Altar Rock LLC Sells 10,041 Shares of 10x Genomics $TXG

Altar Rock LLC decreased its holdings in shares of 10x Genomics (NASDAQ:TXG) by 48.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,546 shares of the company’s stock after selling 10,041 shares during the quarter. Altar Rock LLC’s holdings in 10x Genomics were worth $404,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in TXG. Arizona State Retirement System raised its position in shares of 10x Genomics by 1.5% in the second quarter. Arizona State Retirement System now owns 29,223 shares of the company’s stock valued at $1,120,000 after purchasing an additional 430 shares during the period. Intech Investment Management LLC boosted its holdings in shares of 10x Genomics by 1.4% during the 4th quarter. Intech Investment Management LLC now owns 40,047 shares of the company’s stock worth $653,000 after buying an additional 567 shares during the period. EverSource Wealth Advisors LLC grew its stake in 10x Genomics by 16.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,186 shares of the company’s stock valued at $153,000 after buying an additional 1,012 shares during the last quarter. Kera Capital Partners Inc. grew its stake in 10x Genomics by 2.3% in the 1st quarter. Kera Capital Partners Inc. now owns 48,937 shares of the company’s stock valued at $1,039,000 after buying an additional 1,108 shares during the last quarter. Finally, Elevation Wealth Partners LLC raised its holdings in 10x Genomics by 332.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock worth $57,000 after acquiring an additional 1,143 shares during the period. Institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling at 10x Genomics

In related news, CEO Serge Saxonov sold 10,486 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $63.69, for a total value of $667,853.34. Following the completion of the transaction, the chief executive officer owned 1,075,349 shares of the company’s stock, valued at $68,488,977.81. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John R. Stuelpnagel sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $61.75, for a total transaction of $1,235,000.00. Following the transaction, the director owned 328,436 shares of the company’s stock, valued at approximately $20,280,923. This represents a 5.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 148,610 shares of company stock worth $9,314,920 in the last 90 days. 8.84% of the stock is currently owned by insiders.

10x Genomics Price Performance

Shares of NASDAQ TXG traded up $1.90 during trading hours on Monday, reaching $78.50. The stock had a trading volume of 943,505 shares, compared to its average volume of 2,853,341. The business’s fifty day moving average is $57.07 and its two-hundred day moving average is $36.97. The company has a market cap of $10.23 billion, a price-to-earnings ratio of -133.18 and a beta of 2.08. 10x Genomics has a twelve month low of $11.16 and a twelve month high of $80.11.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The firm had revenue of $151.04 million for the quarter, compared to the consensus estimate of $146.67 million. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The business’s revenue was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 earnings per share. Sell-side analysts forecast that 10x Genomics will post -0.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on TXG. Piper Sandler boosted their target price on shares of 10x Genomics from $42.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Royal Bank Of Canada initiated coverage on 10x Genomics in a research note on Tuesday, September 1st. They issued a “sector perform” rating and a $70.00 price objective on the stock. Barclays boosted their price objective on 10x Genomics from $30.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Stephens increased their target price on 10x Genomics from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Finally, Canaccord Genuity Group raised their target price on 10x Genomics from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $44.00.

10x Genomics Profile

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.