Pallas Capital Advisors LLC Buys 32,996 Shares of 10x Genomics $TXG

Key Points

• Pallas Capital Advisors LLC increased its stake in 10x Genomics by 138.8%, acquiring an additional 32,996 shares valued at approximately $657,000.
• 10x Genomics reported a 12.9% increase in quarterly revenue, totaling $172.91 million, and exceeded earnings expectations with $0.28 EPS compared to an estimate of ($0.35).
• Institutional investors collectively own 84.68% of 10x Genomics' stock, indicating significant market confidence in the company.

Pallas Capital Advisors LLC boosted its holdings in shares of 10x Genomics (NASDAQ:TXG - Free Report) by 138.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,776 shares of the company's stock after purchasing an additional 32,996 shares during the period. Pallas Capital Advisors LLC's holdings in 10x Genomics were worth $657,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in 10x Genomics by 81.8% during the first quarter. GAMMA Investing LLC now owns 3,586 shares of the company's stock worth $31,000 after purchasing an additional 1,614 shares during the last quarter. Xponance Inc. lifted its stake in 10x Genomics by 17.4% during the first quarter. Xponance Inc. now owns 12,010 shares of the company's stock worth $105,000 after purchasing an additional 1,778 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in 10x Genomics during the fourth quarter worth $32,000. AlphaQuest LLC lifted its stake in 10x Genomics by 8.3% during the first quarter. AlphaQuest LLC now owns 29,459 shares of the company's stock worth $257,000 after purchasing an additional 2,258 shares during the last quarter. Finally, Signaturefd LLC lifted its stake 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 during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on TXG. Morgan Stanley cut their target price on 10x Genomics from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Tuesday, August 12th. Weiss Ratings restated a "sell (e+)" rating on shares of 10x Genomics in a research note on Saturday, September 13th. 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. Zacks Research cut 10x Genomics from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 5th. Finally, Canaccord Genuity Group set a $16.00 price target on 10x Genomics in a research note on Monday, August 11th. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $13.65.

10x Genomics Trading Down 1.7%

NASDAQ:TXG traded down $0.23 during trading hours on Friday, hitting $13.04. 3,262,793 shares of the company were exchanged, compared to its average volume of 2,167,720. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -18.63 and a beta of 2.00. 10x Genomics has a one year low of $6.78 and a one year high of $23.53. The company has a fifty day simple moving average of $13.29 and a 200 day simple moving average of $10.90.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced 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 business had revenue of $172.91 million during the quarter, compared to analyst estimates of $139.36 million. 10x Genomics had a negative return on equity of 12.88% and a negative net margin of 13.13%.10x Genomics's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the company earned ($0.32) EPS. 10x Genomics has set its Q3 2025 guidance at EPS. Equities research analysts predict that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 10x Genomics news, CEO Serge Saxonov sold 9,348 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $13.79, for a total transaction of $128,908.92. Following the completion of the sale, the chief executive officer directly owned 945,892 shares in the company, valued at approximately $13,043,850.68. This trade represents a 0.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Adam Taich sold 22,315 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $13.79, for a total value of $307,723.85. Following the sale, the chief financial officer owned 309,273 shares of the company's stock, valued at approximately $4,264,874.67. The trade was a 6.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,149 shares of company stock valued at $539,865 in the last three months. Insiders own 9.39% of the company's stock.

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.