Friedenthal Financial Acquires New Position in 10x Genomics $TXG

Friedenthal Financial acquired a new stake in 10x Genomics (NASDAQ:TXG) during the third quarter, HoldingsChannel reports. The fund acquired 79,033 shares of the company’s stock, valued at approximately $924,000.

A number of other institutional investors have also recently bought and sold shares of TXG. Allworth Financial LP raised its position in shares of 10x Genomics by 150.4% during the 2nd quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock valued at $26,000 after acquiring an additional 1,364 shares during the last quarter. True Wealth Design LLC grew its stake in shares of 10x Genomics by 1,552.5% during the second quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock worth $42,000 after purchasing an additional 3,369 shares during the period. Blue Trust Inc. increased its holdings in 10x Genomics by 48.1% in the second quarter. Blue Trust Inc. now owns 4,894 shares of the company’s stock valued at $57,000 after purchasing an additional 1,590 shares during the last quarter. Quarry LP bought a new stake in 10x Genomics in the first quarter valued at about $78,000. Finally, EverSource Wealth Advisors LLC lifted its stake in 10x Genomics by 203.9% in the second quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company’s stock valued at $87,000 after buying an additional 5,025 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

TXG has been the subject of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a research report on Monday. Morgan Stanley reissued an “equal weight” rating and set a $20.00 price objective (up previously from $17.00) on shares of 10x Genomics in a research note on Monday, December 1st. Barclays boosted their price objective on shares of 10x Genomics from $17.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, December 15th. Wall Street Zen lowered shares of 10x Genomics from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Zacks Research cut shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, 10x Genomics presently has an average rating of “Hold” and an average target price of $15.81.

10x Genomics Stock Performance

Shares of TXG opened at $16.50 on Wednesday. The stock has a 50 day simple moving average of $15.67 and a 200 day simple moving average of $13.66. 10x Genomics has a 52-week low of $6.78 and a 52-week high of $20.34. The firm has a market capitalization of $2.09 billion, a PE ratio of -26.61 and a beta of 2.15.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.05. The firm had revenue of $149.00 million for the quarter, compared to analyst estimates of $142.50 million. 10x Genomics had a negative net margin of 11.89% and a negative return on equity of 11.50%. The business’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. Equities research analysts predict that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insider Activity at 10x Genomics

In other 10x Genomics news, CFO Adam Taich sold 11,888 shares of 10x Genomics stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $19.00, for a total value of $225,872.00. Following the sale, the chief financial officer owned 297,385 shares of the company’s stock, valued at $5,650,315. This trade represents a 3.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Serge Saxonov sold 13,261 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $19.00, for a total value of $251,959.00. Following the completion of the sale, the chief executive officer owned 1,021,556 shares in the company, valued at approximately $19,409,564. This trade represents a 1.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 33,432 shares of company stock valued at $635,208. 10.03% of the stock is owned by corporate insiders.

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.