Quantedge Capital Pte Ltd Raises Holdings in 10x Genomics $TXG

Quantedge Capital Pte Ltd raised its stake in 10x Genomics (NASDAQ:TXG) by 104.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 416,553 shares of the company’s stock after acquiring an additional 212,600 shares during the period. 10x Genomics accounts for about 4.8% of Quantedge Capital Pte Ltd’s investment portfolio, making the stock its 4th biggest holding. Quantedge Capital Pte Ltd owned about 0.33% of 10x Genomics worth $8,843,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in TXG. Dimensional Fund Advisors LP lifted its holdings in shares of 10x Genomics by 34.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,042,950 shares of the company’s stock worth $43,357,000 after purchasing an additional 525,369 shares during the last quarter. Swiss National Bank boosted its position in 10x Genomics by 2.2% during the 1st quarter. Swiss National Bank now owns 207,400 shares of the company’s stock valued at $4,403,000 after purchasing an additional 4,400 shares during the period. Kera Capital Partners Inc. grew its stake in 10x Genomics by 2.3% during the 1st quarter. Kera Capital Partners Inc. now owns 48,937 shares of the company’s stock worth $1,039,000 after buying an additional 1,108 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in 10x Genomics by 219.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,500 shares of the company’s stock worth $159,000 after buying an additional 5,149 shares during the last quarter. Finally, NFSG Corp acquired a new stake in 10x Genomics in the first quarter worth $444,000. 84.68% of the stock is owned by institutional investors.

Insider Activity at 10x Genomics

In other news, CFO Adam Taich sold 15,098 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total value of $368,995.12. Following the completion of the sale, the chief financial officer directly owned 379,898 shares of the company’s stock, valued at approximately $9,284,707.12. This represents a 3.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Benjamin J. Hindson sold 11,595 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $283,381.80. Following the completion of the transaction, the insider owned 502,000 shares of the company’s stock, valued at $12,268,880. This trade represents a 2.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 91,309 shares of company stock worth $2,581,357. 8.84% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TXG. Citigroup boosted their price target on shares of 10x Genomics from $24.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Bank of America increased their price objective 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of 10x Genomics in a research report on Wednesday, June 24th. Leerink Partners lifted their price objective on shares of 10x Genomics from $23.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Morgan Stanley boosted their target price on shares of 10x Genomics from $22.00 to $37.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.08.

10x Genomics Price Performance

Shares of 10x Genomics stock opened at $47.20 on Wednesday. 10x Genomics has a 1-year low of $11.16 and a 1-year high of $47.25. The business’s fifty day moving average price is $33.14 and its two-hundred day moving average price is $25.11. The company has a market capitalization of $5.99 billion, a P/E ratio of -277.65 and a beta of 2.05.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 2.86% and a negative net margin of 3.55%.The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.28) earnings per share. On average, research analysts expect that 10x Genomics will post -0.78 earnings per share for the current fiscal year.

10x Genomics Company 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.