North Star Asset Management Inc. Invests $988,000 in 10x Genomics $TXG

North Star Asset Management Inc. acquired a new position in shares of 10x Genomics (NASDAQ:TXG) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 25,780 shares of the company’s stock, valued at approximately $988,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TXG. Geneos Wealth Management Inc. acquired a new position in 10x Genomics in the fourth quarter worth approximately $38,000. Larson Financial Group LLC lifted its stake in 10x Genomics by 164.4% in the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after acquiring an additional 1,470 shares during the last quarter. Fifth Third Bancorp bought a new stake in 10x Genomics in the first quarter worth approximately $50,000. Elevation Wealth Partners LLC increased 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 purchasing an additional 1,143 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of 10x Genomics by 85.9% during the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after purchasing an additional 1,695 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TXG shares. Leerink Partners raised their price target on shares of 10x Genomics from $23.00 to $40.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Zacks Research downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a report on Wednesday, June 24th. Morgan Stanley boosted their price target on 10x Genomics from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Finally, Piper Sandler upped their price target on 10x Genomics from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $38.31.

10x Genomics Stock Down 5.1%

NASDAQ:TXG opened at $61.54 on Friday. The company’s 50 day moving average is $48.16 and its 200-day moving average is $31.83. 10x Genomics has a 12 month low of $11.16 and a 12 month high of $66.94. The firm has a market cap of $8.02 billion, a price-to-earnings ratio of -104.30 and a beta of 2.03.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the firm earned $0.28 EPS. 10x Genomics’s quarterly revenue was down 12.7% compared to the same quarter last year. Research analysts predict that 10x Genomics will post -0.75 EPS for the current fiscal year.

Insider Activity

In other 10x Genomics news, Director Shehnaaz Suliman sold 5,723 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $32.63, for a total transaction of $186,741.49. Following the completion of the sale, the director directly owned 31,722 shares in the company, valued at $1,035,088.86. This represents a 15.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John R. Stuelpnagel sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $57.75, for a total value of $1,155,000.00. Following the completion of the sale, the director directly owned 348,436 shares in the company, valued at approximately $20,122,179. This represents a 5.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 117,945 shares of company stock worth $6,304,588. Insiders own 8.84% of the company’s stock.

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.