Lazard Asset Management LLC Sells 45,761 Shares of 10x Genomics $TXG

Lazard Asset Management LLC lessened its position in shares of 10x Genomics (NASDAQ:TXG) by 20.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 182,984 shares of the company’s stock after selling 45,761 shares during the quarter. Lazard Asset Management LLC owned about 0.14% of 10x Genomics worth $3,885,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in 10x Genomics by 806.4% during the 1st quarter. Royal Bank of Canada now owns 182,836 shares of the company’s stock worth $1,597,000 after purchasing an additional 162,665 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of 10x Genomics by 163.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company’s stock valued at $5,634,000 after purchasing an additional 400,430 shares during the last quarter. Focus Partners Wealth bought a new position in shares of 10x Genomics in the 1st quarter valued at about $92,000. Legal & General Group Plc boosted its stake in shares of 10x Genomics by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 110,864 shares of the company’s stock valued at $1,284,000 after purchasing an additional 5,985 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in shares of 10x Genomics during the 2nd quarter worth approximately $933,000. Institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TXG. Barclays boosted their price target on shares of 10x Genomics from $30.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Piper Sandler lifted their target price on shares of 10x Genomics from $20.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Leerink Partners upped their target price 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, July 17th. Bank of America increased their price target on 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, April 20th. Finally, Morgan Stanley raised their price target on 10x Genomics from $22.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $32.08.

10x Genomics Price Performance

10x Genomics stock opened at $47.27 on Friday. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of -278.06 and a beta of 2.05. The company’s 50 day simple moving average is $37.09 and its 200 day simple moving average is $26.67. 10x Genomics has a fifty-two week low of $11.16 and a fifty-two week high of $50.34.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.19. The firm had revenue of $150.84 million during the quarter, compared to the consensus estimate of $146.41 million. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.28) earnings per share. As a group, analysts predict that 10x Genomics will post -0.78 EPS for the current fiscal year.

Insider Activity

In related news, CEO Serge Saxonov sold 30,000 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $34.44, for a total value of $1,033,200.00. Following the completion of the sale, the chief executive officer owned 1,108,380 shares in the company, valued at $38,172,607.20. This represents a 2.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Adam Taich sold 15,098 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total value of $368,995.12. Following the sale, the chief financial officer directly owned 379,898 shares in the company, valued at $9,284,707.12. The trade was a 3.82% decrease in their position. 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. Insiders sold 91,309 shares of company stock worth $2,581,357 over the last quarter. Corporate insiders own 8.84% of the company’s stock.

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.