UBS Group AG Buys 102,020 Shares of 10x Genomics $TXG

Key Points

• UBS Group AG increased its 10x Genomics stake by 13.4% in the fourth quarter, buying an additional 102,020 shares and bringing its total holding to 861,000 shares worth about $14.0 million.
• 10x Genomics beat quarterly expectations, reporting a smaller-than-expected loss of $0.10 per share on revenue of $150.84 million, with revenue up 9.4% year over year.
• Analyst sentiment remains mixed: the stock has an average rating of “Hold” with an average price target of $22.46, while insiders also sold shares during the period.

UBS Group AG boosted its stake in 10x Genomics (NASDAQ:TXG - Free Report) by 13.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 861,000 shares of the company's stock after purchasing an additional 102,020 shares during the quarter. UBS Group AG owned approximately 0.68% of 10x Genomics worth $14,043,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. bought a new position in 10x Genomics in the 4th quarter worth about $38,000. Abich Financial Wealth Management LLC bought a new position in 10x Genomics in the 3rd quarter worth about $56,000. EverSource Wealth Advisors LLC boosted its stake in 10x Genomics by 203.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company's stock worth $87,000 after purchasing an additional 5,025 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in 10x Genomics by 28.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,660 shares of the company's stock worth $92,000 after purchasing an additional 1,237 shares during the period. Finally, Focus Partners Wealth bought a new position in 10x Genomics in the 1st quarter worth about $92,000. Institutional investors own 84.68% of the company's stock.

10x Genomics Trading Up 0.7%

Shares of NASDAQ TXG opened at $21.07 on Thursday. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -123.94 and a beta of 2.05. 10x Genomics has a 1-year low of $8.06 and a 1-year high of $26.44. The stock's 50-day moving average is $21.45 and its 200 day moving average is $19.19.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.19. The company had revenue of $150.84 million for the quarter, compared to analysts' expectations of $146.41 million. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.10x Genomics's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.28) EPS. On average, analysts forecast that 10x Genomics will post -0.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on TXG shares. Stifel Nicolaus raised their target price on 10x Genomics from $20.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Deutsche Bank Aktiengesellschaft set a $17.00 price target on 10x Genomics and gave the company a "hold" rating in a report on Friday, February 13th. William Blair raised 10x Genomics from a "market perform" rating to an "outperform" rating in a report on Tuesday, March 31st. Leerink Partners lowered their price target on 10x Genomics from $22.00 to $20.00 and set a "market perform" rating on the stock in a report on Tuesday, January 27th. Finally, UBS Group raised their price target on 10x Genomics from $14.00 to $20.00 and gave the company a "neutral" rating in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $22.46.

Insiders Place Their Bets

In other 10x Genomics news, CFO Adam Taich sold 8,968 shares of 10x Genomics stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total value of $166,625.44. Following the transaction, the chief financial officer directly owned 288,417 shares of the company's stock, valued at $5,358,787.86. The trade was a 3.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin J. Hindson sold 7,826 shares of 10x Genomics stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total value of $145,407.08. Following the completion of the transaction, the insider directly owned 424,779 shares in the company, valued at $7,892,393.82. This trade represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 46,426 shares of company stock valued at $902,695 in the last ninety days. Company insiders own 8.84% of the company's stock.

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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