Sumitomo Mitsui Trust Group Inc. Has $108.49 Million Stock Position in 10x Genomics $TXG

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of 10x Genomics (NASDAQ:TXG) by 7.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,110,214 shares of the company’s stock after selling 381,975 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 4.00% of 10x Genomics worth $108,490,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Geneos Wealth Management Inc. bought a new position in shares of 10x Genomics in the 4th quarter valued at $38,000. Larson Financial Group LLC raised its position in 10x Genomics by 164.4% in the fourth 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 fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock valued at $60,000 after purchasing an additional 1,695 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of 10x Genomics by 203.9% during the second quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company’s stock valued at $87,000 after purchasing an additional 5,025 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 valued at $92,000 after purchasing an additional 1,237 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Transactions at 10x Genomics

In related news, CEO Serge Saxonov sold 30,000 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 1,108,380 shares in the company, valued at $38,172,607.20. This trade represents a 2.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Benjamin J. Hindson sold 11,595 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $24.44, for a total transaction of $283,381.80. Following the sale, the insider directly owned 502,000 shares of the company’s stock, valued at approximately $12,268,880. The trade was a 2.26% decrease in their ownership of the stock. 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 90 days. 8.84% of the stock is currently owned by company insiders.

10x Genomics Trading Down 0.9%

TXG stock traded down $0.37 during midday trading on Friday, hitting $42.73. The stock had a trading volume of 2,832,681 shares, compared to its average volume of 3,133,241. The business has a fifty day moving average price of $29.94 and a two-hundred day moving average price of $23.68. 10x Genomics has a 1-year low of $11.16 and a 1-year high of $43.23. The firm has a market cap of $5.43 billion, a P/E ratio of -251.35 and a beta of 2.05.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $150.84 million for the quarter, compared to analyst estimates of $146.41 million. During the same period in the previous year, the firm earned ($0.28) earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. On average, equities analysts anticipate that 10x Genomics will post -0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Bank of America boosted their target price on shares of 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. Zacks Research downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. JPMorgan Chase & Co. lifted their price target on shares of 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Morgan Stanley increased their price objective on 10x Genomics from $22.00 to $37.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Citigroup raised their target price on 10x Genomics from $24.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $28.92.

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.