SG Americas Securities LLC Lowers Position in 10x Genomics $TXG

SG Americas Securities LLC decreased its stake in shares of 10x Genomics (NASDAQ:TXG) by 40.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,134 shares of the company’s stock after selling 25,633 shares during the quarter. SG Americas Securities LLC’s holdings in 10x Genomics were worth $810,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC lifted its stake in 10x Genomics by 1.4% in the 4th quarter. Intech Investment Management LLC now owns 40,047 shares of the company’s stock worth $653,000 after purchasing an additional 567 shares in the last quarter. Certuity LLC grew its position in shares of 10x Genomics by 4.7% during the fourth quarter. Certuity LLC now owns 20,204 shares of the company’s stock valued at $330,000 after purchasing an additional 904 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in shares of 10x Genomics by 7.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 14,052 shares of the company’s stock valued at $229,000 after purchasing an additional 950 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 10x Genomics by 28.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,660 shares of the company’s stock worth $92,000 after purchasing an additional 1,237 shares during the last quarter. Finally, M&T Bank Corp lifted its position in shares of 10x Genomics by 6.3% in the fourth quarter. M&T Bank Corp now owns 21,699 shares of the company’s stock worth $354,000 after buying an additional 1,282 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TXG has been the subject of several research analyst reports. Bank of America raised their price target on 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, April 20th. Barclays lifted their price objective on shares of 10x Genomics from $30.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of 10x Genomics in a research note on Wednesday, June 24th. Zacks Research downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Canaccord Genuity Group boosted their price objective on shares of 10x Genomics from $22.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.92.

Insider Activity

In other 10x Genomics news, CEO Serge Saxonov sold 30,000 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $34.44, for a total value of $1,033,200.00. Following the completion of the sale, the chief executive officer directly owned 1,108,380 shares in the company, valued at approximately $38,172,607.20. This trade represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Benjamin J. Hindson sold 11,595 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $24.44, for a total value of $283,381.80. Following the completion of the sale, the insider directly owned 502,000 shares of the company’s stock, valued at approximately $12,268,880. This represents a 2.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 96,309 shares of company stock valued at $2,704,157 in the last ninety days. 8.84% of the stock is currently owned by insiders.

10x Genomics Stock Performance

TXG opened at $39.01 on Monday. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of -229.47 and a beta of 2.05. 10x Genomics has a 12 month low of $11.16 and a 12 month high of $40.08. The stock has a fifty day moving average price of $28.07 and a 200-day moving average price of $22.88.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.19. The company had revenue of $150.84 million for the quarter, compared to the consensus estimate of $146.41 million. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.28) earnings per share. On average, equities research analysts forecast that 10x Genomics will post -0.79 EPS for the current year.

10x Genomics Company 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.