Level Four Advisory Services LLC Acquires New Position in 10x Genomics $TXG

Level Four Advisory Services LLC bought a new position in 10x Genomics (NASDAQ:TXG) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 54,751 shares of the company’s stock, valued at approximately $640,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of 10x Genomics by 6.7% during the third quarter. Vanguard Group Inc. now owns 13,274,332 shares of the company’s stock valued at $155,177,000 after buying an additional 834,272 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in 10x Genomics by 12.1% in the second quarter. Nikko Asset Management Americas Inc. now owns 6,009,653 shares of the company’s stock worth $69,532,000 after acquiring an additional 646,997 shares during the period. AQR Capital Management LLC grew its holdings in 10x Genomics by 241.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock worth $47,916,000 after acquiring an additional 2,925,372 shares in the last quarter. Bank of America Corp DE grew its holdings in 10x Genomics by 13.4% during the 2nd quarter. Bank of America Corp DE now owns 3,023,489 shares of the company’s stock worth $35,012,000 after acquiring an additional 356,100 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in 10x Genomics by 41.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,650,819 shares of the company’s stock valued at $30,701,000 after purchasing an additional 773,203 shares during the period. Institutional investors own 84.68% of the company’s stock.

Insider Activity

In other 10x Genomics news, CFO Adam Taich sold 8,968 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total value of $166,625.44. Following the sale, the chief financial officer directly owned 288,417 shares of the company’s stock, valued at approximately $5,358,787.86. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Serge Saxonov sold 9,632 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $18.58, for a total value of $178,962.56. Following the sale, the chief executive officer directly owned 1,061,924 shares in the company, valued at $19,730,547.92. This represents a 0.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,426 shares of company stock valued at $490,995 in the last ninety days. Insiders own 9.39% of the company’s stock.

10x Genomics Stock Performance

10x Genomics stock opened at $20.81 on Friday. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $23.56. The company has a market cap of $2.66 billion, a PE ratio of -59.46 and a beta of 2.20. The business’s 50-day simple moving average is $19.88 and its two-hundred day simple moving average is $16.36.

10x Genomics (NASDAQ:TXG) last released its earnings results on Thursday, February 12th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The firm had revenue of $166.03 million during the quarter, compared to the consensus estimate of $160.35 million. 10x Genomics had a negative return on equity of 6.89% and a negative net margin of 6.77%.The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.40) earnings per share. As a group, analysts predict that 10x Genomics will post -1.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Bank of America set a $21.00 price target on shares of 10x Genomics in a report on Monday, January 12th. Canaccord Genuity Group set a $22.00 price objective on shares of 10x Genomics in a report on Friday, February 13th. Barclays boosted their price objective on shares of 10x Genomics from $17.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. UBS Group upped their target price on 10x Genomics from $14.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Finally, Wall Street Zen lowered shares of 10x Genomics from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.46.

10x Genomics Company Profile

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.