10x Genomics $TXG Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its stake in shares of 10x Genomics (NASDAQ:TXG) by 40.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 38,134 shares of the company’s stock after selling 25,633 shares during the quarter. SG Americas Securities LLC’s holdings in 10x Genomics were worth $810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. ARK Investment Management LLC raised its stake in 10x Genomics by 6.6% in the 4th quarter. ARK Investment Management LLC now owns 12,667,369 shares of the company’s stock worth $206,605,000 after acquiring an additional 779,973 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in 10x Genomics by 2.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,492,189 shares of the company’s stock valued at $89,578,000 after purchasing an additional 110,970 shares during the last quarter. Amova Asset Management Americas Inc. increased its holdings in shares of 10x Genomics by 2.0% in the fourth 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 period. Millennium Management LLC increased its holdings in shares of 10x Genomics by 84.7% in the third quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock valued at $63,570,000 after purchasing an additional 2,494,142 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of 10x Genomics by 126.6% in the third quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock worth $50,099,000 after purchasing an additional 2,394,355 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

10x Genomics Price Performance

Shares of TXG opened at $39.01 on Monday. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of -229.47 and a beta of 2.05. 10x Genomics has a 52 week low of $11.16 and a 52 week high of $40.08. The stock’s 50-day moving average price is $28.07 and its 200-day moving average price is $22.88.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.19. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The company had revenue of $150.84 million during the quarter, compared to analysts’ expectations of $146.41 million. During the same period last year, the business earned ($0.28) earnings per share. 10x Genomics’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities analysts anticipate that 10x Genomics will post -0.79 EPS for the current fiscal year.

Insider Activity

In other news, insider Benjamin J. Hindson sold 11,595 shares of 10x Genomics stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $283,381.80. Following the completion of the transaction, the insider directly owned 502,000 shares of the company’s stock, valued at $12,268,880. The trade was a 2.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Serge Saxonov sold 30,000 shares of 10x Genomics stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $34.44, for a total transaction of $1,033,200.00. Following the transaction, the chief executive officer directly owned 1,108,380 shares of the company’s stock, valued at approximately $38,172,607.20. This trade represents a 2.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 96,309 shares of company stock worth $2,704,157 over the last 90 days. Company insiders own 8.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TXG. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 10x Genomics in a report on Wednesday, June 24th. Bank of America raised their price target on shares of 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Canaccord Genuity Group lifted their price objective on shares of 10x Genomics from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Zacks Research downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Morgan Stanley increased their price objective on shares of 10x Genomics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $25.92.

About 10x Genomics

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.