18,000 Shares in 10x Genomics $TXG Bought by Guardian Partners Inc.

Guardian Partners Inc. acquired a new position in shares of 10x Genomics (NASDAQ:TXG) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 18,000 shares of the company’s stock, valued at approximately $1,626,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sei Investments Co. increased 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 acquiring an additional 23,748 shares during the period. Squarepoint Ops LLC bought a new stake in 10x Genomics during the 2nd quarter valued at $2,069,000. HB Wealth Management LLC bought a new stake in 10x Genomics during the 2nd quarter valued at $285,000. Proficio Capital Partners LLC bought a new stake in 10x Genomics during the 2nd quarter valued at $781,000. Finally, Hsbc Holdings PLC acquired a new position in 10x Genomics during the 1st quarter worth $5,945,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Serge Saxonov sold 25,000 shares of 10x Genomics stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $81.22, for a total transaction of $2,030,500.00. Following the transaction, the chief executive officer directly owned 1,050,249 shares in the company, valued at approximately $85,301,223.78. This trade represents a 2.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Stuelpnagel sold 20,000 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $61.75, for a total value of $1,235,000.00. Following the completion of the sale, the director directly owned 328,436 shares in the company, valued at $20,280,923. This represents a 5.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 179,333 shares of company stock worth $11,810,070 in the last quarter. 8.84% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TXG has been the subject of several recent analyst reports. Royal Bank Of Canada started coverage on 10x Genomics in a research note on Tuesday, September 1st. They issued a “sector perform” rating and a $70.00 price target for the company. Morgan Stanley lifted their price objective on shares of 10x Genomics from $40.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, October 12th. UBS Group assumed coverage on shares of 10x Genomics in a research note on Wednesday, September 9th. They set a “neutral” rating and a $68.00 price objective on the stock. TD Cowen upped their price objective on shares of 10x Genomics from $47.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, October 13th. Finally, Stephens upped their price objective on shares of 10x Genomics from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, 10x Genomics presently has an average rating of “Hold” and a consensus target price of $68.00.

10x Genomics Price Performance

10x Genomics stock opened at $75.59 on Thursday. The firm has a 50 day simple moving average of $71.95 and a 200-day simple moving average of $46.74. The stock has a market capitalization of $9.85 billion, a PE ratio of -128.12 and a beta of 1.99. 10x Genomics has a 12-month low of $12.08 and a 12-month high of $102.81.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) EPS 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 for the quarter, compared to analyst estimates of $146.67 million. During the same quarter last year, the business earned $0.28 earnings per share. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, analysts forecast that 10x Genomics will post -0.75 earnings per share for the current fiscal year.

10x Genomics Profile

10x Genomics, Inc is a life sciences technology company that develops tools for analyzing biological systems at the single-cell and spatial levels. Its technologies are designed to help researchers study gene expression, cellular interactions, tissue organization and other biological processes in greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, the Visium platform for spatial transcriptomics, and the Xenium platform for high-resolution in situ analysis of tissue samples.