Corient Private Wealth LLC Takes Position in 10x Genomics $TXG

Corient Private Wealth LLC bought a new stake in 10x Genomics (NASDAQ:TXG) during the second quarter, HoldingsChannel.com reports. The fund bought 51,361 shares of the company’s stock, valued at approximately $595,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas boosted its holdings in 10x Genomics by 6.1% during the second quarter. Teacher Retirement System of Texas now owns 14,931 shares of the company’s stock valued at $173,000 after purchasing an additional 858 shares in the last quarter. Allworth Financial LP lifted 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 worth $26,000 after buying an additional 1,364 shares during the period. Blue Trust Inc. lifted its position in shares of 10x Genomics by 48.1% during the 2nd quarter. Blue Trust Inc. now owns 4,894 shares of the company’s stock worth $57,000 after buying an additional 1,590 shares during the period. AlphaQuest LLC boosted its stake in 10x Genomics by 8.3% in the 1st quarter. AlphaQuest LLC now owns 29,459 shares of the company’s stock valued at $257,000 after buying an additional 2,258 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in 10x Genomics by 3.3% in the second quarter. Hsbc Holdings PLC now owns 103,335 shares of the company’s stock valued at $1,211,000 after acquiring an additional 3,277 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 a number of analyst reports. Wall Street Zen cut 10x Genomics from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. JPMorgan Chase & Co. increased their target price on shares of 10x Genomics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. UBS Group lifted their price target on shares of 10x Genomics from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 price objective (up from $17.00) on shares of 10x Genomics in a research note on Monday, December 1st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a research note on Monday, December 22nd. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, 10x Genomics has a consensus rating of “Hold” and an average price target of $15.81.

Insider Buying and Selling

In other 10x Genomics news, CFO Adam Taich sold 11,888 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $19.00, for a total transaction of $225,872.00. Following the transaction, the chief financial officer owned 297,385 shares of the company’s stock, valued at approximately $5,650,315. This represents a 3.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benjamin J. Hindson sold 8,283 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $19.00, for a total value of $157,377.00. Following the completion of the transaction, the insider owned 432,605 shares in the company, valued at $8,219,495. The trade was a 1.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,432 shares of company stock worth $635,208 in the last quarter. Insiders own 9.39% of the company’s stock.

10x Genomics Stock Down 1.2%

Shares of NASDAQ:TXG opened at $16.49 on Friday. 10x Genomics has a 12 month low of $6.78 and a 12 month high of $20.34. The company’s 50-day moving average price is $15.95 and its two-hundred day moving average price is $13.77. The firm has a market cap of $2.09 billion, a P/E ratio of -26.60 and a beta of 2.15.

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

10x Genomics 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.