Amova Asset Management Americas Inc. Has $62.86 Million Stock Position in 10x Genomics $TXG

Amova Asset Management Americas Inc. cut its stake in 10x Genomics (NASDAQ:TXG) by 10.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,376,883 shares of the company’s stock after selling 632,770 shares during the period. Amova Asset Management Americas Inc.’s holdings in 10x Genomics were worth $62,856,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of TXG. Royal Bank of Canada raised its stake in 10x Genomics by 806.4% during the first quarter. Royal Bank of Canada now owns 182,836 shares of the company’s stock worth $1,597,000 after acquiring an additional 162,665 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of 10x Genomics by 163.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company’s stock worth $5,634,000 after purchasing an additional 400,430 shares in the last quarter. Focus Partners Wealth bought a new position in 10x Genomics during the 1st quarter valued at about $92,000. Y Intercept Hong Kong Ltd bought a new position in 10x Genomics during the 2nd quarter valued at about $941,000. Finally, Teacher Retirement System of Texas grew its stake 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 worth $173,000 after buying an additional 858 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 9,632 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $18.58, for a total transaction of $178,962.56. Following the transaction, the chief executive officer owned 1,061,924 shares in the company, valued at approximately $19,730,547.92. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benjamin J. Hindson sold 7,826 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $18.58, for a total value of $145,407.08. Following the transaction, the insider owned 424,779 shares of the company’s stock, valued at $7,892,393.82. The trade was a 1.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 26,426 shares of company stock valued at $490,995. 9.39% of the stock is currently owned by company insiders.

10x Genomics Stock Down 1.1%

Shares of TXG stock opened at $22.37 on Thursday. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -63.91 and a beta of 2.20. 10x Genomics has a 12 month low of $6.78 and a 12 month high of $23.56. The stock has a 50-day moving average price of $19.69 and a 200 day moving average price of $16.27.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.06. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The company had revenue of $166.03 million for the quarter, compared to analyst estimates of $160.35 million. During the same quarter last year, the firm earned ($0.40) EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts predict that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TXG has been the subject of a number of research analyst reports. Canaccord Genuity Group set a $22.00 target price on shares of 10x Genomics in a research note on Friday, February 13th. Deutsche Bank Aktiengesellschaft set a $17.00 price objective on 10x Genomics and gave the company a “hold” rating in a research report on Friday, February 13th. Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a report on Monday, December 22nd. TD Cowen lifted their price target on 10x Genomics from $18.00 to $19.00 and gave the company a “hold” rating in a report on Friday, February 13th. Finally, UBS Group upped their price target on shares of 10x Genomics from $14.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, 10x Genomics has an average rating of “Hold” and a consensus target price of $18.46.

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.