Empirical Financial Services LLC d.b.a. Empirical Wealth Management Boosts Holdings in 10x Genomics $TXG

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of 10x Genomics (NASDAQ:TXG) by 85.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 35,174 shares of the company’s stock after purchasing an additional 16,170 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in 10x Genomics were worth $747,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of 10x Genomics by 241.3% in the 2nd quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock valued at $47,916,000 after buying an additional 2,925,372 shares during the period. Millennium Management LLC grew its holdings in 10x Genomics by 84.7% during the third quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock worth $63,570,000 after acquiring an additional 2,494,142 shares during the period. Wellington Management Group LLP grew its holdings in 10x Genomics by 126.6% during the third quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock worth $50,099,000 after acquiring an additional 2,394,355 shares during the period. Quantinno Capital Management LP raised its position in 10x Genomics by 207.2% during the second quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company’s stock valued at $25,864,000 after acquiring an additional 1,506,530 shares in the last quarter. Finally, Casdin Capital LLC purchased a new position in 10x Genomics during the fourth quarter valued at approximately $22,834,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley boosted their price target on 10x Genomics from $22.00 to $37.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Citigroup raised their price objective on shares of 10x Genomics from $24.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Zacks Research lowered shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. William Blair upgraded shares of 10x Genomics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of 10x Genomics in a report on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, 10x Genomics currently has an average rating of “Hold” and a consensus price target of $30.42.

10x Genomics Trading Down 2.8%

Shares of 10x Genomics stock opened at $44.48 on Friday. The firm has a market capitalization of $5.65 billion, a PE ratio of -261.65 and a beta of 2.05. 10x Genomics has a twelve month low of $11.16 and a twelve month high of $46.32. The firm’s 50-day moving average price is $31.71 and its 200 day moving average price is $24.51.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.19. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The company had revenue of $150.84 million during the quarter, compared to analyst estimates of $146.41 million. During the same period in the previous year, the business earned ($0.28) EPS. 10x Genomics’s quarterly revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts predict that 10x Genomics will post -0.79 EPS for the current fiscal year.

Insider Transactions at 10x Genomics

In related news, Director Shehnaaz Suliman sold 5,723 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $32.63, for a total transaction of $186,741.49. Following the completion of the sale, the director directly owned 31,722 shares in the company, valued at approximately $1,035,088.86. The trade was a 15.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Adam Taich sold 15,098 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total value of $368,995.12. Following the sale, the chief financial officer owned 379,898 shares of the company’s stock, valued at $9,284,707.12. The trade was a 3.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 91,309 shares of company stock valued at $2,581,357. Insiders own 8.84% of the company’s stock.

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.