Mackenzie Financial Corp Sells 25,139 Shares of 10x Genomics (NASDAQ:TXG)

Key Points

• Mackenzie Financial Corp reduced its stake in 10x Genomics by 47.1% during the first quarter, now holding 28,251 shares valued at approximately $247,000.
• 10x Genomics reported earnings of $0.28 per share for the last quarter, significantly exceeding analysts' expectations and showing a 12.9% year-over-year revenue increase to $172.91 million.
• Analysts have mixed views on 10x Genomics, with price targets ranging from $13.00 to $15.00, and a consensus rating of "Hold".

Mackenzie Financial Corp decreased its holdings in shares of 10x Genomics (NASDAQ:TXG - Free Report) by 47.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,251 shares of the company's stock after selling 25,139 shares during the quarter. Mackenzie Financial Corp's holdings in 10x Genomics were worth $247,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TXG. GAMMA Investing LLC increased its holdings in shares of 10x Genomics by 81.8% in the first quarter. GAMMA Investing LLC now owns 3,586 shares of the company's stock valued at $31,000 after purchasing an additional 1,614 shares during the period. GF Fund Management CO. LTD. purchased a new stake in 10x Genomics during the fourth quarter worth $32,000. Signaturefd LLC boosted its position in 10x Genomics by 134.3% during the first quarter. Signaturefd LLC now owns 4,203 shares of the company's stock worth $37,000 after purchasing an additional 2,409 shares in the last quarter. Whittier Trust Co. purchased a new stake in shares of 10x Genomics in the first quarter valued at $41,000. Finally, Versant Capital Management Inc lifted its position in 10x Genomics by 4,184.4% during the first quarter. Versant Capital Management Inc now owns 12,082 shares of the company's stock worth $105,000 after buying an additional 11,800 shares during the period. Hedge funds and other institutional investors own 84.68% of the company's stock.

Analysts Set New Price Targets

TXG has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft set a $14.00 target price on 10x Genomics and gave the stock a "hold" rating in a research report on Friday. Bank of America raised their target price on 10x Genomics from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Barclays restated an "overweight" rating and set a $15.00 price objective (up previously from $13.00) on shares of 10x Genomics in a research note on Friday. The Goldman Sachs Group lowered their price objective 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. Finally, JPMorgan Chase & Co. decreased their target price on 10x Genomics from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $13.54.

Insider Activity

In other news, CEO Serge Saxonov sold 9,343 shares of 10x Genomics stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total transaction of $77,546.90. Following the transaction, the chief executive officer owned 1,083,625 shares in the company, valued at approximately $8,994,087.50. The trade was a 0.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Benjamin J. Hindson sold 7,485 shares of 10x Genomics stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total value of $62,125.50. Following the sale, the insider directly owned 448,374 shares of the company's stock, valued at approximately $3,721,504.20. The trade was a 1.64% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,872 shares of company stock worth $173,238. 10.03% of the stock is owned by corporate insiders.

10x Genomics Stock Up 4.1%

10x Genomics stock traded up $0.50 during mid-day trading on Tuesday, hitting $12.81. 3,954,604 shares of the company's stock traded hands, compared to its average volume of 3,100,542. The firm has a 50 day moving average price of $11.97 and a 200 day moving average price of $10.71. 10x Genomics has a one year low of $6.78 and a one year high of $24.76.

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 analysts' consensus estimates of ($0.35) by $0.63. The business had revenue of $172.91 million for the quarter, compared to analysts' expectations of $139.36 million. 10x Genomics had a negative return on equity of 12.88% and a negative net margin of 13.13%. The company's quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.32) EPS. As a group, research analysts forecast that 10x Genomics will post -1.43 EPS for the current year.

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.