Empirical Financial Services LLC d.b.a. Empirical Wealth Management Increases Position in 10x Genomics $TXG

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in 10x Genomics (NASDAQ:TXG) by 85.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,174 shares of the company’s stock after acquiring an additional 16,170 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in 10x Genomics were worth $747,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Royal Bank of Canada grew its position in shares of 10x Genomics by 806.4% in the first quarter. Royal Bank of Canada now owns 182,836 shares of the company’s stock valued at $1,597,000 after purchasing an additional 162,665 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in 10x Genomics by 163.5% during the first quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company’s stock worth $5,634,000 after buying an additional 400,430 shares in the last quarter. Focus Partners Wealth purchased a new position in 10x Genomics during the first quarter worth approximately $92,000. Legal & General Group Plc boosted its stake in 10x Genomics by 5.7% during the second quarter. Legal & General Group Plc now owns 110,864 shares of the company’s stock worth $1,284,000 after buying an additional 5,985 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in 10x Genomics during the second quarter worth $933,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TXG. Piper Sandler upped their target price on 10x Genomics from $20.00 to $42.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of 10x Genomics in a report on Wednesday, June 24th. Citigroup boosted their price target on shares of 10x Genomics from $24.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Morgan Stanley upped their price objective on shares of 10x Genomics from $22.00 to $37.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Finally, Barclays raised their price objective on shares of 10x Genomics from $30.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $30.42.

Insider Buying and Selling at 10x Genomics

In related 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 value of $283,381.80. Following the completion of the transaction, the insider owned 502,000 shares in the company, valued at approximately $12,268,880. The trade was a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 completion of the transaction, the chief executive officer owned 1,108,380 shares of the company’s stock, valued at $38,172,607.20. This trade represents a 2.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 91,309 shares of company stock worth $2,581,357 over the last ninety days. Company insiders own 8.84% of the company’s stock.

10x Genomics Trading Down 2.8%

TXG stock opened at $44.48 on Friday. The business’s fifty day moving average price is $31.71 and its 200 day moving average price is $24.51. 10x Genomics has a 12-month low of $11.16 and a 12-month high of $46.32. The company has a market capitalization of $5.65 billion, a PE ratio of -261.65 and a beta of 2.05.

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

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.