Hsbc Holdings PLC Sells 21,746 Shares of 10x Genomics $TXG

Key Points

• Hsbc Holdings PLC decreased its stake in 10x Genomics by 17.9%, selling 21,746 shares and now owning about 0.08% of the company valued at $877,000.
• Despite Hsbc's sale, other institutional investors such as ARK Investment Management and Vanguard Group increased their positions in 10x Genomics during the same period.
• 10x Genomics reported a strong quarterly earnings result, beating expectations with $172.91 million in revenue, marking a 12.9% year-over-year increase.

Hsbc Holdings PLC trimmed its stake in 10x Genomics (NASDAQ:TXG - Free Report) by 17.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,058 shares of the company's stock after selling 21,746 shares during the period. Hsbc Holdings PLC owned approximately 0.08% of 10x Genomics worth $877,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. ARK Investment Management LLC increased its position in shares of 10x Genomics by 7.5% in the first quarter. ARK Investment Management LLC now owns 12,845,713 shares of the company's stock worth $112,143,000 after purchasing an additional 901,656 shares during the last quarter. Vanguard Group Inc. boosted its stake in 10x Genomics by 1.7% in the first quarter. Vanguard Group Inc. now owns 11,118,086 shares of the company's stock worth $97,061,000 after buying an additional 184,537 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 10x Genomics by 10.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company's stock worth $30,394,000 after buying an additional 193,588 shares in the last quarter. Voloridge Investment Management LLC boosted its stake in 10x Genomics by 12.1% in the fourth quarter. Voloridge Investment Management LLC now owns 1,585,965 shares of the company's stock worth $22,774,000 after buying an additional 171,161 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in 10x Genomics by 291.2% in the fourth quarter. Two Sigma Investments LP now owns 1,319,487 shares of the company's stock worth $18,948,000 after buying an additional 982,203 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

10x Genomics Price Performance

Shares of TXG stock traded up $0.08 during trading hours on Thursday, reaching $13.42. 665,086 shares of the company traded hands, compared to its average volume of 3,352,956. 10x Genomics has a 12-month low of $6.78 and a 12-month high of $24.38. The company has a market cap of $1.67 billion, a P/E ratio of -19.19 and a beta of 2.00. The firm has a 50-day moving average price of $13.07 and a 200 day moving average price of $10.73.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of ($0.35) by $0.63. 10x Genomics had a negative return on equity of 12.88% and a negative net margin of 13.13%.The firm had revenue of $172.91 million for the quarter, compared to analysts' expectations of $139.36 million. During the same period in the previous year, the firm earned ($0.32) EPS. The business's quarterly revenue was up 12.9% on a year-over-year basis. 10x Genomics has set its Q3 2025 guidance at EPS. Sell-side analysts predict that 10x Genomics will post -1.43 EPS for the current year.

Insider Buying and Selling

In related news, insider Benjamin J. Hindson sold 7,486 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $13.79, for a total value of $103,231.94. Following the transaction, the insider directly owned 440,888 shares of the company's stock, valued at approximately $6,079,845.52. The trade was a 1.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Serge Saxonov sold 9,348 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $13.79, for a total value of $128,908.92. Following the completion of the transaction, the chief executive officer directly owned 945,892 shares in the company, valued at approximately $13,043,850.68. This represents a 0.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,149 shares of company stock valued at $539,865. Corporate insiders own 10.03% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on TXG shares. The Goldman Sachs Group cut their target price on 10x Genomics from $7.50 to $6.50 and set a "sell" rating for the company in a research note on Monday, May 12th. Barclays reaffirmed an "overweight" rating and issued a $15.00 target price (up previously from $13.00) on shares of 10x Genomics in a research note on Friday, August 8th. UBS Group upped their target price on 10x Genomics from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Wall Street Zen raised 10x Genomics from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of 10x Genomics in a research note on Saturday, August 30th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $13.54.

About 10x Genomics

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.