Visium platform for spatial analysis of tissue, and the Xenium platform for high-plex in situ analysis of gene expression.

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