Quantinno Capital Management LP Grows Holdings in 10x Genomics $TXG

Quantinno Capital Management LP lifted its stake in 10x Genomics (NASDAQ:TXG) by 16.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 5,411,761 shares of the company’s stock after purchasing an additional 744,558 shares during the quarter. Quantinno Capital Management LP’s holdings in 10x Genomics were worth $114,892,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new stake in 10x Genomics in the 4th quarter valued at approximately $38,000. Larson Financial Group LLC boosted its position in shares of 10x Genomics by 164.4% during the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock worth $39,000 after buying an additional 1,470 shares during the period. Fifth Third Bancorp purchased a new position in shares of 10x Genomics during the first quarter worth $50,000. Van ECK Associates Corp grew its stake in shares of 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 buying an additional 1,695 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of 10x Genomics by 203.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company’s stock valued at $87,000 after buying an additional 5,025 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

10x Genomics Stock Down 0.8%

Shares of NASDAQ:TXG opened at $45.92 on Tuesday. 10x Genomics has a fifty-two week low of $11.16 and a fifty-two week high of $49.50. The firm’s 50 day moving average price is $35.18 and its 200 day moving average price is $25.93. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of -270.12 and a beta of 2.05.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.19. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The company had revenue of $150.84 million for the quarter, compared to the consensus estimate of $146.41 million. During the same period in the prior year, the firm posted ($0.28) EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts anticipate that 10x Genomics will post -0.78 EPS for the current year.

Wall Street Analysts Forecast Growth

TXG has been the subject of a number of research analyst reports. Barclays raised their target price on 10x Genomics from $30.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Morgan Stanley increased their price target on shares of 10x Genomics from $22.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Canaccord Genuity Group raised their price objective on shares of 10x Genomics from $32.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. William Blair upgraded shares of 10x Genomics from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 31st. Finally, Citigroup upped their target price on shares of 10x Genomics from $24.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, 10x Genomics has a consensus rating of “Hold” and a consensus price target of $32.08.

Insiders Place Their Bets

In other news, CEO Serge Saxonov sold 30,000 shares of the stock in a transaction dated 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 owned 1,108,380 shares in the company, valued at approximately $38,172,607.20. This represents a 2.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Benjamin J. Hindson sold 11,595 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $24.44, for a total value of $283,381.80. Following the completion of the transaction, the insider owned 502,000 shares in the company, valued at approximately $12,268,880. The trade was a 2.26% decrease in their position. 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 91,309 shares of company stock valued at $2,581,357 in the last three months. Corporate insiders own 8.84% of the company’s stock.

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.