Cookson Peirce & Co. Inc. Purchases Shares of 35,000 10x Genomics $TXG

Cookson Peirce & Co. Inc. purchased a new stake in 10x Genomics (NASDAQ:TXG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 35,000 shares of the company’s stock, valued at approximately $571,000.

Other large investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new stake in 10x Genomics in the fourth quarter valued at $38,000. Larson Financial Group LLC lifted its stake 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 acquiring an additional 1,470 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in 10x Genomics in the third quarter valued at $56,000. 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 valued at $87,000 after acquiring an additional 5,025 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in 10x Genomics by 28.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,660 shares of the company’s stock valued at $92,000 after acquiring an additional 1,237 shares during the last quarter. Institutional investors and hedge funds 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 firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $283,381.80. Following the transaction, the insider directly owned 502,000 shares of the company’s stock, valued at approximately $12,268,880. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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, CFO Adam Taich sold 15,098 shares of the firm’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 $368,995.12. Following the transaction, the chief financial officer directly owned 379,898 shares in the company, valued at approximately $9,284,707.12. This represents a 3.82% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 75,586 shares of company stock worth $1,773,116. 8.84% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on TXG. JPMorgan Chase & Co. increased their price target on shares of 10x Genomics from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. UBS Group raised their target price on shares of 10x Genomics from $14.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Citigroup raised their target price on shares of 10x Genomics from $18.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 7th. Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a research note on Friday, March 27th. Finally, Deutsche Bank Aktiengesellschaft set a $17.00 target price on shares of 10x Genomics and gave the stock a “hold” rating in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.17.

10x Genomics Stock Performance

NASDAQ TXG opened at $29.18 on Tuesday. The firm has a 50-day moving average of $23.83 and a 200-day moving average of $20.69. The stock has a market cap of $3.70 billion, a PE ratio of -171.65 and a beta of 2.12. 10x Genomics has a 52-week low of $9.30 and a 52-week high of $35.65.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.19. The company had revenue of $150.84 million during 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%. 10x Genomics’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.28) EPS. As a group, analysts predict that 10x Genomics will post -0.79 EPS for the current fiscal year.

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.