California Public Employees Retirement System Sells 7,008 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

California Public Employees Retirement System reduced its stake in 10x Genomics, Inc. (NASDAQ:TXG) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,112 shares of the company’s stock after selling 7,008 shares during the period. California Public Employees Retirement System owned approximately 0.11% of 10x Genomics worth $7,225,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. increased its stake in 10x Genomics by 51.6% during the 4th quarter. UMB Bank n.a. now owns 782 shares of the company’s stock valued at $44,000 after purchasing an additional 266 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of 10x Genomics during the third quarter valued at approximately $146,000. Powell Investment Advisors LLC bought a new stake in shares of 10x Genomics during the fourth quarter valued at approximately $200,000. Bleakley Financial Group LLC purchased a new position in 10x Genomics in the 4th quarter worth approximately $234,000. Finally, Simplicity Solutions LLC bought a new position in 10x Genomics in the 4th quarter valued at approximately $234,000. 84.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on TXG. The Goldman Sachs Group decreased their price target on 10x Genomics from $30.00 to $26.00 and set a “sell” rating for the company in a research note on Wednesday. Stifel Nicolaus lowered their target price on shares of 10x Genomics from $63.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday. TD Cowen lowered shares of 10x Genomics from a “buy” rating to a “hold” rating and reduced their price target for the stock from $57.00 to $32.00 in a research note on Wednesday. Canaccord Genuity Group lowered their price objective on shares of 10x Genomics from $65.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Finally, Barclays cut their target price on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.50.

Insider Buying and Selling

In other 10x Genomics news, CEO Serge Saxonov sold 4,660 shares of 10x Genomics stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $44.00, for a total value of $205,040.00. Following the sale, the chief executive officer now owns 842,900 shares of the company’s stock, valued at approximately $37,087,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other 10x Genomics news, CEO Serge Saxonov sold 4,660 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $44.00, for a total transaction of $205,040.00. Following the completion of the transaction, the chief executive officer now owns 842,900 shares in the company, valued at $37,087,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Justin J. Mcanear sold 1,865 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total transaction of $86,424.10. Following the completion of the sale, the chief financial officer now owns 95,240 shares in the company, valued at $4,413,421.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,959 shares of company stock worth $592,806. Corporate insiders own 10.65% of the company’s stock.

10x Genomics Price Performance

Shares of TXG opened at $27.48 on Friday. The firm has a market cap of $3.27 billion, a P/E ratio of -12.24 and a beta of 1.94. 10x Genomics, Inc. has a 1 year low of $24.60 and a 1 year high of $63.57. The company has a 50 day simple moving average of $36.16 and a two-hundred day simple moving average of $42.18.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.50). 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The company had revenue of $141.01 million for the quarter, compared to the consensus estimate of $142.24 million. During the same period in the previous year, the firm posted ($0.44) EPS. 10x Genomics’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, sell-side analysts anticipate that 10x Genomics, Inc. will post -1.47 earnings per share for the current year.

10x Genomics Profile

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.