Amova Asset Management Americas Inc. Raises Stock Position in 10x Genomics $TXG

Amova Asset Management Americas Inc. boosted its position in shares of 10x Genomics (NASDAQ:TXG) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,486,153 shares of the company’s stock after buying an additional 109,270 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in 10x Genomics were worth $89,424,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Intech Investment Management LLC grew its position in shares of 10x Genomics by 1.4% in the fourth quarter. Intech Investment Management LLC now owns 40,047 shares of the company’s stock valued at $653,000 after purchasing an additional 567 shares during the period. Arizona State Retirement System lifted its stake in shares of 10x Genomics by 3.0% in the third quarter. Arizona State Retirement System now owns 29,586 shares of the company’s stock worth $346,000 after buying an additional 872 shares in the last quarter. Certuity LLC lifted its stake in shares of 10x Genomics by 4.7% in the fourth quarter. Certuity LLC now owns 20,204 shares of the company’s stock worth $330,000 after buying an additional 904 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in 10x Genomics by 7.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 14,052 shares of the company’s stock worth $229,000 after purchasing an additional 950 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in 10x Genomics by 28.0% during 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 period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on TXG. Deutsche Bank Aktiengesellschaft set a $17.00 price target on shares of 10x Genomics and gave the company a “hold” rating in a research note on Friday, February 13th. Barclays lifted their price objective on shares of 10x Genomics from $22.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, April 14th. Zacks Research cut shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. JPMorgan Chase & Co. lifted their price objective on shares of 10x Genomics from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Finally, Stifel Nicolaus lifted their price objective on shares of 10x Genomics from $20.00 to $25.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, 10x Genomics currently has an average rating of “Hold” and a consensus price target of $23.17.

10x Genomics Price Performance

10x Genomics stock opened at $30.59 on Wednesday. 10x Genomics has a 12-month low of $10.12 and a 12-month high of $35.65. The stock has a market capitalization of $3.88 billion, a P/E ratio of -179.94 and a beta of 2.12. The firm’s 50-day moving average is $24.05 and its two-hundred day moving average is $20.79.

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

Insider Activity at 10x Genomics

In other news, insider Benjamin J. Hindson sold 11,595 shares of 10x Genomics stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $283,381.80. Following the sale, the insider owned 502,000 shares in the company, valued at $12,268,880. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Serge Saxonov sold 18,175 shares of 10x Genomics stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $444,197.00. Following the sale, the chief executive officer owned 1,149,098 shares in the company, valued at $28,083,955.12. This represents a 1.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 75,586 shares of company stock worth $1,773,116. Company 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.