Corient Private Wealth LLC Purchases 84,197 Shares of 10x Genomics $TXG

Corient Private Wealth LLC grew its position in 10x Genomics (NASDAQ:TXG) by 129.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,027 shares of the company’s stock after acquiring an additional 84,197 shares during the quarter. Corient Private Wealth LLC’s holdings in 10x Genomics were worth $2,427,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TXG. Geneos Wealth Management Inc. purchased a new position in shares of 10x Genomics during the 4th quarter worth about $38,000. Larson Financial Group LLC grew its holdings in 10x Genomics by 164.4% during the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after purchasing an additional 1,470 shares during the last quarter. Van ECK Associates Corp raised its position in 10x Genomics by 85.9% in the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after purchasing an additional 1,695 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in 10x Genomics by 28.0% in the 4th 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. Finally, EverSource Wealth Advisors LLC lifted its stake in 10x Genomics by 203.9% in the second quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company’s stock worth $87,000 after purchasing an additional 5,025 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Transactions at 10x Genomics

In related news, insider Benjamin J. Hindson sold 11,595 shares of the 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 $283,381.80. Following the transaction, the insider owned 502,000 shares of the company’s stock, valued at $12,268,880. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Shehnaaz Suliman sold 5,723 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $32.63, for a total value of $186,741.49. Following the completion of the transaction, the director directly owned 31,722 shares in the company, valued at approximately $1,035,088.86. This trade represents a 15.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 96,309 shares of company stock worth $2,704,157 over the last three months. Company insiders own 8.84% of the company’s stock.

10x Genomics Price Performance

Shares of TXG opened at $36.75 on Monday. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of -216.18 and a beta of 2.12. 10x Genomics has a 1-year low of $11.16 and a 1-year high of $37.05. The company has a 50-day moving average of $26.65 and a 200 day moving average of $22.11.

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

Analysts Set New Price Targets

Several brokerages have issued reports on TXG. Canaccord Genuity Group boosted their target price on 10x Genomics from $22.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Citigroup increased their price target on 10x Genomics from $18.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, April 7th. Morgan Stanley raised their price target on 10x Genomics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Zacks Research cut 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. upped their price objective on 10x Genomics from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.00.

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.