Squarepoint Ops LLC Purchases Shares of 53,966 10x Genomics $TXG

Squarepoint Ops LLC acquired a new stake in 10x Genomics (NASDAQ:TXG - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 53,966 shares of the company's stock, valued at approximately $2,069,000.

Other hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. raised its position in 10x Genomics by 113.5% in the 1st quarter. Sei Investments Co. now owns 44,679 shares of the company's stock valued at $949,000 after buying an additional 23,748 shares during the last quarter. Simplify Asset Management Inc. purchased a new position in 10x Genomics during the 4th quarter worth $7,926,000. Hsbc Holdings PLC purchased a new position in 10x Genomics during the 1st quarter worth $5,945,000. Clough Capital Partners L P bought a new stake in shares of 10x Genomics in the 4th quarter worth $9,955,000. Finally, Cookson Peirce & Co. Inc. purchased a new stake in shares of 10x Genomics in the fourth quarter valued at about $571,000. Institutional investors and hedge funds own 84.68% of the company's stock.

Insider Buying and Selling

In other news, Director John Stuelpnagel sold 20,000 shares of the business's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $61.75, for a total transaction of $1,235,000.00. Following the completion of the transaction, the director directly owned 328,436 shares in the company, valued at $20,280,923. The trade was a 5.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Serge Saxonov sold 30,000 shares of the firm's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $34.44, for a total transaction of $1,033,200.00. Following the sale, the chief executive officer owned 1,108,380 shares in the company, valued at approximately $38,172,607.20. This trade represents a 2.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 178,610 shares of company stock valued at $10,348,120 in the last three months. Insiders own 8.84% of the company's stock.

Analyst Ratings Changes

TXG has been the topic of several analyst reports. Leerink Partners boosted their price target on shares of 10x Genomics from $23.00 to $40.00 and gave the stock a "market perform" rating in a report on Friday, July 17th. UBS Group began coverage on shares of 10x Genomics in a research note on Wednesday, September 9th. They issued a "neutral" rating and a $68.00 price objective for the company. Piper Sandler lifted their target price on shares of 10x Genomics from $42.00 to $47.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Barclays boosted their target price on 10x Genomics from $30.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 24th. Finally, Citigroup upped their target price on 10x Genomics from $45.00 to $50.00 and gave the company a "neutral" rating in a report on Friday, August 7th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $44.00.

10x Genomics Stock Performance

Shares of TXG stock opened at $70.11 on Tuesday. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of -118.83 and a beta of 2.08. 10x Genomics has a 52 week low of $11.16 and a 52 week high of $70.46. The firm's 50-day simple moving average is $54.28 and its two-hundred day simple moving average is $35.47.

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

10x Genomics Company Profile

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company's product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.

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