Public Employees Retirement System of Ohio Buys Shares of 69,970 10x Genomics $TXG

Key Points

• Public Employees Retirement System of Ohio acquired 69,970 shares of 10x Genomics, valued at approximately $2.68 million, giving it a 0.05% stake. Institutional investors and hedge funds collectively own 84.68% of the company.
• 10x Genomics insiders have sold 117,945 shares worth approximately $6.3 million over the past 90 days, including recent sales by its director and CFO; insiders retain 8.84% ownership.
• Analysts maintain a consensus “Hold” rating with a $40.57 price target, despite recent target increases. The stock opened at $62.65, while the company’s latest quarterly revenue of $151.04 million exceeded estimates and its adjusted loss was narrower than expected.

Public Employees Retirement System of Ohio bought a new stake in shares of 10x Genomics (NASDAQ:TXG - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 69,970 shares of the company's stock, valued at approximately $2,683,000. Public Employees Retirement System of Ohio owned about 0.05% of 10x Genomics at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Elevation Wealth Partners LLC raised its holdings in 10x Genomics by 332.3% in the second quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company's stock valued at $57,000 after acquiring an additional 1,143 shares in the last quarter. Larson Financial Group LLC grew its holdings in 10x Genomics by 164.4% during the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company's stock worth $39,000 after acquiring an additional 1,470 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of 10x Genomics in the 1st quarter worth about $50,000. Van ECK Associates Corp increased its position in shares of 10x Genomics by 85.9% in the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company's stock worth $60,000 after purchasing an additional 1,695 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of 10x Genomics by 16.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,186 shares of the company's stock valued at $153,000 after purchasing an additional 1,012 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

Insiders Place Their Bets

In related news, Director Shehnaaz Suliman sold 2,207 shares of 10x Genomics stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $63.65, for a total value of $140,475.55. Following the sale, the director directly owned 29,515 shares in the company, valued at $1,878,629.75. This trade represents a 6.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Adam Taich sold 17,166 shares of 10x Genomics stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $63.02, for a total value of $1,081,801.32. Following the sale, the chief financial officer directly owned 362,732 shares in the company, valued at approximately $22,859,370.64. This trade represents a 4.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 117,945 shares of company stock worth $6,304,588. 8.84% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Stephens lifted their price target on 10x Genomics from $50.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. Morgan Stanley boosted their price objective on 10x Genomics from $37.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday, August 7th. Weiss Ratings restated a "sell (d-)" rating on shares of 10x Genomics in a research note on Wednesday, June 24th. Leerink Partners increased their target price on 10x Genomics from $23.00 to $40.00 and gave the stock a "market perform" rating in a report on Friday, July 17th. Finally, Piper Sandler lifted their target price on 10x Genomics from $42.00 to $47.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $40.57.

10x Genomics Price Performance

Shares of TXG opened at $62.65 on Friday. 10x Genomics has a 12 month low of $11.16 and a 12 month high of $66.94. The stock has a fifty day moving average price of $50.92 and a 200 day moving average price of $33.35. The company has a market cap of $8.16 billion, a P/E ratio of -106.18 and a beta of 2.08.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.10. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%.The company had revenue of $151.04 million for the quarter, compared to analysts' expectations of $146.67 million. During the same period last year, the business posted $0.28 earnings per share. The firm's quarterly revenue was down 12.7% compared to the same quarter last year. As a group, research analysts anticipate that 10x Genomics will post -0.75 earnings per share for the current year.

10x Genomics Company 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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