Iron Triangle Partners LP Makes New Investment in 10x Genomics $TXG

Key Points

• Iron Triangle Partners LP invested approximately $8.73 million in 10x Genomics by purchasing 1,000,000 shares, making it the firm's 27th largest holding.
• 10x Genomics recently reported earnings of $0.28 per share, significantly surpassing the analysts' expectations of a loss, while revenue grew by 12.9% year-over-year.
• Several Wall Street analysts have upgraded their ratings on 10x Genomics, with price targets ranging from $14.00 to $16.00, reflecting growing confidence in the company's stock.

Iron Triangle Partners LP purchased a new position in shares of 10x Genomics (NASDAQ:TXG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,000,000 shares of the company's stock, valued at approximately $8,730,000. 10x Genomics comprises 1.4% of Iron Triangle Partners LP's investment portfolio, making the stock its 27th largest holding. Iron Triangle Partners LP owned 0.82% of 10x Genomics at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Trexquant Investment LP grew its stake in 10x Genomics by 91.8% in the 1st quarter. Trexquant Investment LP now owns 1,140,288 shares of the company's stock valued at $9,955,000 after buying an additional 545,677 shares in the last quarter. Ieq Capital LLC grew its stake in 10x Genomics by 80.4% in the 1st quarter. Ieq Capital LLC now owns 285,298 shares of the company's stock valued at $2,491,000 after buying an additional 127,186 shares in the last quarter. Jump Financial LLC boosted its holdings in 10x Genomics by 144.3% in the 1st quarter. Jump Financial LLC now owns 452,282 shares of the company's stock valued at $3,948,000 after purchasing an additional 267,181 shares during the period. AlphaQuest LLC lifted its holdings in shares of 10x Genomics by 8.3% during the 1st quarter. AlphaQuest LLC now owns 29,459 shares of the company's stock worth $257,000 after acquiring an additional 2,258 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in 10x Genomics in the first quarter worth $420,000. Hedge funds and other institutional investors own 84.68% of the company's stock.

10x Genomics Trading Down 1.9%

TXG traded down $0.27 during midday trading on Monday, reaching $14.01. The company's stock had a trading volume of 1,566,109 shares, compared to its average volume of 3,022,419. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -20.01 and a beta of 2.00. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $24.76. The stock's 50-day moving average is $12.92 and its 200-day moving average is $10.68.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.63. The firm had revenue of $172.91 million for the quarter, compared to the consensus estimate of $139.36 million. 10x Genomics had a negative net margin of 13.13% and a negative return on equity of 12.88%. The business's revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. 10x Genomics has set its Q3 2025 guidance at EPS. As a group, equities research analysts forecast that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insider Activity at 10x Genomics

In related news, CFO Adam Taich sold 22,315 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $13.79, for a total transaction of $307,723.85. Following the transaction, the chief financial officer owned 309,273 shares in the company, valued at $4,264,874.67. This represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin J. Hindson sold 7,486 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $13.79, for a total transaction of $103,231.94. Following the transaction, the insider owned 440,888 shares in the company, valued at approximately $6,079,845.52. This trade represents a 1.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,149 shares of company stock worth $539,865 over the last quarter. Company insiders own 10.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TXG shares. Stephens restated an "overweight" rating and set a $14.00 price target on shares of 10x Genomics in a report on Thursday, May 15th. Morgan Stanley reduced their price target on 10x Genomics from $18.00 to $17.00 and set an "overweight" rating on the stock in a report on Tuesday, August 12th. JPMorgan Chase & Co. reduced their price target on shares of 10x Genomics from $12.00 to $9.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Canaccord Genuity Group set a $16.00 price target on shares of 10x Genomics in a research report on Monday, August 11th. Finally, UBS Group boosted their price target on shares of 10x Genomics from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, 10x Genomics has an average rating of "Hold" and an average target price of $13.54.

10x Genomics Company Profile

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.