11,374 10x Genomics $TXG Shares Sold by Versant Capital Management Inc

Versant Capital Management Inc cut its position in shares of 10x Genomics (NASDAQ:TXG) by 38.5% in the third quarter, Holdings Channel reports. The institutional investor owned 18,185 shares of the company’s stock after selling 11,374 shares during the period. Versant Capital Management Inc’s holdings in 10x Genomics were worth $1,643,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TXG. Fifth Third Bancorp bought a new stake in 10x Genomics in the 1st quarter valued at approximately $50,000. Elevation Wealth Partners LLC grew its stake in shares of 10x Genomics by 332.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock worth $57,000 after acquiring an additional 1,143 shares in the last quarter. Nykredit A S acquired a new stake in shares of 10x Genomics in the second quarter valued at approximately $126,000. EverSource Wealth Advisors LLC raised its holdings in shares of 10x Genomics by 16.4% in the first 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 during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of 10x Genomics by 219.0% in the first quarter. Geneos Wealth Management Inc. now owns 7,500 shares of the company’s stock worth $159,000 after purchasing an additional 5,149 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Activity at 10x Genomics

In related news, Director John Stuelpnagel sold 20,000 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $61.75, for a total transaction of $1,235,000.00. Following the sale, the director owned 328,436 shares of the company’s stock, valued at approximately $20,280,923. This represents a 5.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Benjamin Hindson sold 13,818 shares of 10x Genomics stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $63.02, for a total transaction of $870,810.36. Following the transaction, the insider directly owned 488,182 shares in the company, valued at $30,765,229.64. This trade represents a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 179,333 shares of company stock valued at $11,810,070 in the last 90 days. 8.84% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TXG shares. Barclays increased their target price 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. Citigroup boosted their price target on shares of 10x Genomics from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Royal Bank Of Canada began coverage on shares of 10x Genomics in a research note on Tuesday, September 1st. They set a “sector perform” rating and a $70.00 price objective for the company. Morgan Stanley raised 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of 10x Genomics in a report on Monday, September 21st. Six 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 MarketBeat, 10x Genomics presently has an average rating of “Hold” and an average price target of $53.93.

10x Genomics Stock Down 1.8%

Shares of 10x Genomics stock opened at $88.76 on Friday. The stock has a market cap of $11.56 billion, a price-to-earnings ratio of -150.44 and a beta of 1.99. The company’s fifty day moving average is $64.19 and its 200 day moving average is $41.03. 10x Genomics has a twelve month low of $11.16 and a twelve month high of $95.16.

10x Genomics (NASDAQ:TXG) 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 business had revenue of $151.04 million during the quarter, compared to the consensus estimate of $146.67 million. During the same quarter in the prior year, the firm posted $0.28 EPS. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. As a group, equities analysts anticipate that 10x Genomics will post -0.66 earnings per share for the current fiscal year.

10x Genomics Company Profile

10x Genomics, Inc is a life sciences technology company that develops tools for analyzing biological systems at high resolution. Its platforms are used by academic and government research institutions, pharmaceutical and biotechnology companies, and other organizations studying genomics, cell biology, immunology, neuroscience, and disease mechanisms.

The company’s product portfolio includes the Chromium platform for single-cell and other multiomics analyses, the Visium platform for spatial analysis of tissue, and the Xenium platform for high-plex in situ analysis of gene expression.