VIRGINIA RETIREMENT SYSTEMS ET Al Takes $2.38 Million Position in 10x Genomics $TXG

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in 10x Genomics (NASDAQ:TXG) in the 2nd quarter, HoldingsChannel reports. The firm purchased 62,003 shares of the company’s stock, valued at approximately $2,377,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Intech Investment Management LLC boosted its position in 10x Genomics by 1.4% during the fourth quarter. Intech Investment Management LLC now owns 40,047 shares of the company’s stock worth $653,000 after purchasing an additional 567 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of 10x Genomics by 16.4% in the first quarter. EverSource Wealth Advisors LLC now owns 7,186 shares of the company’s stock valued at $153,000 after buying an additional 1,012 shares in the last quarter. Kera Capital Partners Inc. increased its position in shares of 10x Genomics by 2.3% in the first quarter. Kera Capital Partners Inc. now owns 48,937 shares of the company’s stock valued at $1,039,000 after buying an additional 1,108 shares in the last quarter. Elevation Wealth Partners LLC raised its stake in shares of 10x Genomics by 332.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock worth $57,000 after buying an additional 1,143 shares during the period. Finally, M&T Bank Corp raised its stake in shares of 10x Genomics by 6.3% during the 4th quarter. M&T Bank Corp now owns 21,699 shares of the company’s stock worth $354,000 after buying an additional 1,282 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TXG. Piper Sandler increased their target price on 10x Genomics from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Leerink Partners upped their price objective on shares of 10x Genomics from $23.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Canaccord Genuity Group increased their price objective on shares of 10x Genomics from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 10th. Barclays lifted their target price on shares of 10x Genomics from $30.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Finally, Citigroup boosted their target price on shares of 10x Genomics from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $44.00.

Insiders Place Their Bets

In other news, Director Shehnaaz Suliman sold 2,207 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $63.65, for a total value of $140,475.55. Following the transaction, the director directly owned 29,515 shares of the company’s stock, valued at approximately $1,878,629.75. This trade represents a 6.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Benjamin Hindson sold 13,818 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $63.02, for a total transaction of $870,810.36. Following the transaction, the insider owned 488,182 shares in the company, valued at $30,765,229.64. The trade was a 2.75% 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. Over the last three months, insiders sold 137,945 shares of company stock valued at $7,539,588. Corporate insiders own 8.84% of the company’s stock.

10x Genomics Stock Performance

NASDAQ TXG opened at $66.38 on Friday. The business has a fifty day moving average price of $53.09 and a 200 day moving average price of $34.76. 10x Genomics has a one year low of $11.16 and a one year high of $67.70. The company has a market cap of $8.65 billion, a P/E ratio of -112.51 and a beta of 2.08.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.10. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The company had revenue of $151.04 million for the quarter, compared to analysts’ expectations of $146.67 million. During the same quarter in the previous year, the company posted $0.28 EPS. The firm’s quarterly revenue was down 12.7% on a year-over-year basis. As a group, sell-side analysts predict that 10x Genomics will post -0.75 EPS for the current fiscal year.

10x Genomics Profile

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.