Altar Rock LLC Sells 10,041 Shares of 10x Genomics $TXG

Altar Rock LLC reduced its stake in shares of 10x Genomics (NASDAQ:TXG) by 48.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 10,546 shares of the company’s stock after selling 10,041 shares during the quarter. Altar Rock LLC’s holdings in 10x Genomics were worth $404,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quantinno Capital Management LP grew its holdings in shares of 10x Genomics by 16.0% in the 1st quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company’s stock worth $114,892,000 after purchasing an additional 744,558 shares during the last quarter. Amova Asset Management Americas Inc. lifted its holdings in 10x Genomics by 2.0% during the 4th quarter. Amova Asset Management Americas Inc. now owns 5,486,153 shares of the company’s stock valued at $89,424,000 after purchasing an additional 109,270 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in 10x Genomics by 34.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,042,950 shares of the company’s stock valued at $43,357,000 after purchasing an additional 525,369 shares during the last quarter. Casdin Capital LLC acquired a new position in 10x Genomics in the fourth quarter valued at about $22,834,000. Finally, Clough Capital Partners L P acquired a new position in 10x Genomics in the fourth quarter valued at about $9,955,000. 84.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of 10x Genomics from $30.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Stifel Nicolaus set a $50.00 target price on 10x Genomics in a report on Friday, August 7th. Leerink Partners increased their price target on 10x Genomics from $23.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 10x Genomics in a report on Wednesday, June 24th. Finally, Morgan Stanley lifted their price objective on 10x Genomics from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $44.00.

10x Genomics Trading Up 2.5%

Shares of 10x Genomics stock traded up $1.90 during midday trading on Monday, reaching $78.50. The company had a trading volume of 943,505 shares, compared to its average volume of 2,853,341. The company has a market capitalization of $10.23 billion, a price-to-earnings ratio of -133.18 and a beta of 2.08. The stock has a fifty day simple moving average of $57.07 and a 200 day simple moving average of $36.97. 10x Genomics has a 1-year low of $11.16 and a 1-year high of $80.11.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $151.04 million for the quarter, compared to the consensus estimate of $146.67 million. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 EPS. Sell-side analysts expect that 10x Genomics will post -0.75 earnings per share for the current year.

Insider Activity at 10x Genomics

In other news, CFO Adam Taich sold 46,388 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $64.57, for a total transaction of $2,995,273.16. Following the completion of the sale, the chief financial officer owned 316,344 shares in the company, valued at $20,426,332.08. The trade was a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Stuelpnagel sold 20,000 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $61.75, for a total value of $1,235,000.00. Following the transaction, the director directly owned 328,436 shares in the company, valued at $20,280,923. This trade represents a 5.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 148,610 shares of company stock valued at $9,314,920 over the last quarter. 8.84% of the stock is currently owned by corporate insiders.

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.