AlphaQuest LLC Acquires 93,514 Shares of 10x Genomics $TXG

AlphaQuest LLC lifted its holdings in shares of 10x Genomics (NASDAQ:TXG) by 234.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,419 shares of the company’s stock after buying an additional 93,514 shares during the period. AlphaQuest LLC’s holdings in 10x Genomics were worth $1,560,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Teacher Retirement System of Texas raised its position in 10x Genomics by 6.1% in the second quarter. Teacher Retirement System of Texas now owns 14,931 shares of the company’s stock worth $173,000 after acquiring an additional 858 shares during the period. Versant Capital Management Inc boosted its position in shares of 10x Genomics by 3.3% during the third quarter. Versant Capital Management Inc now owns 29,364 shares of the company’s stock worth $343,000 after acquiring an additional 945 shares during the last quarter. True Wealth Design LLC grew its position in shares of 10x Genomics by 26.4% during the third quarter. True Wealth Design LLC now owns 4,534 shares of the company’s stock valued at $53,000 after purchasing an additional 948 shares in the last quarter. Kera Capital Partners Inc. lifted its position in shares of 10x Genomics by 4.0% in the third quarter. Kera Capital Partners Inc. now owns 32,269 shares of the company’s stock worth $377,000 after buying an additional 1,251 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of 10x Genomics by 150.4% in the second quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock worth $26,000 after buying an additional 1,364 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

10x Genomics Trading Down 2.9%

Shares of TXG opened at $20.20 on Friday. The firm has a fifty day moving average price of $18.64 and a 200-day moving average price of $15.22. The firm has a market capitalization of $2.56 billion, a P/E ratio of -32.58 and a beta of 2.18. 10x Genomics has a 12-month low of $6.78 and a 12-month high of $23.56.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.05. The company had revenue of $149.00 million during the quarter, compared to analyst estimates of $142.50 million. 10x Genomics had a negative net margin of 11.89% and a negative return on equity of 11.50%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) EPS. Analysts predict that 10x Genomics will post -1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TXG has been the topic of a number of research reports. Wall Street Zen downgraded 10x Genomics from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Canaccord Genuity Group boosted their target price on shares of 10x Genomics from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Needham & Company LLC set a $21.00 price target on shares of 10x Genomics in a report on Monday, January 12th. TD Cowen reiterated a “hold” rating on shares of 10x Genomics in a research report on Wednesday, January 7th. Finally, Piper Sandler upped their price objective on 10x Genomics from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, 10x Genomics has an average rating of “Hold” and a consensus target price of $16.83.

Insider Activity at 10x Genomics

In other news, CFO Adam Taich sold 11,888 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $19.00, for a total transaction of $225,872.00. Following the transaction, the chief financial officer owned 297,385 shares of the company’s stock, valued at approximately $5,650,315. This represents a 3.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benjamin J. Hindson sold 8,283 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $19.00, for a total value of $157,377.00. Following the transaction, the insider owned 432,605 shares in the company, valued at approximately $8,219,495. This represents a 1.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 33,432 shares of company stock worth $635,208. Company insiders own 9.39% of the company’s stock.

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.