Westwood Holdings Group Inc. Takes $939,000 Position in 10x Genomics, Inc. (NASDAQ:TXG)

Westwood Holdings Group Inc. acquired a new stake in 10x Genomics, Inc. (NASDAQ:TXG) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 25,024 shares of the company’s stock, valued at approximately $939,000.

Other large investors have also recently bought and sold shares of the company. Venrock Management VI LLC acquired a new position in 10x Genomics during the fourth quarter valued at approximately $117,894,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of 10x Genomics by 58.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock worth $135,925,000 after buying an additional 1,338,248 shares during the period. Nikko Asset Management Americas Inc. grew its stake in 10x Genomics by 58.6% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock valued at $135,780,000 after buying an additional 1,338,248 shares during the last quarter. SVB Wealth LLC raised its holdings in 10x Genomics by 92.1% in the 4th quarter. SVB Wealth LLC now owns 1,446,552 shares of the company’s stock worth $80,949,000 after acquiring an additional 693,422 shares during the period. Finally, Norges Bank bought a new position in 10x Genomics in the 4th quarter worth $36,262,000. 84.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other 10x Genomics news, CFO Justin J. Mcanear sold 2,936 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $71,344.80. Following the transaction, the chief financial officer now directly owns 146,203 shares in the company, valued at $3,552,732.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other 10x Genomics news, CFO Justin J. Mcanear sold 2,936 shares of 10x Genomics stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $71,344.80. Following the completion of the transaction, the chief financial officer now owns 146,203 shares in the company, valued at approximately $3,552,732.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Serge Saxonov sold 4,877 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the transaction, the chief executive officer now directly owns 889,641 shares in the company, valued at approximately $21,618,276.30. The disclosure for this sale can be found here. Insiders sold 11,900 shares of company stock worth $289,170 in the last quarter. 10.03% of the stock is owned by corporate insiders.

10x Genomics Stock Performance

NASDAQ TXG traded up $0.30 during trading on Friday, reaching $20.22. 1,648,334 shares of the company traded hands, compared to its average volume of 2,496,850. 10x Genomics, Inc. has a 1-year low of $15.28 and a 1-year high of $63.57. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -9.07 and a beta of 1.84. The stock’s 50 day moving average price is $20.21 and its two-hundred day moving average price is $32.02.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Tuesday, April 30th. The company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50). 10x Genomics had a negative return on equity of 30.85% and a negative net margin of 42.20%. The business had revenue of $141.01 million during the quarter, compared to the consensus estimate of $142.24 million. During the same quarter last year, the company earned ($0.44) EPS. 10x Genomics’s revenue was up 5.0% on a year-over-year basis. Equities research analysts expect that 10x Genomics, Inc. will post -1.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group raised 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. lowered 10x Genomics from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $40.00 to $20.00 in a report on Thursday, July 18th. Wolfe Research reiterated a “peer perform” rating on shares of 10x Genomics in a report on Thursday, June 27th. Stifel Nicolaus reduced their price objective on 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of 10x Genomics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $55.00 to $25.00 in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, 10x Genomics has an average rating of “Hold” and an average target price of $36.29.

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.