M&T Bank Corp Has $1.19 Million Stake in 10x Genomics $TXG

Key Points

• M&T Bank Corp increased its stake in 10x Genomics by 258.5% in Q4 to 73,188 shares (about $1.19 million), representing roughly 0.06% ownership.
• Shares are trading up (~9.2% to $22.05) after 10x reported Q4 revenue of $166.03M and EPS of -$0.13, beating estimates, though the company remains unprofitable with negative margins and ROE.
• Institutional ownership is high at 84.68%, while analyst coverage is mixed—average rating "Hold" with an average price target of $20.82 despite several recent upgrades.

M&T Bank Corp boosted its stake in 10x Genomics (NASDAQ:TXG - Free Report) by 258.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,188 shares of the company's stock after purchasing an additional 52,771 shares during the period. M&T Bank Corp owned about 0.06% of 10x Genomics worth $1,194,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. True Wealth Design LLC increased its holdings in 10x Genomics by 26.4% in the third quarter. True Wealth Design LLC now owns 4,534 shares of the company's stock valued at $53,000 after purchasing an additional 948 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in 10x Genomics in the third quarter valued at $56,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in 10x Genomics by 28.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,660 shares of the company's stock valued at $92,000 after purchasing an additional 1,237 shares during the period. EverSource Wealth Advisors LLC increased its holdings in 10x Genomics by 203.9% in the second quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company's stock valued at $87,000 after purchasing an additional 5,025 shares during the period. Finally, Earned Wealth Advisors LLC acquired a new stake in 10x Genomics in the third quarter valued at $118,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on TXG. Stifel Nicolaus increased their price objective on 10x Genomics from $20.00 to $25.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Leerink Partners decreased their price objective on 10x Genomics from $22.00 to $20.00 and set a "market perform" rating for the company in a report on Tuesday, January 27th. Bank of America increased their price objective on 10x Genomics from $21.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, April 20th. William Blair upgraded 10x Genomics from a "market perform" rating to an "outperform" rating in a report on Tuesday, March 31st. Finally, Zacks Research raised shares of 10x Genomics from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $20.82.

10x Genomics Trading Up 9.2%

Shares of TXG opened at $22.05 on Friday. The stock has a market capitalization of $2.82 billion, a P/E ratio of -63.00 and a beta of 2.17. The firm's fifty day simple moving average is $21.32 and its two-hundred day simple moving average is $18.64. 10x Genomics has a 12 month low of $7.72 and a 12 month high of $26.44.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates of ($0.19) by $0.06. The business had revenue of $166.03 million for the quarter, compared to analysts' expectations of $160.35 million. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The business's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. As a group, research analysts predict that 10x Genomics will post -0.82 EPS for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, insider Benjamin J. Hindson sold 7,826 shares of the company's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total transaction of $145,407.08. Following the sale, the insider owned 424,779 shares of the company's stock, valued at approximately $7,892,393.82. This represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Adam Taich sold 8,968 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $18.58, for a total transaction of $166,625.44. Following the transaction, the chief financial officer directly owned 288,417 shares in the company, valued at $5,358,787.86. This trade represents a 3.02% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 46,426 shares of company stock valued at $902,695. 9.39% of the stock is currently owned by insiders.

10x Genomics Profile

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.

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