VIRGINIA RETIREMENT SYSTEMS ET Al Sells 47,600 Shares of 10x Genomics $TXG

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its stake in shares of 10x Genomics (NASDAQ:TXG) by 76.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,403 shares of the company’s stock after selling 47,600 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in 10x Genomics were worth $1,301,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of TXG. Quantinno Capital Management LP lifted its stake in 10x Genomics by 16.0% in the 1st quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company’s stock valued at $114,892,000 after buying an additional 744,558 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in 10x Genomics by 34.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,042,950 shares of the company’s stock worth $43,357,000 after buying an additional 525,369 shares during the last quarter. Quantedge Capital Pte Ltd increased its stake in 10x Genomics by 104.2% during the 1st quarter. Quantedge Capital Pte Ltd now owns 416,553 shares of the company’s stock worth $8,843,000 after buying an additional 212,600 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in 10x Genomics during the 1st quarter worth approximately $5,945,000. Finally, Swiss National Bank increased its stake in 10x Genomics by 2.2% during the 1st quarter. Swiss National Bank now owns 207,400 shares of the company’s stock worth $4,403,000 after buying an additional 4,400 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TXG shares. Stifel Nicolaus set a $70.00 target price on 10x Genomics in a report on Tuesday, October 13th. TD Cowen lifted their price target on 10x Genomics from $47.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, October 13th. Stephens cut 10x Genomics from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 23rd. UBS Group initiated coverage on 10x Genomics in a research report on Wednesday, September 9th. They set a “neutral” rating and a $68.00 price target for the company. Finally, Citigroup increased their price objective on 10x Genomics from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Five analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $68.00.

10x Genomics Trading Up 3.4%

TXG opened at $67.52 on Thursday. The firm has a market capitalization of $8.80 billion, a PE ratio of -114.44 and a beta of 2.03. 10x Genomics has a twelve month low of $12.80 and a twelve month high of $102.81. The firm’s 50-day moving average price is $74.19 and its 200 day moving average price is $41.22.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.10. The company had revenue of $151.04 million during the quarter, compared to analysts’ expectations of $146.67 million. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. 10x Genomics’s revenue was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 EPS. As a group, analysts predict that 10x Genomics will post -0.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Serge Saxonov sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $81.22, for a total value of $2,030,500.00. Following the completion of the sale, the chief executive officer directly owned 1,050,249 shares in the company, valued at $85,301,223.78. This represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Shehnaaz Suliman sold 5,723 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $81.19, for a total value of $464,650.37. Following the completion of the sale, the director directly owned 23,792 shares of the company’s stock, valued at approximately $1,931,672.48. This represents a 19.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 179,333 shares of company stock worth $11,810,070. 8.84% of the stock is currently owned by insiders.

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.